Updated 10/18/2009 01:46 PM
Eco-Brokers See Greener Side Of Down Market
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An emerging trend in the real estate world is helping buyers and sellers go green while helping some brokers make green in a down market. NY1's Jill Urban filed the following report.Cullen Howe is looking to buy a new home. Being that he's an environmental attorney, it's important for him to find a place that's green.
"Buildings are responsible for about 40 percent of green house gas emissions, so when I think of what I can do to reduce my greenhouse gas emissions obviously where I live is a good place to start," Howe said.
To find something that meets his needs, he sought out an eco-broker – a licensed real estate expert who specializes in energy and environmental issues.
Eco-brokers are an emerging trend and a good way to set some brokers apart in a down market.
"I think it's [a trend that is] going to explode. A lot of it has to do with the fact that business is soft and smart brokers are looking for every opportunity they have to market themselves in a better unique way," said Corcoran eco-broker Susan Singer.
Singer was one of the first in the city to receive eco-certification. She now helps clients evaluate their needs and guides them through the various options -- from new development that offers the latest in green technology to older properties that are retro fitted to address environmental and energy saving issues. She will even help a client find a home and then guide them on how to go about a green renovation.
Lindsay Richman of Brown Harris Stevens is also an eco-broker. She says an eco-broker is part broker, part educator -- a role she feels adds value to a client. Aside from guiding buyers, these specialists also help sellers make their homes more environmentally sensitive and then work to market the property correctly.
"A lot of people have these features in their homes already and don't know it and don't know how to market it," Richman said. "For instance, they have low emissivity faucets or toilets, things that can save money and could be more attractive to someone who is looking to conserve in several ways."
Green standards and regulations are constantly changing, as are incentives and tax credits for owners, which is why eco-brokers must renew their certification annually.
As our world adapts and green construction becomes the standard, both women believe all brokers will eventually need to be up to speed on these issues. But for now, they are working to stay ahead of the curve, helping clients go green and save green in an ever changing real estate market.