Following a major push in 2018, NCBPA’s market valuation efforts slowed in 2019 due to a lack of support for MLS greening, Realtor education and other objectives we and partners had established.
In 2020, NCBPA will continue to look for opportunities to improve the market valuation of high performance homes and buildings across our state. This work includes:
- Establishing a pilot program in the Wilmington market for Realtor education and Builder best practices.
- Holding educational workshops for Realtors and other key stakeholders on “The Principles of Building Science” and real estate-specific best practices.
- Holding educational workshops for Appraisers and Lenders that show legitimate interest in incorporating high performance home and building valuation into their work.
- We continue to pitch grant funding opportunities to state, regional and national organizations that would provide the resources we need to perform our annual market inventory report in 2020 with a major focus on valuing high performance commercial buildings.
- NCBPA seeks $25,000 of funding to perform our annual market inventory report, last completed in March of 2018, to gather valuable insight on NC’s residential and commercial building markets with a major focus on defining the added financial value of high performance commercial buildings. In 2018, NCBPA identified a 9.5% premium for high performance homes by comparing sale prices from code built homes versus those with home energy ratings and third-party certification programs like ENERGY STAR, NGBS, LEED and others. NCBPA seeks funding to perform this same study on NC’s commercial buildings market to develop hard data that clearly demonstrates the higher financial value of commercial buildings that are built or retrofitted to energy efficient, green building and high performance standards. Contact us if you’d like to participate or help fund this work.
In July of 2019, NCBPA’s Ryan Miller presented several Appraisal market recommendations while participating as a member of the NAHB Green Building Sub-Committee and received strong positive feedback from Sub-Committee members from across the country. The recommendations included:
- Develop a new “Green Appraiser” training course that yields an industry-recognized credential or certification. This course would be just the second widely-marketed course available, following the 5-day course offered by Sandy Adomatis. It should be shorter in duration, less costly and instructed by approved trainers across the country.
- Identify and develop pathways and resources for states to leverage in adopting minimum “Green” education requirements for Appraisers.
- Develop case studies, policy toolkits, pilot programs and resources that aid state and local home builders associations in taking on efforts to improve the appraised values of energy efficient, green and high performance homes.
- Develop a video series and online advertising and education campaign that informs builders, appraisers, Realtors® and lenders how to properly appraise and value energy efficient, green and high performance homes.
- Invest funding and resources into standards development, software development and web-based resources that streamline and automate the many difficult steps involved in providing documentation and data that supports improved value through real estate, appraisal and lending transactions.