CMLS Publishes Home Energy Information Guide
Wednesday, May 31, 2017
Posted by: Rich Becker
CHICAGO — Working with the U.S. Department of Energy’s Home Energy Information Accelerator, the Council of Multiple Listing Services (CMLS) has published the Home Energy Information Guide with the National Association of REALTORS® (NAR) and Real Estate Standards Organization (RESO).
The guide assists real estate professionals in understanding how to provide home energy information and multiple listing services in delivering verified data. It was created as the first step in meeting the public’s growing demand for home energy information while observing industry compliance standards.
“A growing number of consumers say energy efficiency goes hand in hand with the dream of homeownership,” said Elizabeth Mendenhall, a Realtor® from Columbia, Missouri and 2017 president elect of the National Association of Realtors®. “Realtors® with good data at their fingertips can answer that growing interest by putting efficiency investments front and center for the homebuyers and sellers who depend on their expert service.”
As much as 70 percent of households now consider energy efficiency as important, providing a significant opportunity for the real estate industry to make the value of efficiency investments visible to homeowners and buyers. This will improve living experiences and increase resale values.
According to the U.S. Census, household energy costs averaged $2,500 per year, which is higher than property taxes or insurance. Cost-effective investments in energy efficiency can reduce these costs for the homeowner and deliver additional value to their home when it comes time to sell.
“MLSs are vital to the marketplaces in their communities as they make the market work by providing essential information,” said Denee Evans, CEO of CMLS. “As more real estate professionals want to share home energy information with buyers and sellers, MLSs can voluntarily use accepted data standards by including green fields that meet RESO’s Data Dictionary Silver Certification.”
The Home Energy Information Guide also includes the latest RESO Data Dictionary green fields and definitions. It also provides text and values that would be offered in drop-down menus or through auto-population. Local MLSs are also advised to determine which energy programs to include in their listings based on local presence and potential for growth in their jurisdictions.
CMLS remains committed to helping MLSs make the market work. As more consumers and real estate professionals rely on home energy information, CMLS will continue to assist the real estate industry in supporting standards that safeguard market confidence.
Download the Home Energy Information Guide today. MLSs may also review the most current list of fields and groups contained within the GreenVerification Group as part of the RESO Data Dictionary Wiki v1.5. MLSs that have not implemented green fields may learn more at the Green MLS Tool Kit, maintained by NAR.
The Council of Multiple Listing Services (CMLS) is the professional trade organization that serves to advance the MLS industry in North America through unified leadership, collaboration, and education across the real estate industry. It was formed as a premier forum, advocate and resource in 1957 and has since evolved into a volunteer-led organization that is responsible for the advancement of MLS through education, innovation, and the implementation of best practices, industry standards, and next generation solutions in support of MLS providers with over one million subscribers.