NAR’s GreenNAR’s Designation sustainable Residential property Elective designation Course STUDENT MANUAL A program by the Green REsource Council of the NATIONAL ASSOCIATION OF REALTORS® NAR’s Green Designation Residential Elective Course Copyright © 2008, The Green REsource Council NATIONAL ASSOCIATION OF REALTORS® IMPORTANT NOTE: The Green REsource Council, the Real Estate Buyer’s Agent Council, Inc., and National Association OF REALTORS®, its faculty, agents and employees are not engaged in rendering legal, accounting, financial, tax, or other professional services through these course materials. If legal advice or other expert assistance is required, the student should seek competent professional advice. Green REsource Council 430 North Michigan Avenue Chicago, Illinois 60611 USA Phone: 800-874-6500 or 312-329-3281 Fax: 312-329-8632 E-mail:
[email protected] Web site: www.GreenResourceCouncil.org NAR’s Green Designation Residential Elective Course CONTENTS Introduction 1 What You Will Learn 1 1. Marketing to the Green Home Buyer 6 National Certification and Rating Programs 7 Green Home Remodeling in Weakening Markets 12 Growth in Green Home Knowledge 13 Types of Green Home Buyers 14 Exercise: Identifying Features for Home Buyer Types 16 Counseling Buyers 18 The Source of the Source 20 2. Green Practices in New Home Design 24 Whole Building Design 25 Passive Design 33 Exercise: Design Challenges 36 3. Green Practices in Home Construction 40 Innovative Construction Methods and Materials. 41 Energy Efficiency 46 Hot Water Heaters 49 Retrofitting, Remodeling, and Renovating Existing Homes 52 Cost/Benefit Analysis 56 Exercise: Cost/Benefit 66 4. Valuation and Incentives for Green Homes 68 Developing Price Proposals and Offers 69 Exercise: Pricing a Green Home 70 Green Home Appraisals 74 Green Home Mortgages 75 Homeowner Incentives 79 Homeowner Utility Rebates 81 5.