Sea level rise flooding is real. Property owners and governments all along the Atlantic, Pacific and Gulf of Mexico coastlines are spending millions of dollars to hold back the rising waters.
Individual property owners are raising docks and seawalls and elevating their property to prevent flooding that’s occurring now or expected in the years to come. Governments are busy planning for sea level rise flooding and implementing projects, such as building seawalls, raising seawalls, installing pumps, and elevating critical infrastructure, including roads and pipes.
With all this activity, it’s clearly dangerous for real estate agents in most coastal areas to deny sea level rise is a threat to their buyers, sellers and community. Now is the time for them to educate themselves about sea level rise in general and to identify areas that currently flood or are at risk of flooding in their communities. They also need to know how sea level rise flooding is affecting specific properties, neighborhoods, flood insurance premiums, tax rates and homeowners association and condo association fees. The mortgage market, too, will determine the fate of entire communities.
Real estate agents who turn a blind eye to sea level rise flooding ultimately put their own financial futures at risk. Buyers who unwittingly purchase properties that flood could easily sue agents for negligently not knowing their own farm areas.
This Sea Level Rise Real Estate video explores the risks sea level rise flooding presents to real estate agents. It’s the fifth and last in the introductory series. All the videos — an introductory video and episodes that focus specifically on buyers, sellers, owners and real estate agents — can be binge-watched here. For even more in-depth information, take a look at our book: “7 Sea Level Rise Real Estate Questions for Buyers, Sellers, Owners & Real Estate Agents.”