RISMedia's Real Estate Magazine

JAN 2018

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

Issue link: http://remag.rismedia.com/i/918036

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Page 92 of 110

88 January 2018 RISMedia's REAL ESTATE Home energy bills are a major cost, especially in homes that weren't built with efficiency in mind. But with- out transparency or consistent mea- sures of home performance (or how a home's systems use or waste en- ergy), energy use has been difficult for homebuyers to predict, under- stand or even see. That's all changing. In recent years, cities around the country have started requiring sellers to include a Home Energy Score in their public listings. Developed by the U.S. Department of Energy, the score gives sellers credit for their investments in energy efficiency and provides buyers the information they need to make an informed de- cision. It's consistent and reliable, and it's helping buyers nationwide predict their energy bills and plan for future upgrades. Portland, Ore., is the latest city to guarantee greater energy transpar- ency by requiring a Home Energy Score for most home sales, joining cities like Berkeley, Calif., and Aus- tin, Texas. Starting in 2018, listings for most single-family homes and townhomes in Portland will be re- quired to disclose a Home Energy Score. As the Home Energy Score be- comes increasingly common, here's what REALTORS® need to know: 8 Apples to apples: The score is based on the physical characteris- tics of a home, not the homeown- er's energy use. Also, by adjusting for climate and utilities, homes are compared only to other homes in the region. 8 Easy to interpret: The score ranks homes on a simple 1 - 10 scale, where five represents the average home and 10 represents the most energy-efficient home. 8 Beneficial to buyers: With the Home Energy Score, there are no The Home Energy Score: What REALTORS ® Need to Know by Peter Kernan T oday's homebuyers want to know what they're buying—and how much it'll cost them after they move in. In today's market, that means going beyond monthly mortgage costs and budgets for repairs. Buyers also want to know how much energy a home will use, what that energy will cost them, and how efficient it is. With the Home Energy Score, there are no surprises— buyers know what they're purchasing and can predict future utility and energy expenses.

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