Neighbor Just Listed? Do These 5 Things!

The big "For Sale" sign is up…but it isn't on your lawn!

If your neighbor has recently put their home up for sale, you may be curious about how this will impact the value of your own property. Additionally, if it has been a while since you last moved, you may be interested in learning more about the home-selling process. Fortunately, there are several things you can do to gain insights from your neighbor's sale, particularly if their home is similar to yours. Here are five actions you can take when your neighbor lists their home for sale.

Thinking about selling? Don't miss our End-to-End Stress-Free Seller's Guide, Available to Download FREE on our website! 

OBSERVE

When your neighbor's home hits the market, observe the traffic they get to gauge potential interest in your home - of course, depending on how similar the neighbors home is to yours, traffic may vary. Is there traffic slowing down to look at the home? Is the property getting lots of engagement on social media, such as likes, comments and shares? Is the seller hosting any open houses, and if so, are they busy? How many people are coming to see the home in person? 

Paying attention to the level of interest in the home may give you some idea of whether your neighborhood is in high demand. 

TALK TO YOUR NEIGHBOR

If you see your neighbor around and you are on good terms with one another, be friendly and ask them how the process is going! Selling your home can bring about plenty of emotions, and most people are happy with how they are doing throughout the process. Find out whether they have heard any feedback about their home so far. You can often uncover valuable insights into the interest levels of homes in the area or what potential buyers are looking for. 

It can also give clues about which upgrades are valuable you may want to tackle before listing your home. For example, if the landscape is getting excellent feedback and yours could use a little love, it may be something you want to address before listing. If you don't plan to list for a while, jot down any key learnings on your phone or in a notebook to refer to when the time is right. 

When the house is sold, make sure to sincerely congratulate your neighbor, and perhaps ask them again about the process once it is all over. 

ASK ABOUT THEIR LISTING AGENT

Word of mouth is often one of the best ways to ask them about the Realtor^® they listed with and if they had a positive experience or would recommend them. Did they know your neighborhood's value in comparison to the local market, or were they from out of town? How did they market your neighbor's home? How was their communication? Did they go above and beyond to ensure that your neighbor had the Best Real Estate Experience possible, or were they just treating them like a sales commission? 

OBSERVE THE PROCESS

As the home stays on the market, take note of a few key details, which can be very insightful on how your nieghborhood stacks up with the housing market. For example, how long was their home on the market? When it sold, did it sell over asking? Under asking? Were there other homes of similar value creating higher competition? And most importantly, how does the sale compare to the local market trends? If you want up-to-date stats on the Southwest Florida market, visit our Market Updates page.

MEET THE NEW OWNERS!

Good neighbors turn a block into a community. Are they first-time home buyers? Relocating from somewhere else? Did the buyers rent the home out to tenants? Be friendly and helpful to the new neighbors and, in turn, ask them about what drew them to their new home - did they like the large backyard? Did they love the upgraded kitchen?

This will help you make informed decisions about strategizing for selling your home in the future. And more importantly, you could make a friend in the process!

YOUR BEST REAL ESTATE EXPERIENCE

When you work with Faris Team, you work with Professional, Loving, Local Realtors^® who know the Southwest Florida market better than anyone and are dedicated to providing you with the Best Real Estate Experience, Guaranteed. We love going full out^® for our clients and always looking for ways to WOW them. If you want to learn more about our brand promise of Exceptional Marketing, head over to Why Sell With US. 

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Call us today at 1-239-241-5646 or send us an email to book an appointment. 

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