How to Increase Your Home's Zillow Zestimate
How to increase your home's Zillow Zestimate is a question that many home sellers ask before listing their homes for sale. Whether it is fair or not, homebuyers look at a home’s Zillow Zestimate to gauge the true value of the home. Although there are other independent measures of a home’s value, including Zillow’s rival Trulia’s estimate and independent home appraisals, a home's Zillow Zestimate is considered by many buyers to be the most reliable gauge of a home’s value. What home sellers need to know is that increasing a home's Zillow Zestimate is not difficult. What Zillow often lacks is accurate up to date information about a home, which can cause Zillow to calculate a Zestimate for a home that is lower than it should be due to a lack of information about what the home actually has as far as amenities. Luckily, this information is something you can easily provide to Zillow to potentially increase your home's Zillow Zestimate.
Increase Your Home's Zillow Zestimate
How To Increase Your Home's Zillow Zestimate: The Power Is In Your Hands
The power to increase your home's Zillow Zestimate is in your hands. The first thing you need to do is go to zillow.com, create a free account, and then look up your home. Once you have found your home on Zillow, claim it as your home. Once you claim your home, you are free to update the amenities within and around your home, add a description of your home, what you like about your home, and even what you believe your home is worth.
Make Sure You Check Off All of The Amenities
Read the list of amenities that Zillow provides carefully and check off boxes that apply to your home. Be sure you do not miss anything, as each amenity will factor into the Zestimate for your home. You can further describe any amenities in your description of your home. For example, Zillow has a check off for attic. You can check it off and then use your description of your home to describe the condition of your attic. For example: “The attic has plywood and a pull down ladder that provides ample extra storage space.”
Tailor Your Description To Meet Your Buyer’s Needs
In description of your home, think like a buyer and tailor your description to suit their needs. For example, if you assume most of your potential buyers will need easy access to commuting options to get to work, then emphasize how convenient your home is for commuters. For example: “Located only five minutes from the local train station. Also, a commuter bus has a stop approximately one-quarter mile away.” Other than that, the description should emphasis things that buyers look for in a home, such as: remodeled bathrooms, stainless steel appliances, stone countertops, a fenced-in yard, and terms such as “move in ready” or “in a great area for families,” if the statements are applicable.
Get Creative About What You Like About Your Home
In the what you like about your home section on Zillow, describe amenities and other things about your home that may not be readily apparent to potential buyers. For example, if there is a park a half-block away or a beautiful view from your home, make sure you emphasize that when describing what you like about your home. Buyers with children may like the fact that there is a park within walking distance. Other buyers may be looking for a home that has a nice view, instead of a view of the back of another home. Get creative regarding what you like about your home. You can even mention amenities in your area, such as shopping or entertainment, as they can help sell people on buying your home.
Be Realistic About What Your Home Is Worth
If you are going to put a value on Zillow in the what you believe your home is worth section, make sure it aligns with your asking price for your home. You do not want to list your home for sale at a price higher than what you publicly state on Zillow what you believe your home is worth. Be realistic when considering what you believe your home is worth. People naturally tend to think their home is worth more than it actually is. Take a few moments to see what homes of similar style, condition, and size have sold for in your area recently and formulate a realistic value for your home.
Avoid Exaggerations Regarding Your Home
Be honest when updating your home's Zillow information. While it is tempting to exaggerate a home’s amenities, any exaggerations could turn off potential buyers or even lead to a lawsuit if someone purchases your home and finds the information provided to be inaccurate. If you have a nice home, describing any amenities accurately should be all you need to attract buyers. Keep in mind that Zillow’s Zestimates are not updated instantly, and it could take weeks or months for any changes you have made to be reflected in the Zestimate for your home.
Why It Is Important To Update Your Home's Zillow Information
While there are no guarantees that adding additional information to the Zillow page dedicated to your home will result in an increase to your home's Zillow Zestimate, providing additional information certainly cannot hurt. If amenities that exist in your home, such as a fenced in yard or hard wood floors, are not selected in Zillow, then in most cases Zillow will assume you do not have them and will likely reduce the Zestimate for your home. You also want potential buyers to see all the amenities your home has to offer. While the description of your home and what you like about your home sections on Zillow may not directly impact the Zestimate, they could impact potential buyers’ decisions to look at your home and ultimately to buy your home.
Of course, it is also important to list your home for sale on Zillow once you have updated the information. Many people in the market to buy a home will fly over a neighborhood they are interested in buying a home in. When you list your home with Zillow, a red symbol of a home will appear on your property, which alerts buyers that your home is for sale. They can then click on the red home symbol to see the Zillow page for your home that includes the detailed information about your home that you provided. Make sure that those potential buyers have plenty of information about your home, so they form a positive opinion and want to contact their realtor to view your home in person.
Zillow Zestimate Poll
What Do You Think of Zillow's Zestimate?
What Is a Zestimate?
Understanding the Zillow Zestimate
Questions & Answers
The Zestimate on mynewly listed home has dropped by $10,000 in 3 days. What would be the reason for that?
I'm not sure, but it's most likely because Zillow did a price comparison when your home listing appeared and found comparable homes that sold for prices that brought your home value down by $10,000.
How can an appraiser value my home almost $20,000 less than Zillow and Redfin?
It is possible that Zillow and Redfin are making assumptions about the features associated with your home, while the appraiser with their first-hand look did not find these features. They could also be using different sales to calculate their comps. Keep in mind that appraisers tend to be conservative by nature, especially after the financial crisis of 08/09, which called some of the actions of those in that line of work into question.
© 2013 John Coviello