Real estate industry needs to switch to EVs

Real estate agents driving petrol or diesel vehicles are being encouraged to use EVs instead by Tall Poppy Real Estate which is rolling out its own EV fleet.

The Kapiti Coast-based agency is issuing a challenge to the industry to do more for the environment.

Real estate agents emit tens of thousands of tonnes of CO2 each year, and more than 500,000 native trees would need to be planted and grow for 20 years to offset just one year’s worth of emissions, Tall Poppy says.

It is working with Carbn Asset Management to assist with the transition of the company’s internal combustion engine (ICE) vehicles to EVs.

Based on a sample of Tall Poppy sales consultants’ vehicles, Carbn’s analysis reveal an average distance travelled of 22,400km annually with each individual vehicle emitting about 5.9 tonnes of CO2 per annum.

When the potential impact of fossil fuelled cars is considered across the entire industry, it reveals a serious problem, Tall Poppy chief operating officer Michael Cummins says.

“The Real Estate Authority reported 14,234 active license holders in New Zealand in 2019. If each of these agents drive a similar average distance of 22,4000km, in a similar type of vehicle, they each may also emit 5.9 tonnes of CO2 per year,” he explains.

“Real estate agents spend most of their time in their cars, travelling to meet vendors and buyers. “Emissions are a sleeping giant in our industry, and one I don’t think people want to openly address.”

Tall Poppy’s new photography/videography national workforce is the first team to receive the new EVs, and sales consultants who switch to an EV will become ‘Eco Agents’ and receive incentives.

Moving to a fully electric vehicle has an immediate positive impact on the environment and the cost of running an EV makes good economic sense as well, Carbn transition manager Mark Ruddlesden says.

“EVs typically cost less to maintain and less to ‘fuel’. Travelling the average distance of 22,400km, the total fuel cost is currently estimated at $3850 per year for an ICE vehicle,” he says.

“In comparison, the annual electricity cost for an EV travelling the same distance is estimated to be $740.”

The ongoing cost to service an EV is also significantly lower than an ICE vehicle, mainly due to the lower number of moving parts.

Tall Poppy plans solar-powered reusable signs next, replacing the corflute plastic used for generations on real estate signs across the country.

Its head office is also moving to becoming paperless later this year.