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UBC Theses and Dissertations
Building performance benchmarking data for residential condominium buyers Theaker, Ian G.
Abstract
Growing concern with energy and climate issues has lead many jurisdictions globally to enact building performance benchmarking and transparency regulations to transform real estate markets. But market transformation success depends greatly on the choice, timing and display of information presented to keystone market actors. This thesis assesses what, when and how benchmarked building performance data could inform and support search and purchase decisions by Canadian condominium homebuyers. A preliminary survey of European and North American building benchmarking regulations guided a broad review of market transformation, behavioral economics and decision psychology theory. A generic home search and purchase process, refined by realtor interviews in “hot” Vancouver and Toronto condominium markets, identified market actors, decisions, and information sources. An online survey and telephone interviews elicited the desires, preferences, knowledge and information sources of active condominium homebuyers in Toronto. Qualitative analysis of thirty-three surveys and interviews with eight respondents revealed strong latent demand for building performance energy cost and consumption information, and that many would also value information on greenhouse gas emissions. Multiple listing services and realtors were found to be buyer’s most-used sources for real estate information. While a few saw reputational risks from public data on household energy and emissions, others believed that it would provide personal and societal benefits. Annotated performance data graphics in the survey had little influence on buyer preferences at key search and purchase process stages. This research indicates that real estate market transformation success through public transparency of benchmarked performance data is likely to depend on: • legislative language that explicitly establishes improved energy, cost and climate performance as primary policy goals, and identifies market transformation as a key strategy and homebuyers as essential targets for benchmarked performance data, • collaboratively developing standard benchmarking performance metrics and calculation protocols suited to both policy goals and decision needs of homebuyers and other key market actors, • research on how MLS web portals can graphically display benchmarked performance data to effectively inform homebuyers’ search and purchase decisions, and • requiring real estate advertising, particularly MLS listings, to display standard benchmarked energy cost and emissions performance metrics and graphics.
Item Metadata
| Title |
Building performance benchmarking data for residential condominium buyers
|
| Creator | |
| Publisher |
University of British Columbia
|
| Date Issued |
2020
|
| Description |
Growing concern with energy and climate issues has lead many jurisdictions globally to
enact building performance benchmarking and transparency regulations to transform real
estate markets. But market transformation success depends greatly on the choice, timing
and display of information presented to keystone market actors. This thesis assesses what,
when and how benchmarked building performance data could inform and support search
and purchase decisions by Canadian condominium homebuyers.
A preliminary survey of European and North American building benchmarking regulations
guided a broad review of market transformation, behavioral economics and decision
psychology theory. A generic home search and purchase process, refined by realtor
interviews in “hot” Vancouver and Toronto condominium markets, identified market
actors, decisions, and information sources.
An online survey and telephone interviews elicited the desires, preferences, knowledge and
information sources of active condominium homebuyers in Toronto. Qualitative analysis of
thirty-three surveys and interviews with eight respondents revealed strong latent demand
for building performance energy cost and consumption information, and that many would
also value information on greenhouse gas emissions. Multiple listing services and realtors
were found to be buyer’s most-used sources for real estate information. While a few saw
reputational risks from public data on household energy and emissions, others believed
that it would provide personal and societal benefits. Annotated performance data graphics
in the survey had little influence on buyer preferences at key search and purchase process
stages.
This research indicates that real estate market transformation success through public
transparency of benchmarked performance data is likely to depend on:
• legislative language that explicitly establishes improved energy, cost and climate
performance as primary policy goals, and identifies market transformation as a key
strategy and homebuyers as essential targets for benchmarked performance data,
• collaboratively developing standard benchmarking performance metrics and
calculation protocols suited to both policy goals and decision needs of homebuyers
and other key market actors,
• research on how MLS web portals can graphically display benchmarked
performance data to effectively inform homebuyers’ search and purchase decisions,
and
• requiring real estate advertising, particularly MLS listings, to display standard
benchmarked energy cost and emissions performance metrics and graphics.
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| Genre | |
| Type | |
| Language |
eng
|
| Date Available |
2020-12-11
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| Provider |
Vancouver : University of British Columbia Library
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| Rights |
Attribution-NonCommercial-NoDerivatives 4.0 International
|
| DOI |
10.14288/1.0395235
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| URI | |
| Degree | |
| Program | |
| Affiliation | |
| Degree Grantor |
University of British Columbia
|
| Graduation Date |
2021-05
|
| Campus | |
| Scholarly Level |
Graduate
|
| Rights URI | |
| Aggregated Source Repository |
DSpace
|
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Attribution-NonCommercial-NoDerivatives 4.0 International