Make More Money, Save Yourself From Legal Issues and More…
When it comes to selling a property, many realtors or agents do not consider purchasing floor plans because they may think it’s unnecessary. However, in today’s age, purchasing floor plans are more important than ever—especially because the real estate market has shifted from offline to online. This is why properties with floorplans get more clicks, views, and leads than properties floor plans.
This being said, in this article, we discuss 6 benefits to floor plans and why they are essential to any realtor’s marketing strategy.
1. Floor plans allow buyers to view the space of the listing without having to attend an open house.
⅓ of buyers do not inquire listings without floor plans as most buyers want to see the flow of the property and the layout of the home (Rightmove, 2013). This is because floor plans give buyers something to look at, something to interact with and something to visualize.
2. Real estate photography, without floor plans, does not do justice anymore.
Professional photographs are good…but floor plans are essential! Without floor plans, buyers are unaware of the home’s flow, layout and size proximity. As a result, homebuyers base judgment off of images which, as everyone knows, does not do justice (Calgary Real Estate Review, 2013).
3. Professional measurements avoid legal issues caused by guessing the square footage and misrepresenting the size of the listing.
“Vancouver real estate lawyer Ron Usher says square footage misrepresentation is a growing problem in hot housing markets (Johnson, R, 2016).” As a result, many realtors are facing legal battles that are costing them and tarnishing their reputation. Furthermore in a misrepresentation of square footage lawsuit, the National Association of Realtors, states in one case that the realtor was sued to up to $145,000 in damages (National Association of Realtors, 2009).
4. Real estate floor plans provide buyers with more information and details about the listing resulting in fewer questions and answers back-and-forth.
95% of buyers search for real estate online. This being said, buyers want as much information as possible as they do not necessarily want to contact a realtor or agent right away. By offering floor plans of your listings online, you give buyers more information and thus, reduce the number of questions, phone calls, emails, etc. (Inman, 2010).
5. Floor plans attract more serious buyers to open homes.
1 out of 10 buyers would never schedule a visit to an open house without seeing a floor plan first (Rightmove, 2013). In other words, by showing floor plans, realtors can attract more leads who will not be caught by any surprises since they know what to expect in terms of the properties’ flow and layout.
6. Floor plans impress future buyers on your website, portfolio, and professionalism.
In May 2016, only 18% of listings on Rightmove had floor plans. What this means is that your website, portfolio, and professionalism looks that much better in comparison to your competition (Rightmove, 2013). In addition, real estate floor plans have the potential to increase click-throughs from buyers by 52% (National Association of Realtors, 2017). So not only do floor plans bring potential buyers to your website, but they also get them to click on more listings to view.
Calgary Real Estate Review, 2013. Why Choose An Agent That Uses Floor Plans In Listings? Retrieved from: https://calgaryrealestatereview.com/2013/11/26/select-an-agent-that-uses-floor-plans-in-listings/
Inman, 2010. Add floor plans to your real estate arsenal from the Future of Real Estate Marketing. Retrieved from: https://www.inman.com/2010/09/20/add-floor-plans-your-real-estate-arsenal/
Johnson, R, 2016. CBC News: Calgary homeowner says realtor who ‘misrepresented’ square footage on MLS cost her thousands. Retrieved from: https://www.cbc.ca/news/canada/calgary/realtor-misrepresents-square-footage-1.3487389
National Association of Realtors, 2017. Real Estate in a Digital Age. Retrieved from: https://www.nar.realtor/sites/default/files/reports/2017/2017-real-estate-in-a-digital-age-03-10-2017.pdf
National Association of Realtors, 2009. Bowman v. Presley: Lawsuit over Square Footage Proceeds. Retrieved from: https://www.nar.realtor/legal-case-summaries/bowman-v-presley-lawsuit-over-square-footage-proceeds
Rightmove, 2013. Maximize the chances of finding a buyer with a floorplan. Retrieved from: https://www.rightmove.co.uk/news/articles/property-news/maximise-chances-finding-buyer-floorplan/