ACEEE’s research shows that including home energy efficiency scores online in real estate listings would lead buyers to choose a more energy-efficient home with lower energy costs. Home builders and sellers who don’t leverage this information could be missing a key opportunity to demonstrate their value proposition.
ACEEE’s study is part of a growing body of evidence suggesting home builders and existing home sellers would benefit from better marketing of home energy efficiency data.
One-quarter of the features that home builders are likely to include in new construction homes relate to energy efficiency, but that’s not always divulged in marketing. This information is rarely included in online listings for new or existing homes, which is where most home buyers (93%) begin their search for a home, according to ACEEE.
A research firm contracted by ACEEE surveyed a national sample of more than 1,500 individuals planning to buy a home within the next five years and showed them a mock real estate site featuring three sample homes. Each posting included the select information, including price, bedrooms, and square footage.
ACEEE found that:
Earlier this year, Insulation Institute reported that the city of Minneapolis now requires all homeowners of one- and two-family homes to collect energy efficiency data before they can list their homes for sale as part of the city’s broader effort to cut greenhouse gas emissions. That’s a great first step, but this information would be most helpful if it was required to be included in the property listing.
“Cities and states that are serious about home energy upgrades should consider mandates for including energy efficiency information in listings,” says Reuven Sussman, director, behavior and human dimensions program for ACEEE. “We’ve shown that this information could impact home buyers’ decision-making.”