I have always had a keen interest in real estate valuations and have learned how Zestimates and Trulia valuations are calculated.
It is important to understand how to increase your home's Trulia estimate before listing your home for sale. The time to take the actions to increase your home's Trulia estimate is well before you put your home on the market, so your efforts will bear fruit before home buyers start viewing your home on Trulia.com.
Fair or not, homebuyers consider a home’s Trulia estimate to develop a sense of the actual value of a home. What you need to understand as a home seller is that increasing your home's Trulia estimate is not difficult. The effort you take to provide Trulia with information about your home will at the very least ensure it has the best chance of reflecting the true value of your home. What often holds a home’s value down on Trulia is inaccurate, missing or out of date information about a home. When the site does not have all the information it needs to calculate a Trulia estimate for a home, the estimate will often fall short of capturing the true value of a home. The good news for home sellers is that it is not difficult to update your home's Trulia information, so that everything positive about your home will be considered by Trulia when the site formulates an estimate of your home’s worth.
Increase Your Home's Trulia Estimate
Claim Your Home, Update The Amenities and Provide a Helpful Description
The first thing you need to do is take control of the listing for your home at trulia.com. Find your home on Trulia.com, then create a free account. You can then claim your home and update your home facts. This allows you to add amenities associated with your home, such as a deck or fireplace that Trulia and people viewing your listing are unaware of. One of the neat things about Trulia is that as you update and add amenities, they actually give you a running total regarding how much the added features add to the estimated value of your home.
You can also write a description that describes in greater detail the highlights of your home and the surrounding area. In the description, you can provide additional information about your home, your location, your town, really just about anything that you think makes your home a desirable place to live. While it is currently unclear how Trulia uses a home description, since they do not display it on a home’s listing, it is worth writing, since it may help Trulia formulate a more realistic valuation for your home.
An important tip regarding writing an effective description for your home is to think like a buyer. Think back to when you purchased your home. What attracted you to it? Was it the great commute into the city? Then list the nearby commuting options. Is it located in an area that is likely to attract a lot of families. Then list the amenities that families want in their area, such as pools and parks. Also, make sure you mention if you have a fenced in yard for families to let their children run around. If you target buyer is single, list some of the entertainment options in the area or easy access to entertainment in the city.
More broadly, if your home is in move-in condition, let Trulia know that buyers can start unpacking and living there the moment they sign the papers to buy. If you have an updated open floor-plan kitchen, make sure Trulia knows is aware of that information.
Be Realistic About What Your Home Is Worth
One of the more controversial things that Trulia allows anyone who claims their home to do is assign their home a value. While everyone wants to think their home is worth top dollar, it is time to be realistic about the value of your home. It is also unclear how Trulia utilizes a homeowner’s assigned value, but it could prod them to raise their Trulia estimate, so it is worth entering a realistic home value.
If you are unsure what your home is actually worth, then take some time to view similar homes in your area on Trulia that have similar size and are in a similar condition. This also would be an excellent time to consult a real estate agent. A price comparison of similar homes that have sold in the area recently that is compiled by a licensed real estate agent is one of the most accurate ways to value a home.
How Much Is Your Home Is Worth
How To Increase Your Home's Trulia Estimate | Give It Time
Keep in mind that a home's Trulia estimate is not updated instantly after you have updated your information, listed the home’s amenities and provided a helpful description. Trulia will take into consider the changes you have made and run it through their proprietary computer algorithms to determine if a change in valuation is warranted. It may take them months to reflect the changes, if they decide to reflect them at all. For this reason, changes made to a home’s Trulia listing that are intended to increase a home's Trulia estimate should be made long before a home is listed publicly for sale. You want to put your best foot forward when you sell your. Make sure your home's Trulia estimate reflects everything it has to offer. Buyers will like use the Trulia estimate and the competing Zestimate by Zillow.com to gauge how much a home is worth before making an offer to buy.
Why Bother To Update Your Home's Zillow Information
Of course, updating your Trulia listing with accurate information that fully describes your home does not guarantee a higher home valuation. But, it certainly cannot hurt and is well worth taking to time to do. Even if expanding your Trulia listing does not result in a higher Trulia estimate, it will provide anyone who comes across your home on Trulia a much better idea regarding what the home has to offer.
When you are ready to list your home for sale, make sure you list it on Trulia and competitor Zillow. Many people like using the map views provided by these sites to find home for sale in the area in which they are looking. Make sure they know your house is for sale as they do a flyover of the area you live in.
Trulia Usage Tip
Home Sold Through Trulia.com
© 2015 John Coviello
John Coviello (author) from New Jersey on July 13, 2015:
Thanks, I'm glad you found this hub interesting and containing great tips. This is one of these things where a little knowledge and timely action can go a long way when it comes time to sell your home.
Bronwen Scott-Branagan from Victoria, Australia on July 11, 2015:
I've never heard of this word before. It sounds interesting.
Larry Rankin from Oklahoma on July 10, 2015: