Harnessing the Value of an Energy Efficient Home
Nest Realty recently launched a partnership with Pearl Certification, a national certification program that aids sellers in harnessing the value of an energy efficient home. We sat down with Pearl CEO, Cynthia Adams, to learn more about the certification and what it means for homeowners.
What is Pearl?
The Pearl Certification is “similar to a carfax report for your home,” explains Adams. It is an asset-based scoring system that evaluates the energy consuming components of a home. A home seller hires Pearl to conduct the inspection. Through diagnostic tests and visual inspection, detailed data is collected and evaluated. If the energy efficiency qualifications have been met, the home will receive the Pearl Certification. Each home receives a verification report and unique certification number, which is kept on record with the Pearl registry and can be accessed in the future. In addition to the certification, the seller receives a yard sign and magnet to be placed on the home’s circuit breaker box. This unbiased, verification report allows buyers to feel confident that third-party assessment has occurred.
What’s the difference?
So what’s the difference between the Pearl Certification and other energy scoring platforms, like HERS? The HERS (Hers Energy Rating System) program is an index system that measures the home’s energy efficiency, an energy audit. The Pearl Certification is an asset-based system. It awards certain points for each energy saving feature that a home possesses, like heating and cooling systems, building materials, windows and doors, lighting, and energy efficient appliances. While each home is unique, this quantitative data allows Pearl to grant certification to homes that meet a deemed level of efficiency. Essentially, home buyers are able to look at various homes and accurately compare their energy efficiency (apples to apples).
Benefit to the Home
The aim of Pearl is to, “make your home more comfortable, affordable, and valuable,” explains Adams. A home’s comfort comes from high air quality, appropriate lighting, and an enjoyable temperature that comes from an effective heating and cooling system. The home becomes more affordable as energy efficient components lower your monthly bills, saving you money over time. By utilizing the certification, each of these improvements equates to a more valuable home when it comes time to sell.
Benefit to Sellers
With the Pearl Certification, sellers are able to, “make the value of their home visible,” shares Adams. Homeowners are able to call attention to each of the improvements they have made, and capitalize on these energy investments. Fundamentally, as homeowners work to increase the comfort of their home, they also increase the value.
Benefit to Buyers
A buyer is able to quickly identify energy efficient homes in the area. As they enter the purchasing process, they are assured that the home has met the Pearl Certification energy efficiency requirements.
Benefit to Charlottesville
We all know that energy efficiency is not only good for individual homeowners, but locally and globally, as well. The Pearl Certification provides an additional incentive for homeowners to upgrade their property. “Both the City and County embrace robust energy efficiency goals, and local nonprofits like LEAP engage the community through home energy upgrades. Through our partnership with Nest, Pearl will close the loop by helping homeowners recoup the value of their investments at the time of resale – and by extension, validating the value of the energy efficient home in the market,” explains Adams.
New Homes vs. Old Homes
While the certification is ideal for older homes, it can also be useful for newer homes. Builders may have used energy efficient appliances and building methods, but may not have used a third-party rating during the building process. These homes still deserve to have their efficiencies recognized and the Pearl Certification allows these assets to be recognized and included in the value of the home.
Beyond Certification
So what happens if a home does not meet the Pearl Certification standards? There is an upside! The seller becomes aware of the areas in need of improvement, and a corrective action plan can be created. The seller is able to utilize Pearl’s network of contractors, financing options, and rebate assistance, allowing them to upgrade the home accordingly.
If the seller opts not to make upgrades, the buyer is at least aware of the areas in need of improvement, and can use the assessment as a road map for how to increase their energy efficiency.
Why partner with Nest Realty?
Nest has lead the way with the first partnership of its kind. Pearl is able to utilize the knowledge of our Nest Brokers who have first-hand knowledge of the needs of home sellers and buyers. Through Pearl training, Nest Brokers will be able to further assist buyers and sellers with identifying and understanding the value of home energy improvements.
“We’re extremely excited to embark on this partnership with Pearl. We’ve been educating our team and clients for years about the value of energy efficient homes. Pearl Certification and the Home Energy Asset Inventory is a great way to document a home’s value from an energy efficiency standpoint. There is tremendous value in this for the seller and the prospective buyer, and we’re glad to be offering this service,” shares our Principal Broker at Nest Realty, Jonathan Kauffmann.
Nest’s partnership with Pearl includes:
- Pearl Certification will be added as a searchable field on the Nest Realty website.
- Nest sellers will have access to Pearl services to help them market their energy efficient home.
- Nest buyers will have access to Pearl’s contractor network and other special offers.
- Our Nest agents will receive special training to help us educate our sellers and buyers on the value of third-party certified, high-performing homes.
To learn more about how a Pearl Certification may benefit your home, contact your Nest Broker.
Official Launch
On November 16, 2015, Nest Realty and Pearl Certification announced the innovative partnership at a meeting held at Old Metropolitan Hall in Downtown Charlottesville. Pearl CEO, Cynthia Adams, conducted an in-depth presentation that allowed our brokers to gain deeper knowledge of the program, and further clarify how it will directly benefit our Nest clients.
Also in attendance was Charlottesville Council Member and Vice-President, Dede Smith, as pictured below.
Ann Mallek, who serves on the Board of Supervisors for Albemarle County, also spoke, as pictured below.
Local news outlets were in attendance to document the partnership:
To view the Newsplex piece, click here.
To view the NBC29 piece, click here.
To read the Daily Progress article, click here.
To listen to the Rick and Jane WINA News Radio interview with Nester Greg Slater, click here.