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Understanding the Green Building Boom

By Rick LeForce Published 09/21/2007 | Real Estate

Demand for environmentally friendly buildings has grown considerably in recent years, and Realtors are making a lot of money helping investors buy and sell them. As this market grows, it's up to savvy agents to follow new green technology, and the changing interests of buyers. Government green building incentives and international treaties are also a big factor, and agents who know what policies are next can often anticipate demand.

Part of the reason green buildings took so long to attract demand was the lack of knowledge on the subject. Many developers assumed building costs would be inaccesibly high because of standards that had to be met, and materials required. But in recent years the opposite has happened - buyer awareness has helped expand the market, and many developers have found green buildings to be much less expensive than they assumed. As green buildings become more common, construction materials, such as insulative glass, and public information, have increased dramatically.

Realtors looking for the latest information and industry perspective on green buildings can attend now attend regular conferences on the subject, which are  among the most popular events in the real estate industry these days. The most common theme at these events is how to stay ahead of the curve, and ensure green developments don't go out of date as new technologies emerge. 

Green buildings are also having an impact on the buy-sell cycle of many real estate markets, because their owners act differently than other buyers and sellers. Many green building owners and renters keep their homes for longer before selling them, a trend running counter to the common practice of buying and flipping in many high-end markets. With sustainable value comes higher overall prices, and the demand for better construction and longer lasting buildings.

The benefits of environmentally friendly construction are now well known: these buildings have a smaller demand on power and plumbing, resources resulting in fewer greenhouse gases and less resource extraction, heating and cooling cost savings, and more comfortable living spaces. They're also generally more attractive and complementary to the cityscape.

Realtors who understand the benefits green construction, and know how to talk about it with buyers and sellers, will profit considerably as demand for these buildings increases. Now's the time to learn all you can about this exciting new home market.

Rick & Jennifer LeForce are green building experts, and top Peoria Arizona real estate professionals. Visit their website for local information, a Peoria real estate area home search, and buyer and seller resources.