Real Estate Brokers: LEED, Follow or Get Out of the Way

Real estate news and commentary site GlobeSt.com recently published an article on commercial real estate brokers and green building education.  Brokers should take notice that if they’re not up to speed on sustainable real estate, they’re doing their clients a disservice.  And, they may see their clients start looking for service providers that have the necessary expertise on the product they want.

Consider the number of Fortune 500 companies that have sustainability mandates.  The first step in introspection by these companies is to look at their facilities, existing and new, to determine what changes can be made.  Pick a company, visit their corporate website and you’ll likely see mention of a green building on their ‘Corporate Responsibility’ page.

Don’t believe that businesses are serious about sustainability?   Think again.  Retailers from quick-service food ( Subway, Chipotle, Dunkin’ Donuts, KFC, Taco Bell and Pizza Hut) to big boxes (Target, WalMart, Kohl’s, Best Buy) are all opening green stores.

Not a retail broker?  GE Real Estate, the GSA, almost every major university, and most REIT’s also have a requirement that either a portion of or all of their portfolio be LEED certified or equivalent.  Additionally, many municipalities (including Chicago, San Francisco, Seattle and Denver) have LEED requirements attached to either city-assisted programs such as TIF and even zoning changes.

Taking all of this into account, it’s a strong argument for brokers to become educated on LEED and sustainable construction.  The USGBC has recently rolled out a series of courses, which are available online, to help bridge the knowledge gap for brokers.

If you’re a real estate broker and have had an experience with LEED in your business, please share.