Environmental Data Resources Survey Finds Realtors(R) Seek New Ways to Close Deals in Current Market
Posted on: Thursday, 29 November 2007, 09:00 CST
MILFORD, Conn., Nov. 29 /PRNewswire/ -- Knowing more about the environmental contaminants that exist under and around a home, before it is sold, could help REALTORS(R) close deals, according to an Environmental Data Resources (EDR) survey conducted at the National Association of Realtors Annual Conference in Las Vegas. The survey indicates that enhanced environmental disclosure can make the due diligence process more comprehensive and therefore help homebuyers feel more secure about their purchasing decisions, yet it remains missing from the majority of U.S. home inspections.
"While real estate agents are in business to sell, not investigate, the homes they list, this survey indicates that it is valuable to uncover as much as you can about the environmental health and safety of a property, particularly the presence of environmental contamination," said Ben Cesare, EDR's Managing Director of Residential Services. "An environmental disclosure report conducted during the home inspection process fully informs the buyer, provides a level of liability coverage for the agent and reduces complications at the closing - making everyone more confident in the completion of the sale."
Findings from the survey include: -- Ninety-five percent of REALTORS(R) surveyed have taken a listing and then discovered an issue with the property that made it difficult to sell. -- Seventy-six percent of those surveyed say that potential environmental conditions, such as soil contamination, influence homebuyers' purchasing decisions. -- Ninety-five percent of REALTORS(R) do want to know about environmental problems on or surrounding a property before they take it on as a listing. -- Nearly 60 percent of respondents said their listings are selling in between one and six months. Yet most REALTORS(R) at the show agreed that keeping sales strong involves finding innovative ways to keep people interested in the home-buying process.
Environmental disclosure through reports such as the ones EDR provides can allow REALTORS(R) to differentiate themselves in a slower market, according to attendees who walked the show floor. "An environmental issue wouldn't necessarily deter me from taking the listing," said one REALTOR(R), "because most issues can be resolved and will lead to a sale."
EDR, the market leader in providing environmental risk information, offers the EDR Neighborhood Environmental Report(TM), which provides objective information and guidance to real estate professionals, home sellers and buyers about issues like leaking underground storage tanks, hazardous waste sites or spills, illegal drug houses, and Superfund sites. The EDR Neighborhood Environmental Report(TM) is available to homeowners nationwide by contacting 800 624-0470 or http://www.edrnet.com/residential.
About EDR
Environmental Data Resources Inc. is the leading national provider of environmental risk information services and related workflow applications in the United States. As the innovator of the most comprehensive and accurate database of environmental and historical land use information, the company provides reports, subscription services and other solutions to help its customers assess and manage environmental risk. EDR customers include commercial and residential real estate professionals, environmental consultants, lenders, corporations, attorneys and government agencies. Established in 1991, EDR is headquartered in Milford, Connecticut with regional offices located throughout the United States. EDR is wholly owned by DMG Information Inc., the business information division of Daily Mail and General Trust, plc (DMGT). For more information, visit http://www.edrnet.com/.
Environmental Data Resources Inc.
CONTACT: Joe McGurk of CJP Communications, +1-203-378-1152, ext. 121, ormobile, +1-203-683-8724, or jmcgurk@cjpcom.com, for Environmental DataResources Inc.
Web site: http://www.edrnet.com/http://www.edrnet.com/residential
Source: PRNewswire
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