Are agents making the most of eco-features to achieve sales targets?

Now that a new government has been elected and interest rates appear to be on their way down, many buyers who have been holding back on purchasing a new property are deciding that this is a good time to move. 

At the same time, concerns about the environment and climate change continue to appear in the daily news, with little sign of abating. 

In relation to these two factors, I believe it is necessary for agents to develop an effective marketing strategy that focuses on the environmental and sustainability benefits of properties they are listing. We know there is considerable evidence that the eco-features of a home are becoming increasingly important to buyers, not only for their ability to reduce the carbon footprint of a property, but also for their investment-enhancing potential, together with opportunities to considerably cut down on utility and maintenance bills. With this in mind, it makes sense to direct a potential buyer’s attention to any key eco-friendly factors in a property.

An agent’s marketing campaign should clearly highlight not only the innovative eco-features of a property, but also provide some supporting evidence of how these features are likely to reduce outgoings and combat climate change. Areas to look at include the use of solar panels, and whether the property has an effective heating and hot water system to help reduce heat waste. Does it benefit from triple glazing and/or low-carbon heating through heat pumps? Have Smart home technologies been installed to save time, money and energy? 

Shrewd investment

Making buyers aware of how a particular property might enhance their lifestyle is key to securing a sale. Advising how reduced energy and water consumption, improved health and wellbeing through the use of non-toxic materials and effective ventilation, decreased utility bills, less maintenance and ultimately the potential for a higher resale value, will support the idea that properties with eco-friendly features can be a shrewd long-term investment. 

Research confirms that consumer demand for eco-friendly homes is high. A survey commissioned by LRG, one of the largest property services providers in the UK, found that almost three quarters (70%) of respondents nationwide would like their property to be more eco-friendly. Over half (56%) said they would specifically seek out a property with eco-friendly qualities, while two-thirds (66%) confirmed they would choose a property with eco-friendly features to buy or rent, over one without. 

The amount that households spend on energy is directly linked to the energy efficiency of a property. A recent study by Rightmove showed that at least 18 million homes, which is over half the UK’s housing stock, have Energy Performance Certificate (EPC) ratings of D or below, with D currently being the most common rating. The difference between average annual bills for the highest EPC rated homes (A) and the lowest rated (G) can amount to thousands of pounds so it is not surprising that the EPC rating of a property is of great interest to prospective house hunters, with many being willing to pay more for a greener home.

A word of caution - when marketing the eco-features of a property, any information should be clear, accurate and data-driven. Guidance from Defra on green marketing includes the advice to only use images that relate directly to the benefits being claimed, and to ensure that any logos or symbols are specific to the product they are officially certified for. It is important that marketing material contains plain, jargon-free language that can withstand scrutiny, as vague, false or misleading statements - often referred to as green washing - can easily tarnish an agent’s brand and create public distrust. By contrast, an honest, transparent marketing campaign that highlights the unique and energy-efficient features of a property can be very persuasive. 

Creating a sense of positivity and optimism about a property can helping to reassure uncertain buyers that this really is a good time to commit to a home that may ultimately help improve their finances and contribute towards mitigating climate change.