REALTORS and Real Estate Agents Benefit from Home Energy Scores
Sell Faster, Buy Smarter. Click here to view more info about the US Dept of Energy Home Energy Score.
Homes Sell Faster with Energy Disclosure
Homebuyers appreciate having as much information as possible when comparing homes, and the Home Energy Score helps convey this information. One study found that homes disclosing energy costs – even when those costs were high – closed at a higher percentage of the asking price and spent less time on the market than comparable homes that did not disclose energy costs.
Customers Want to Know More About Home Energy Costs
Multiple Listing Services (MLSs) provide the Home Energy Score to buyers. States across the country are adopting the Score to ensure energy efficiency information is consistent and credible.
Financial Incentives Make the Score Attractive for Home Improvements
With Fannie Mae’s Home Style Energy mortgage, borrowers can finance up to 15% of a home’s “as completed” appraised value for energy efficiency improvements by receiving a Home Energy Score. Borrowers in this program can also qualify for a stretch on their debt-to-income ratios for homes that score a 6 or higher, or for making improvements to a less efficient home. The Federal Housing Administration (FHA) has a similar policy that allows larger debt-to-income ratios for high scoring homes. These policies reflect the fact that more efficient homes have lower operating costs.
Interested in more? Contact VERIFY today, to set up a presentation for your real estate office or inquire about services for any of your clients to get an edge up on your competition. Learn more.