How To Increase Home Value On Zillow the Right Way
About 90% of home buyers are searching online in their house hunt. Therefore, when you’re selling your house, it is important to increase the home value on Zillow. This price is officially known as the Zestimate.
Hundreds to thousands of potential buyers will be making decisions based on information they find online, and your home’s Zillow value is a big factor in their search.
How Does Zillow Come Up With The Zestimate?
Zillow uses an algorithm to get to your home’s Zestimate figure.
They estimate the value of your house based on recent comparable sales in your area including square footage, number of rooms, and amenities.
This means that if there are many other similar houses around yours selling at lower prices, then you need to communicate to Zillow that your home is different, and explain why (more on how to do this later).
Of course, the Zestimate is never going to be a perfect barometer for the true value of your home. It’s best understood as an estimate which can sometimes fluctuate as much as 5-15% lower or higher than what you will end up selling for. A good rule of thumb in real estate is that a home is only as valuable as what a home buyer is willing to pay for it.
Regardless, the Zestimate does create a first impression for potential buyers, whether it’s accurate or not. If the Zestimate says your home is worth $2 million and you think it can sell for $3.2 million, you need to address this gap.
For this reason, it’s important you do everything in your power to increase your Zestimate to win that first impression.
Increasing Your Zestimate (Zillow Estimated Price) in Two Easy Steps
Before you can do the steps below, you need to make a Zillow account if you don’t have one already. Don’t worry, it’s free and easy to set up.
Once you’re signed in, it’s time to take action.
1. Claim ownership of your home
Sign into Zillow and then search your property address in the search bar. Once you find it, click and claim your home.
You’ll next be asked to enter in specific information about yourself for identification purposes.
2. Update all the key facts on Zillow
The Zillow algorithm is using inputs from claimed homes to spit out a Zestimate, so put in all the time necessary to go through every input and enter in the new information.
If you’ve made renovations that aren’t reflected in the inputs, it is crucial to give Zillow the new specifications so they reflect in your new Zestimate.
Curious as to what has the biggest impact on price? The big three are: increasing the number of bedrooms; increasing the number of bathrooms; and increasing the square footage of your home.
Though updating the flooring from carpet to hardwood won’t help as much as 800 extra square footage of home space, it does all add up. Pretty much every upgrade boosts your Zestimate value to some degree.
After doing this work, you can rest assured that you did what you could to increase the Zestimate value. It may take one or two months for Zillow to update the Zestimate, but it could be sooner if you’re lucky.
You can also add a well-written description that calls out all the exciting features of your home so buyers and their realtors are primed in advance of a visit.
Adding quality pictures to improve the perceived value of your home can also help build up the buzz, especially if the pictures on Zillow are years old. Take new photos yourself or – even better – hire a photographer, and upload them to your Zillow property.
More Ways To Increase Your Home Value
Want more ways to increase your home value, which will in turn increase the Zillow value?
Curb Appeal – Curb appeal is what potential buyers see first before entering your place. Your house will increase in value if it looks inviting from the curb: a manicured lawn, trimmed trees, fresh flowers, and a sense of neatness leading up to the door.
Kitchen Renovations – The kitchen is the most important part of the house. Simply upgrading your kitchen flooring and lighting, painting the walls, and adding a new sink, dishwasher, refrigerator, and oven stove will go a long way to create a warm and high-end feel. Your goal is to get buyers to envision themselves cooking and eating in this beautiful space.
Bathroom Renovations – Besides the kitchen, the areas most people focus their attention on are the bathrooms. It’s often worth it to invest money in minor, or major, bathroom renovations. This could mean anything from replacing the shower, tub and sink, to adding new mirrors and light fixtures. No one wants to buy a house with outdated bathrooms or showers.
Adding Rooms/Bathrooms – This is the biggest way to increase the value of your home. While it can get expensive if you’re having to add walls or do major demolition, if there’s an affordable way to add to your home’s number of rooms or bathrooms, do it! (And be sure to update this information on your Zillow for a higher Zestimate!)
Home Maintenance – Maintaining your property well and making sure you resolve any maintenance issues will increase the perceived value on Zillow and make your home more attractive to potential buyers. This way, your buyers can enjoy the home they just purchased rather than spending the first six months fixing it up!
Conclusion
By doing a little bit of strategic work on Zillow, and possibly putting in some sweat equity or investing in renovations, your Zestimate (and true home value) will increase.
If you’re looking to truly get the most out of your home sale price, luxury real estate agent Mike Plotkowski can help you get top dollar by working with you to make your home as attractive as it can possibly be to sellers.
