- SELLING RESOURCES -
Listing your home
This section walks through the things to know when listing your home.
JUMP TO
YELLOW SAYS...
HERE'S THE FULL SALE PROCESS ON YELLOW
Use this Resources section or contact us for any help along the way!
- INSPECTION -
The Only Requirement for Listing on YELLOW
Providing an inspection report to prospective buyers is essential for transparency and smoother transactions. This is very helpful to selling your home. Read on to find out more...
WHY GET AN INSPECTION NOW?
Transparency is critical, especially when selling without an agent. A pre-sale inspection ensures buyers know the condition of the home, reducing the chances of deal-breaking surprises.
FLAWS GET REVEALED EVENTUALLY
No one wants to reveal any problems with their home, but any problems would be uncovered eventually. All buyers have an inspection completed when buying a home.
ADDRESS ISSUES BEFORE LISTING YOUR HOME
A benefit of the pre-sale inspection is it will reveal any issues with your home. That allows you to fix any problems before listing your home.
Then you can get another inspection report - a clean report - that will be provided to buyers. This saves time and money and makes your home sell quicker.
BENEFITS OF A PRE-SALE INSPECTION
ZILLOW'S PRE-SALE INSPECTION BENEFITS
YELLOW SAYS...
YES, IT'S AN OUT-OF-POCKET EXPENSE, BUT...
No one likes to pay money out-of-pocket, but transparency is critical.
YELLOW is making the home sale process so easy that a real estate agent is not needed. Providing transparency with an inspection is a key to eliminating the agent and their fees.
Paying for an inspection now allows you to avoid paying agent fees and your cost will be recouped from the sale of your home.
INSPECTION - WHAT TO EXPECT
Here is an example home inspection report:
NEGATIVE INSPECTIONS
All inspections reveal issues, so don't be disappointed. The inspector can be helpful in suggesting what should be fixed and what doesn't need to.
There are two options in dealing with problems - Lower your price or fix the problem.
If the problem is fixed, consider getting a second, clean inspection so this report is the one seen by buyers. Otherwise, you can update your listing description to indicate the repairs that have been made.
FIND AN INSPECTOR
You can find an inspector in your area from a basic internet search. The following links will also show inspectors in your current location of Ashburn:
To search from a different location, click HERE (YELP) and HERE (ASHI).
YELLOW SAYS...
FINDING AN INSPECTOR
ADDITIONAL RESOURCES
- FINDING A SALE PRICE -
Pricing your home correctly is crucial to selling it quickly and for the best possible price. Homes priced right from the start tend to sell faster, while those that stay on the market longer often sell for less.
YELLOW SAYS...
UNDERSTAND THE MARKET
Just like the stock market, the real estate market fluctuates. Even if your home has significant upgrades, if the overall market is down, buyers may be unwilling to pay what you think it’s worth.
YELLOW'S FREE PRICE ESTIMATE
Yellow offers a free price estimate service, which involves comparing your home to similar properties recently sold in your area. While this estimate isn’t as precise as a professional appraisal, it provides a useful ballpark figure.
Sign up for your free price estimate here:
PROFESSIONAL APPRAISAL
For a more accurate sale price, you can hire a certified appraiser who will evaluate your home and recent sales of similar properties. This service typically costs around $400 or more.
A professional appraiser will examine your home’s characteristics and analyze the nearby market. They then create a report showing the fair market value of your home.
Here's an actual home appraisal as an example:
An appraisal can cost upwards of $400+ and you must contact appraisal companies in your area for their service. Companies can be found through a simple internet search - we are not providing any links to prevent any conflicts of interest.
PREPARATION FOR APPRAISAL
Keep your home in good condition before the appraisal. It doesn't need that “staged” look, but it should show well. The appraiser WILL take pictures of your home and its rooms, and these pictures will appear in their report. Additionally, provide the appraiser with a list of all major improvements to the home, plus any permits for projects you completed.
DETERMINE THE SALE PRICE ON YOUR OWN
Several online tools provide home value estimates. These include Zillow’s Zestimate, the Redfin Estimate, and others. While their accuracy can vary, they offer a reference point.
Sellers see these online estimates, too, which is why they should be considered. A large deviation from the estimate deserves justification.
YELLOW SAYS...
USE PSYCHOLOGY WHEN PRICING
List your home slightly below round numbers to attract buyers.
For instance, price your home at $299,900 instead of $300,000. Or $264,900 instead of $265,000.
ZILLOW
Zillow is widely known for its Zestimate, though its accuracy can be debated (like this article showing that the “Zestimate” was extremely far from the actual sale price of the Zillow CEO’s home).
According to the Wall Street Journal, Zillow came within 5% of the market price in about a third of cases, was off by 25% or more in 11% of cases, and was off by 50% or more in 3.4% of cases - although this study was done in 2007. LINK
That said, you should be aware of the "Zestimate" because buyers will be. Keep this price in mind when you are listing your home.
REDFIN
According to an independent study of on-market homes, the "Redfin Estimate is the most accurate among leading automated home-value tools". Redfin claims their estimates are the most accurate among major home-value tools, often coming within 3% of the selling price.
ADDITIONAL ESTIMATE SITES
YELLOW SAYS...
OUR EXPERIENCE WITH ONLINE ESTIMATES
Russell here. In early 2019 I had an appraisal done on my home for a refinancing. Below I'll discuss how the online estimates compared to the actual appraisal.
The estimate from Realtor.com was the closest to the number from the appraiser, coming in slightly below the appraisal. Chase was the next closest and a little further below the appraisal.
In third was the Redfin estimate, which was significantly above my appraisal. Eppraisal was even higher, FSBO, higher still, and Zillow was the furthest away and highest over the appraisal.
The estimates above my appraisal may sound like great news – but there is something important to consider. A buyer WILL have an appraisal done on your home during closing - it's required for a mortgage. If the appraisal comes in below the price you agreed on, the bank WILL NOT approve a mortgage to buy your home.
Conclusion: Don't rely too heavily on these estimates.
COMPARABLE SALES
Reviewing recent sales of similar homes in your area (comps) is essential. The more similar the comp is to your home, the more accurate the price estimate.
Appraisers focus heavily on comps. The buyer WILL have your home appraised and many deals fall apart because the home was priced too high, so it's important to stay in line with your comps.
FOCUS ON THE 'SOLD' PRICE
When evaluating comps, focus on the final sale prices, not the listing prices. The sale price reflects what buyers are willing to pay.
FINDING COMPS
Use sites like Zillow and Redfin to find recently sold homes similar to yours. Look for properties that match your home in terms of size, location, and amenities.
Zillow Comps
With Zillow, pull up the search map. Click the “Listing Type” button, then check only the ‘Recently Sold’ box. The process with most other websites is similar, too.
Redfin Comps
Redfin has something interesting. On the search page:
- Click on “More Filters.”
- Turn 'For Sale' OFF and 'Sold' ON.
From there you can narrow your search to sales over a certain time period. Plus, you can select property characteristics that closely match your own home.
On the result maps, you’ll want to look at homes that are:
Most of these postings still have pictures of the home. How does it compare to your home? Nicer features and conditions will make their home worth more, and vice-versa. Take that into consideration when pricing your home.
PRICE PER SQUARE FOOT
Buyers will look at the price per square foot of your home.
While not the most accurate metric, price per square foot can provide a rough estimate of your home’s value. Compare your home’s price per square foot to those of similar properties.
FLORIDA-SPECIFIC CONSIDERATIONS
SEASONAL MARKET TRENDS
In Florida, the real estate market can be seasonal, with more buyers looking during the winter months when snowbirds come down from the north. Keep this in mind when timing your sale.
HURRICANE IMPACT
Be prepared for potential impacts from hurricanes. Homes with hurricane-resistant features (such as impact windows and reinforced roofs) may command higher prices.
FLOOD ZONES
If your home is in a flood zone, this can affect its value and attractiveness to buyers. Be upfront about any flood insurance requirements and costs.
CONCLUSION
YELLOW SAYS...
YELLOW'S PRICING STRATEGY
Initial Listing Price: List competitively but ambitiously.
First Reduction: If no significant interest within 3 weeks, reduce price by 3-5%.
Subsequent Reductions: Continue monitoring and reduce the price every 3 weeks by 3-5% until attracting attention and buyers.
Pricing your home correctly involves a lot of factors. By doing thorough research and preparation, you can set a competitive price that attracts buyers and leads to a successful sale.
ADDITIONAL RESOURCES
- COMMISSIONS -
While it's easy to buy a home on YELLOW without an agent, many buyers will still use one.
YELLOW SAYS...
Most buyers don't realize that their agent is paid by the seller from the proceeds of the sale. It's customary for the buyer's agent to receive 3% of the sale price, but many discount services charge as low as 1%.
A COMMISSION IS THE SELLER'S DECISION
With YELLOW, you can decide if you'd like to offer a commission to the agent of the buyer.
YELLOW has already competed much of the work the buyer's agent would normally do, so full compensation may not be warranted.
YELLOW SAYS...
WE SUGGEST THESE COMMISSION OPTIONS
NO COMPENSATION
Offer no compensation with the expectation that the buyer will pay the agent on their own. It may limit your pool of buyers since agent's won't bring buyers if they don't receive compensation.
"BUYER'S AGENTS PAID BY BUYER ARE WELCOME"
This is a good option if you won't be offering compensation, but want to appear welcoming.
PERCENTAGE OF THE SALE PRICE
List a percentage you will pay, like 0.5% or 1% or 3% (keep in mind, YELLOW does most of the work).
SET DOLLAR AMOUNT
Put a flat dollar amount, like $5,000.
"NEGOTIABLE"
This shows you are open to working out a deal with the agent (and YELLOW can help).
Remember, you only pay this commission if you sell to a buyer using an agent.
ADDITIONAL RESOURCES
- STAGING -
YELLOW provides staging tips for your home, for FREE.
Staging is a crucial step in the home-selling process. It involves making your home look its absolute best to attract potential buyers. Effective staging can significantly boost your home's appeal and expedite the sale process.
WHY STAGE YOUR HOME?
Staging is more than just cleaning and decluttering; it's about creating an environment where buyers can envision themselves living. By depersonalizing your space, you make it easier for buyers to imagine their own lives in your home. Proper staging also ensures your home looks attractive in listing photos and videos, which is essential for drawing interest online.
YELLOW'S FREE STAGING ASSISTANCE
YELLOW offers complimentary staging advice via video chat. You can schedule a session where we guide you through your home, providing real-time suggestions to enhance its appeal. Connect with us below to schedule your free consultation.
YELLOW SAYS...
MAKE YOUR HOME LOOK LIKE A NICE HOTEL
Aim for a clean, open, and neutral environment. Think of the aesthetic and ambiance of a luxury hotel room - with no sign of you living there.
STAGING TIPS
REMOVE ALL PERSONAL ITEMS
Take down family photos and any personal memorabilia. This helps buyers see the house as a potential home for themselves.
KEEP ESSENTIAL FURNITURE ONLY
Remove excess furniture to create a more spacious feel, but don't leave rooms too empty. Consider what pieces a new owner would want to keep in a room and store the rest.
YELLOW SAYS...
RENT A STORAGE UNIT
Renting a storage unit can help declutter your home and give you a head start on packing. It’s a small investment that can pay off in a higher sale price.
ENSURE FURNITURE IS IN GOOD SHAPE
Only keep furniture that is in good condition. Worn or damaged pieces can detract from the home's overall appeal.
CLEAR THE WALLS
Limit wall art to a few tasteful pieces and remove personal photographs.
PAINT THE WALLS A NEUTRAL COLOR
Neutral colors appeal to the broadest range of buyers and make spaces look larger and brighter. Light grays, beiges, and off-whites are good choices.
NEUTRAL ≠ BORING
Sometimes all neutral-colored walls can make a home feel boring or stale. This is especially true with older homes, homes with older furniture, or homes without a lot of natural light.
Use accent pieces like colorful pillows, rugs, vases, or plants to add life to neutral rooms without overwhelming them..
PAINTING OVER WALLPAPER
If your home has wallpaper, consider painting over it with an oil-based primer before applying your topcoat. Ensure adequate drying time, especially in Florida's humid climate.
ADD LIVE PLANTS
Live plants can add a touch of vibrancy and freshness. Avoid fake plants as they can look dated.
CLEAR COUNTERS AND TABLETOPS
SCRUB THE BATHROOMS
Bathrooms should be spotless. A clean bathroom significantly impacts buyers' overall impressions.
CLEAN THE WINDOWS
Sparkling windows let in more light and make rooms feel brighter. Use dish soap mixed with water for a streak-free shine.
KEEP CLOSETS HALF FULL
Organized, half-full closets appear more spacious and ample for storage.
HIDE OR LIMIT KID & PET ITEMS
Minimize toys, pet beds, and bowls. Buyers need to see a clean slate.
MAKE ENOUGH SPACE FOR TWO PEOPLE TO WALK THROUGH
Couples tend to walk through rooms side-by-side. Be sure there is enough space for two people to walk comfortably through your home.
ADDITIONAL RESOURCES
CURB APPEAL
First impressions matter immensely. Homes with high curb appeal can sell for up to 7% more. Simple steps like mowing the lawn, trimming bushes, and adding some colorful flowers can make a big difference. Keep walkways clear of weeds and consider a fresh coat of paint on the front door.
YELLOW SAYS...
DEALING WITH BUGS
Bugs can be a problem, from outside pests like ants to inside pests like roaches.
A good product we use is called Talstar. It kills everything from roaches to termites to mosquitos to ants. We spray it outdoors, but it can be sprayed indoors, too.
We spray every few months and a gallon lasts for years. The cost is reasonable at around $60 (a pint goes for about $35) and a sprayer is required.
ADDITIONAL RESOURCES
TV SHOWS ON STAGING
Sell This House!
This is a good show that helps homeowners stage their home at a very low cost.
You can find old episodes on the 'Dabl' and 'FYI' networks, which are on many cable carriers. Newer episodes can be found on the 'FYI' network. You can also find episodes to watch online in the links below.
PROFESSIONAL STAGING COMPANIES
While DIY staging is effective, professional staging can offer an unbiased perspective and expert touch. Though it can be costly, it often results in faster sales and higher prices, potentially offsetting the initial expense.
Average cost, from Home Advisor:
Consider an initial consultation to get professional advice, even if you plan to do the actual staging yourself.
ADDITIONAL RESOURCES
RENOVATIONS
Be cautious with major renovations before selling. While they can enhance the home's value, they rarely recoup their full cost in the sale price. Focus on small, impactful updates and price the home competitively to attract more buyers.
Sellers are usually better off not making big renovations and instead, pricing the home lower to appeal to more buyers who can customize it to their tastes.
Source: dyernews.com
ADDITIONAL RESOURCES
- PICTURES -
Pictures are the most important part of your listing. Invest extra time to ensure they are high quality.
PREPARING FOR PHOTOS
Once your home is staged and ready, it’s time to capture its best angles.
YELLOW SAYS...
YELLOW'S PHOTO ASSISTANCE
Yellow uses professional software to enhance your home's photos, ensuring they look appealing yet realistic.
Here are some examples:
Here we adjusted the color to look more appealing while remaining realistic.
We can straighten the image and remove reflections.
Here we sharpened up the picture and removed a few distracting items. Can you find the differences?
In this picture we removed the reflection and cleaned up the colors.
Here we lightened up the shadows.
The following pictures were taken with an average camera in a home with no power and no lights. We adjusted the colors and straightened the images.
PHOTO TIPS
RANKING OF PICTURE QUALITY
Mobile devices should be a last resort!
CAMERA
Use the best camera available. The highest quality photos come from DSLR or mirrorless cameras. Point-and-shoot cameras can also produce good images. Modern cell phones can be used but should be a last resort.
Cell phone cameras are so popular and it's an uphill battle to have sellers not use them. Therefore, we've included several links to help get the best pictures out of them. Our biggest tip is to please never zoom in with the cell phone camera!
PHOTO-TAKING TIPS
Too much light can cause glares
Pay attention to the time of day you are taking pictures.
Indoor pictures should be taken when the sun is bright, but you don't want sunlight coming in through the window.
Outdoor pictures look best taken when the sun is lower and behind the cameraman since it reduces the shadows on the home.
Many people also take a twilight picture of the home when the sky is darker but all the curtains are open and the lights are on. This also helps show off any landscape lighting.
PHOTOGRAPHY TIPS, FROM ZILLOW
ADDITIONAL PHOTO TIPS
TIPS FROM AIRBNB
Airbnb is a vacation home rental site and attractive pictures make the listings more appealing. AirBNB listers share photo tips that make their property look its best.
GOOD PHOTOS MADE AIRBNB SUCCESSFUL
Airbnb is a successful company now, but they had a hard time gaining traction in the early days and were close to shutting their doors. As they were trying to figure out where they went wrong, they noticed something:
“We noticed a pattern. There's some similarity between these [bad] 40 listings. The similarity is that the photos sucked. The photos were not great photos…”
The listing photos were so bad that no one wanted to stay at the Airbnb rentals. So, the Airbnb team went to their listings and took high quality photos - and the bookings jumped immediately. They call this the turning point of the company.
Source: How Design Thinking Transformed Airbnb from a Failing Startup to a Billion Dollar Business
Here are photo tips from Airbnb:
HIRING A PROFESSIONAL PHOTOGRAPHER
Should you hire a professional photographer?
This is a common question.
Consider hiring a professional photographer, especially if neighboring listings have high-quality photos. More expensive homes benefit more from professional photography.
YELLOW SAYS...
MISTAKES TO AVOID
There are websites devoted to bad real estate pictures. Try not to end up here.
CONCLUSION
High-quality photos are essential for selling your home. Invest time and effort in capturing the best images to attract potential buyers.
- VIDEOS -
A VIDEO IS NOT REQUIRED
Creating a video walkthrough of your property is an excellent way to give potential buyers a realistic and immersive experience. Videos can capture the flow and feel of a home in a way that photos alone cannot.
Sellers on YELLOW can upload a video walkthrough of their home. The video can be as simple as walking through your home with your cell phone.
YELLOW SAYS...
YELLOW HELPS WITH VIDEO
YELLOW uses professional software to stabilize footage, clear up the picture, and adjust coloring to make your video look its best. We remove all sounds and do not add music, as videos with music often do not autoplay on many web browsers.
The video below was shot at our corporate headquarters with a simple iPhone and no lighting or staging. We made minor adjustments to the footage to make a cleaner, smoother, and more realistic video.
VIDEO CAMERA QUALITY
All recording devices can provide nice video - even the phone.
TIPS FOR GOOD VIDEO
- PROPERTY DESCRIPTION -
The purpose of the property description is to highlight desirable features that buyers can’t see from the pictures. The most important thing is to be honest and avoid overhyping your home - exaggeration is easy to spot and can turn buyers off.
YELLOW offers two ways to write a description:
USE THE YELLOW AI TO WRITE IT FOR YOU
Simply enter a few keywords, and the AI will generate a listing for you. The results are usually quite good! We suggest using the response as a draft and modifying or expanding it as you see fit. This feature is only available when logged in.
Additionally, sellers can look into using ChatGPT to create the listing description. https://chat.openai.com/
WRITE YOUR OWN
For sellers who prefer to write their own description, we’ve provided some tips below.
WRITING A DESCRIPTION
Research: Real estate websites like Zillow may still have your home’s description from when it was last sold. Use that as a guide for what to include, but do not copy the old description to avoid copyright infringement. (This also applies to photos.)
Inspiration: Look at descriptions of other homes in your area for ideas, but again, do not copy them.
Fair Housing Act Compliance: The Fair Housing Act prohibits discrimination based on race, color, religion, national origin, gender, disabilities, or familial status. Avoid terminology that even alludes to these issues. For example, even mentioning that a home is near a church can be problematic. Be cautious here.
DESCRIPTIVE REAL ESTATE WORDS
Check out these links to helpful adjectives and keywords that can enhance your listing:
DESCRIPTION STRUCTURE
OPENING
The intro should capture the reader’s attention. Descriptive adjectives like those found in the links above can be helpful.
CORE
This section highlights features and helps readers imagine living in the home. Describe the benefits of features rather than just listing them. Stay concise and factual.
A rule of thumb is to touch on the main points in the order your pictures appear (starting in the front of the home, moving inside to the living room, kitchen, bedrooms, then to the rear of the home).
Be sure to note any upgrades, renovations, or improvements you completed.
Highlight any special features of the home, like hardwood floors, marble countertops, tile showers, insulated windows, solid wood doors, nice views, outdoor areas, etc.
Also include name brands of premium appliances, windows, and doors (like Viking, Sub-Zero, Thermador, etc.) as this indicates quality.
Note any nice neighborhood or location features, too. The home may be close to certain districts or attractions, or maybe have amenities nearby like walking trails, parks, or a community pool. Also note a highly-rated school system if it is in your area (this must remain fact based, like "A-rated schools." Subjective terms like "good" can violate the Fair Housing Act).
CLOSING / CALL TO ACTION
The closing should convey a sense of excitement or urgency to encourage buyers to act. Avoid sounding too cheesy, but a well-done call to action can be effective.
Finally, don’t forget to mention that by using Yellow, you are helping buyers save time and money!
ADDITIONAL RESOURCES
By following these guidelines, you can create a compelling property description that effectively showcases your home to potential buyers.
House Hunt Network How to write real estate copy
ADDITIONAL RESOURCES
- MLS -
MAXIMUM EXPOSURE THROUGH MLS LISTING
Your home will be listed on the MLS (Multiple Listing Service), ensuring maximum visibility on major real estate websites like Zillow and Realtor.com, which pull listings from the MLS. (Zillow allows FSBO's, but intentionally undermines them in favor of Realtor listings.)
Understanding the MLS System
YELLOW utilizes the MLS of Northeast Florida. This means if a buyer's agent searches the MLS in this region, your listing will appear. However, if they search in other regions, your listing may not show up.
Nationwide Visibility Guaranteed
Rest assured, your listing will appear on Zillow, Realtor.com, and other national platforms, as they aggregate data from all MLSs across the country.
If you wish to appear in Realtor searches in other regions within the state, we can list your home in additional regional MLS systems for a nominal fee. This fee goes directly to the respective MLS, with no profit to YELLOW.
Our goal is to provide maximum exposure for your listing, ensuring it reaches as many potential buyers as possible.
The MLSs in FL
Different MLSs have different area coverage. For example, Miami has an MLS that covers the Miami area up to West Palm, but central Florida has an MLS that stretches from Gainesville down past Sarasota.
- DISCLOSURES -
Sellers are legally required to make disclosures about their home. This is true even when selling a home on your own.
YELLOW has built the disclosures into the process when you list your home, so there are no additional documents to complete. Sellers will receive a completed copy of these forms after the home is listed on Yellow.
SELLER’S PROPERTY DISCLOSURE
By law, sellers must disclose any material defects of the home that they are aware of.
This only applies to issues you know about.
You aren't expected to know about everything, especially inside the walls. However, you could face legal trouble if the problem is something obvious, like a leaky roof, and you don't disclose it. It is crucial to be honest here.
ADDITIONAL RESOURCES
DISCLOSURE TEMPLATES
The blank disclosure forms for both houses and condos can be found below.
CONDO RIDER
Condo owners must disclose details about the association and the fees charged. A blank copy of this form can be found below:
HOA DISCLOSURE
Homes with HOAs must disclose details about the association. A blank copy of this form can be found below:
LEAD PAINT DISCLOSURE
The federal government requires that buyers of homes built before 1978 be aware that lead paint may be present in the home. This does not mean the home has lead paint present, but all homes built before 1978 are required to have this notification. A blank copy of this form can be found below:
ADDITIONAL CONDO DISCLOSURES
Condo sellers are required to provide additional documents, which sellers may recall from when they purchased the condo.
Required documents include:
AFTER SUBMITTING YOUR HOME ON YELLOW
Once you’ve entered your home’s info and uploaded the pictures, it won’t immediately go live (where it appears on our website, the MLS, and other real estate websites).
Selling your home
Visits to your home
