Why don't I want a free floor plan?
Really great question! In fact, it's so good that I'm struggling to come up with an answer. Are you trying to create a sense of "wonder" so prospects need to attend an open house? Maybe you're the bare minimum type of agent and don't believe buyers deserve the data? Did a floor plan do something to hurt you personally and now you want revenge?
Why do I want a free floor plan?
This is the better question. According to the 2022 National Association of Realtors Report, home buyers value details in this order: 1) The actual real estate photos; 2) Standard listing data such as square footage/build date; 3) Floor plans.
If you browsed the internet in the past few years then you probably believed virtual tours would be the wave of the future. Yet, studies have consistently shown that a basic 2D floor plan ranks higher on buyer's list of wants. Here are some other stats to consider when weighing the price of a free floor plan versus waiving it:
80% of buyers said they're more likely to view a home if the listing includes a floor plan
Homes undergoing extreme construction won't otherwise have updated proportions
Floor plans are essential for out-of-state buyers and unique properties
A home with "good bones" but ugly parts can easily be redeemed by highlighting valuable dimensions
Are floor plans a marketing thing?
With a bit of luck and strategy they can be! Imagine a world where your inbox is filled with serious inquiries, void of low ball offers, and every prospect has already done the research they need to make a decision. How do floor plans help you achieve this dream?
2 out of 3 online viewers used floor plans to determine initial interest interest in a property. If you've ever heard of lead generation then you'll immediately recognize that number as a game changer.
51% of buyers said they eventually used floor plans as part of their decision-making process. It lets them know if furniture will fit, how big rooms are, and if the overall space suits their lifestyle. You are giving buyers the tool they need to accurately research.
93% of buyers say they will spend more time looking at property listings if there are floor plans. In fact, floor plans for real estate listings are viewed 7.5 times more often. A lingering eye is a wanting one.
Listings with floor plans spend 50% less time on the market. Connecting with the right buyer, quicker, translates directly to selling more homes.
Overall, if your perspective on selling a home is that you need to put the right property in front of the right buyer, then you'll want to show them all the important details.
What happens if I don't order a floor plan?
Buyers cannot self select. This is actually a bad thing because more leads does not necessarily mean more sales! Is it helpful if an elderly or disabled person keeps being shown locations that have stairs? Do you want to show a young family homes with no space to grow into? Openly offering these details during the initial draft selection saves you time and frustration. It also helps to avoid the following situations:
1 in 5 buyers said they ignore listings without the floor plan
1 in 10 buyers said they wouldn't attend a showing without seeing the floor plan
42% of buyers said they wouldn't hire someone that doesn't offer a floor plan
Being lambasted on anonymous listing forums like the one below
How does it work?
Studio Vos is proud to be a CubiCasa preferred photographer! This means that a high quality Studio Vos 2D floor plan with dimensions comes FREE with every photo order. Simply select the clearly marked option during checkout and your complimentary floor plan will be delivered within 24 hours alongside your real estate photography. That's really it! No codes, no limits, and no jumping of special hoops required. But hey -- if you want to brag that "I know the owner" then Brandon won't stop you 😎
Why aren't there more listings with floor plans?
The internet's consensus is that they're too expensive. We can't really blame anyone for agreeing with that sentiment. Just take a look at one of our anonymous local competitors's prices for real estate photography floor plans:
Although their prices are lower than the national average, Studio Vos is not like all the other real estate photographers -- we're the cool ones. Even before we switched to FREE floor plans, we used to price them at only $75 for anything under 3,000 sqft and $155 for anything up to 10,000 sqft. For now, your Helps stand out (as long as others are still creating a cost barrier)
For now, merely 16% of active listings contain a floor plan! That makes it plain to see how your listing will stand out, attract more leads, and sell faster. Ultimately, when agents proactively acquire floor plans the entire selling process moves smoother. Buyers, sellers, designers, stagers, and agents can all agree that floor plans with measurement dimensions create a better experience for each party involved. Studio Vos is proud to be part of ensuring everyone has access to this important tool.
Thanks for making it to the end
If you enjoyed this week's post then you'd probably appreciate our last one about using Instagram as a sales funnel. Or if pictures with single sentence captions are more your style then head over to our our Instagram. Alternatively, the Facebook page is stuffed with behind-the-scenes bonus content from our team.
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