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Editor's note: This post was originally published by REthink39 Group and LAER Realty Partners.
One of our recent listings in Winchester closed for $1.48M or $516.94/square foot. There has never been a contemporary home in Winchester to sell for that price per square foot, and only one house of that size in the past five years. The home was Pearl Certified Silver and was the first home in Winchester to receive the designation. It was marketed and sold in the midst of COVID-19.
The listing agent, Phil Massa, believes the Pearl Certification helped support the value in the appraisal. Phil estimates that the home sold at an 8% price premium from his analysis of the comps.
Our team was contacted by a homeowner in Northern Connecticut who was frustrated. He had just met with a real estate agent that gave him a comparative market analysis of $269,000 for his home. The problem was the agent did not include any value-add for the substantial energy efficiency and renewable energy improvements the homeowner had made to his home — including two ground-mounted PV systems and a geothermal (GSHP) heating system.
We searched for and found an outstanding agent with a National Association of REALTORS® Green Designation. We met with the listing agent and sellers at their home. The decision was to list at $299,000 ($30k more than the previous recommendation — before anyone was even thinking about the coronavirus).
We recommended to the homeowner and listing agent that the home be certified by Pearl, and it ended up qualifying for and receiving a Pearl Gold Certification.
We did not change our strategy even though we went on market at the end of March, in the midst of COVID-19.
The seller soon accepted an offer for $296,000 a 10% increase in price over what the original agent thought the home would sell for. The appraisal and Pearl Certification supported the true value of the home, and the homeowner got the value he deserved for his high performing, energy efficient home.
The REthink39 Group and LAER Realty Partners can testify for the success of Pearl Certification. We are always happy to work with homeowners anywhere in the country and match them to knowledgeable and competent agents. Learn more about REthink39 Group and LAER Realty Partners.
Pearl is transforming the housing market by scoring, verifying, and certifying the performance of homes across the country.