Understanding Australian real estate agent perspectives in promoting sustainability features in the residential property market

Abstract

Problem - There is little evidence that over the past 20 years real estate agents in Australia are taking initiative in promoting sustainability features in the property purchase selection phase. Methodology/Approach - Residential real estate agents are selected as they are the conduit of information between sellers and buyers, having an important role in communicating the importance of sustainability features in housing. A questionnaire was distributed through a newsletter alert from the Real Estate Institute of Queensland (REIQ) and an Australia-wide residential real estate company, PRDnationwide. This questionnaire asked agents to rate the relative importance of 50 building information of housing. Results - Real estate agents considered more on spatial planning category, which focuses on general housing features, as opposed to other categories which are more related to sustainability. Discussion - This study provides an insight into the agents’ perspectives on sustainability features that will enhance the effectiveness of sustainability “marketing” in the residential property sector. Implications – The attitude of agents not actively promoting sustainability features may affect potential sellers/buyers not realising the importance of choosing a home with sustainability features. Originality - The majority of the studies examine the impact of sustainability features on property value, ignoring the role of real estate agents. This study adds to the importance of assessing agents’ perspectives that may assist in the decision making process of purchasing a house.