2008-10-07, 16:23

The "Green Preference" trend will continue accelerate

By: Multifamily Real Estate Industry Team
There are strong indications that this "green preference" trend will only accelerate.

Tim Sanders, author of the recently published Saving the World at Work (Doubleday), has done extensive research concerning the lifestyle demands of the rising generation of consumers, who take ecology seriously. Among his findings are that they increasingly demand to become identified with businesses that share their sense of eco-consciousness.

For example, they want to be proud of the "greenness" of where they work and live, so they can display these associations on their personal Facebook pages and blogs. They also pay more attention to a company's social contributions than to celebrity endorsements and even the content of a firm's advertising.

Thus, home buyers and apartment renters will increasingly seek out builders and communities that actively reflect their own sense of "greenness" and should be willing to spend a premium to live in a place they deem "Facebook-worthy."

A related finding is that one-fifth of the most affluent young workers plan to leave their current jobs because they perceive their companies as doing too little of social value. Thus, even beyond the initial impulse or decision to buy or rent, realtors that earn reputations for supporting ecology are likely to foster loyalty and enthusiastic endorsements among their most influential young clients.

In sum, ecology is an integral part of the outlook (and spending decisions) of those upon whom our economy will depend. Multfamily owners, developers and managers who attract the attention and deserve the loyalty of prospective residents are paving the way to their own future success.

(This entry posted by Peter Gutmann a member of Womble's Cable and Broadcast group)

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