Don’t go on Zillow: Follow this process instead.

Today, I want to address one of the biggest questions that we get asked: if we're going to sell our home, how much equity will we be able to pull from that sale? Of course, you have a growing asset. You want to know how much equity you have in your home if you are considering selling.

Many different things go into selling from a cost perspective. One of the things I always recommend to our clients is to get an annual equity update. What we do as realtors is run a full CME on your house, which is a comparative market analysis that shows you exactly what your home could sell for in the market today. After we run the CME and know how much your home is worth, we can calculate your net proceeds. As realtors, we plug it into a spreadsheet or an equity calculator and find out exactly how much it will cost to sell your house.

“You want to know how much equity you have in your home if you're going to consider selling.”

This is important because you don't only have realtor commissions involved, but you have county taxes, state taxes, and title charges. There are multiple different things that the state and counties require that go into the sale of your home. This calculator will get you down to around $1,000 of average equity you can pull from the home.

Don't go on Zillow. Don't go on these realtor websites. Don't get me wrong, I love the websites, but they're not accurate when it comes to selling your home. They're especially not accurate when it comes to calculating the exact cost of selling your home.

The biggest thing I want you to remember is that we're happy to run a market analysis on your home every single year for you. Just reach out. Send us a simple email or contact us through one of the emails you've received throughout the year. I'd be happy to put that together for you. If you're looking to sell your home, make sure you know the numbers. First, visit a title website. Call your trusted realtor, and you'll be able to get a very accurate analysis of how much equity you can pull from your home through a sale or a refinance.