Research shows that floor plans are the most sought-after information on property listings, and thanks to AI, they will now be easier to find on realestate.co.nz.
Floor plans for property listings can be loaded as images on most New Zealand property sites, which can mean scrolling through a plethora of property photos to find them. But the addition of AI to realestate.co.nz means floor plans will be detected and surfaced in a way that property seekers can identify and access in search results and on listings.
Sarah Wood, CEO of realestate.co.nz, says that property listings with floor plans get more engagement than those without, so the decision to make them more prominent is good news for buyers and sellers alike.
"We know that listings with floor plans are viewed for 3:39 minutes longer, on average, than those without, and they receive 20.5% more enquiries1.
“But if a floor plan is buried amongst a sea of other property images, it's just not working hard for the seller."
"We also know that, for buyers, seeing a floor plan can help them decide whether a home suits their family and lifestyle."
Research conducted by realestate.co.nz recently found that floor plans are considered the most important piece of information that people want to see when searching for a property2.
External research by Kantar backed this up, with property seekers saying floor plans were the feature they used most, after estimated property values2.
Sarah says realestate.co.nz undertakes user research regularly as part of their commitment to improving the user experience:
“Our focus is always on the property owners and seekers browsing for property and information on our site. We know this new AI tool will benefit people using our platform.”
Since adding AI technology to the site, the number of listings showing with floor plans in search results has increased from approximately one in 10 to one in five.
Sarah says that realestate.co.nz has a proud history of innovation and disruption and that the addition of AI is an example of this:
"Believe it or not, the concept of online listings was met with scepticism when realestate.co.nz began, before Google, in 1996. People said that the idea would never take off."
"Lucky for us, a strong vision and the desire to innovate led to the development of what we now know as realestate.co.nz and changed how Kiwis bought and sold property forever. In many ways, AI is now what the internet was in 1996."
As a business, we are always finding new ways to make the buying and selling journey easier.
"We are a tech company that lives and breathes property," adds Sarah.
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2Research by realestate.co.nz asked, "What information would you like to see on the property listing page?" and found 47% of 200 respondents selected floor plan. Additional external research of 803 participants by Kantar found that the floor plan was the second most used feature on a property listing.