The easy way to make real estate ads stand out
Although floor plans are standard on property listings in many European countries and Australia, floor plans are not required and do not exist on most property listings in the United States.
“Historically, people thought floor plans were difficult to produce, expensive, or both,” said CubiCasa President Jeff Allen. “Before five or six years ago, the only way to produce a floor plan was by hand, by hand drawing, measuring and sketching. And properties in the United States are very large and complex.
Even recently, with technologies such as virtual tours or dollhouse-style immersive tours that provide floor plans, these services can be expensive, requiring special training and equipment, and time-consuming to collect data. , says Allen.
Due to cost, time, and difficulty barriers, floor plans have been considered a niche product, but CubiCasa aims to change that.
“That’s our mission,” Allen said. “We want to change the American paradigm so that floor plans become ubiquitous in the listing process.”
Benefits of including a floor plan
Despite the fact that floor plans aren’t standard in US listings, homebuyers are looking for them.
According to a report by the National Association of Realtors, home buyers rate floor plans as the most sought-after feature on a real estate listing, after standard listing photos and property data.
“Buyers want them because the floor plans give a quick and clear idea of the space and flow of the property,” Allen said. “Because floor plans also include room measurements and dimensions, they give buyers a clearer idea of, ‘Okay, will my furniture, my lifestyle, fit in actually in these rooms?’ You give the buyer much quicker insight into their willingness to make an offer.”
Additionally, buyers often filter results on listing sites to find listings with floor plans. “It’s another way to get people’s eyes on your listing first, which is becoming increasingly important now that there are more and more homes on the market,” Allen said.
Buyers aren’t the only ones who benefit from detailed floor plans, either. A floor plan can give the seller a much more accurate idea of the square footage of their property, as well as an idea of how this might impact its marketability or the appraisal process.
Overall, including a floor plan can make a real estate listing more appealing, contribute to a higher sale price and faster time to close, as well as provide all stakeholders with a better experience throughout the home buying process.
CubiCasa’s plan to make floor plans ubiquitous
CubiCasa is poised to help make floor plans a standard part of US listings through the use of its mobile capture technology, which has produced over one million floor plans to date.
“CubiCasa is the only technology in the world capable of producing an accurate floor plan from a five-minute period, without training [required] scan that can be done with your smartphone,” Allen said.
While other solutions require special hardware, training, and a lot of time spent capturing on location, CubiCasa eliminates these difficulties by applying advanced computer vision techniques and a production automation process to phone capture. of a user.
“All the user has to do is just walk through the house with their phone pointed in front of them as they walk, and the scan is captured, your phone data is captured, and it’s all processed by our proprietary models. , which then sends you back the floor plan result with all the dimensions, details and square footage you’re looking for,” Allen said.
From this simple visit, the technology produces a highly accurate floor plan sketch, with the ability to calculate the GLA according to ANSI standards. Square footage is the second highest factor in a home’s value, and CubiCasa’s technology helps minimize inconsistencies and variations in the property data collection and inspection process.
And in an effort to make floor plans standard in US listings, CubiCasa now offers a free floor plan option.
“There’s no excuse not to have it on your rosters now because if you’re a listing agent it’ll take you five minutes and cost you nothing,” Allen said. “And it provides major benefits to your potential sellers and buyers.”
Ultimately, CubiCasa’s goal is to create the tipping point where the market decides that every ad should include a floor plan. If it’s simple and easy for listing agents to include floor plans, more listings will include them. From there, buyers will start to expect to see floor plans, leading to a more widespread change in behavior for sellers and listing agents where they choose to include floor plans all the time.
“If we can change the market so that buyers start to expect it, then the whole market will win because buyers will be better informed,” Allen said. “Everyone will have a clearer idea of what a property is before they go to see it, and ultimately they’ll be closer to making a buying decision than they would be without it.”
For more information, visit https://www.cubi.casa/.