Sellers: Disclose Energy Costs!

Green Escrow | Real Estate News

A recent study found that listings that disclose energy costs often have spend less time on the market, have a higher close rate and even sell at higher percentage of the original asking price. While single-family homes that disclosed energy costs spend 8 fewer days on the market, attached homes, meaning condos or town homes, were sold a whopping 25 days sooner as compared those who did not disclose costs. According to the study, an attached home that was listed for $352,000 would have sold for $4,576 more if the energy costs had been disclosed.

In 2013, Chicago was the first city in the United States to allow direct disclosure of residential energy costs – both electric and gas – on the multiple listing service for single family or attached homes listed for sale. The Midwest Real Estate Data, Chicago’s multiple listing service, now provides an “Energy eCompliance” tool to assist Chicago listing agents in providing buyer agents and home buyers with an energy cost disclosure report for properties, available online.