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How to identify a qualitative property listing?
In the current macroeconomic context that puts the buyer experience at the heart of the real estate agent's daily life , there is one question that pops up: how to enhance property listings in order to improve online visibility, attract more prospects and differentiate yourself from the competition. Through our 2022 analysis, we focussed on 4 characteristics that define a qualitative property listing:
Opportunities for improvement
When comparing multiple listings, we’ve noticed that in 89% of the cases photos, videos, virtual tours and floor plans are under-exploited.
Photo quality
The quality of the photos is essential to improve the visibility. Studies have shown that 60% of the time spent on real estate ads is spent on photographs. And according to our market analysis high quality photos allow you to gain 4 times more visibility. However, only 35% of properties for sale and 22% of properties for rent in 2022 had high quality visuals. We figured this out by using artificial intelligence to score photos' quality, and analysing numerous real estate ads in the French market. In order to do so, we used a machine learning model built around 12 metrics that can certify the quality of a picture. Exposition, contrast and colour fulness were some of the metrics analysed to qualify the quality of each photo.
Videos
videos have become the easiest piece of media to consume with the biggest impact. They bring 5 times more engagement. And even though this kind of is popular with 73% of sellers, in France we observed that only 0.5% used videos to promote their listings in 2022.
Virtual tours
Nowadays virtual 360° tours have become a well-known must have in the real estate market. According to a Zillow study, 74% of sellers request 360° visits. However, in France, only 13% of property listings showcase 360° visits. Creating opportunities in France to differentiate yourself as a real estate agent, since only 1 out of 10 real estate listings include virtual visits and the vast majority of prospects would prefer to have them included. In the US for example, 95% of web users would like to visit remotely before doing a visit in person.
Virtual visits published by real estate agents that use Nodalview have received more than 49 million views, which represents a staggering average of 300 viewings per virtual visit per listings.
Floor plans
And last but not least, floor plans. They add comfort through a spatial representation that helps you know the property better. At the European level, we can see some interesting trends… while in the UK 80% of ads include floor plans, in France, it is only 9%. We believe this is yet another opportunity for agents to up their game and stand out while meeting current market’s expectations.
Conclusion
With the current market conditions, it is becoming more difficult and expensive for people to buy a home, and fewer transactions in the market are bringing more challenges for real estate agents to stay profitable and thrive. It is necessary to go the extra mile to improve online visibility, be more efficient and differentiate yourself from the competition as an agent.
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To sum up
WHAT KIND OF RICH MEDIA DEFINES A GOOD QUALITY PROPERTY LISTING?
There are 4 characteristics that define this :
WHY SHOULD REAL ESTATE AGENTS INCLUDE VIDEOS & VIRTUAL TOURS IN THEIR LISTING?
First, because videos bring 5 times more engagement and are requested by 73% of sellers. And also, 74% of sellers would like to see a virtual tour when looking for a property online. However, they are only used in 13% of ads in France.
