Whether two properties are next door or down the block makes no diff.
You should enlist that help of a local Realtor, trust them, and let them do the work for you.
Good luck and may God bless
It "might" do a lot of things, but as a practical matter, it doesn't really have much of an effect. One of the underlying principles of real estate is that each property is unique; no matter how similar, they are not identical.
As far as choosing representation, I'd choose my own agent. If my agent happened to be the same as the neighbor, fine. If not, also fine.
All the best,
i recommend you interview and select the Brokerage and Broker you feel is going to position your home for the market, give it the best representation along with the skill and negotiation strategy you and your home deserve.
You may want to wait so as not to compete, or you may want to be their direct competition, but without interviewing and talking to potential Brokers you will not know what is in your best interest.
All the best to you.
And you're astute in recognizing that two homes for sale might have a negative effect on your home.
Competition is usally a good thing in buying products, but, for the most part, competition amongst products tends to drive prices down, not lift prices up. So, in my mind, I would suggest waiting--especially now. Depending on the location, type of home and price of your home, buyers may not be as plentiful as needed to support two home sales side-by-side and on the same block. My suggestion is that if your neighbor already has his home on the market, you might wait just a bit (preferably long enough to allow the home next door to sell) before listing your home.
In waiting, you'll be able to gauge the market, see how many buyers show interest in the home, and also, to determine the consumer's perceived "pricing" of the home.
Had this been another time of the year or diferent market indicators aplay, I might give you a different answer. But if you're talking about right now...I'd wait for just a bit before listing and selling the home.
Most importantly, use this time to find a great Realtor to help you! And, no, you do not need to use the same Realtor as your neighbor. Aside from familiarity with the community, your neighbor's realtor will not offer a "quantity" discount on the listing and may not be able to provide you with much information about your neighbors sale. It's best to find the one Realtor to work with you and with whom you feel comfortable in his/her skills.
Area Pro Realty-People's Choice
Tel (408) 426-1616
1.5% listing and Buyer Rebates over 1.5% Commission-Some restrictions
When you have two or more properties for sale on the same street, especially same cul de sac it does raise some concern to the buyer and it also gives them the false impression that their might be an opportunity to provide lower offers knowing there are more properties in the same place.
When we have fewer properties, the demand rises and usually the price rises as well.
The main reason to sell will need to come from you. Are you being forced to sell due to a hardship or because you are ready to move on. If you are not in a forced situation, it is usually best to wait.
Make sure and visit all the homes around you that are for sale. You should know their condition, what prices they are listed for and selling for. Understanding your homes condition compared to your neighbors will help you understand your own personal home value.
If you don't know a Realtor personally, ask your friends and neighbors. Interview the people they have suggested and see who provides you with current data, knowledge base of your neighborhood and city, and whom you are comfortable with.
Just because your neighbors are listing with people, doesn't mean it is because they are the best. They could be their uncle, daughter, or friend. Always interview. Always ask questions, and always watch how they treat your questions. Are they listening to you? Or are they just trying to push you into signing with them.
I congratulate you on asking your questions. They are VERY good questions and it shows that you are on the right track!
Great responses already.
There is a lot we don't know and can only assume. For my purpose, let us assume both home are IDENTICAL!
If both are listed with the same agent and the neighbors home sells first, how will you feel? think?
Will two adjacent homes with a For Sale sign out front cause Truila visitors to post questions like,"What wrong with the neighborhood? Why are so many homes for sale?"
How will a showing agent or the listing agent create distinguishing value?
Having resolved these issues you will find critical mass, meaning a volume of homes to see, is actually beneficial and will generate increased traffic. This will be highly beneficial should Broker Opens or Open Houses be considered.
With the volume of sales we experience here in Florida, this would present very little concern market wise, however, the perception and emotion of the home owner can be problematic if these issues are not covered beforehand.
Best of success in selling your Palo Alto home.
ReMax Realtec Group
Palm Harbor, FL
727. 420. 4041
Feel free to contact me with any questions.
At your service,
CDPE- Certified Distressed Property Expert
My recommendation is to go with the top broker and the top agent in the area. if you need help at no cost, I have the unbiased resources to help you.
Furthmore, your home must stand out better than your competition. That means de-cluttering, staging, painting and upgrades if required and within reason. If your home shows better and is reasonablly priced, it will sell first!
Frank Dolski MBA, ABR, e-PRO
CARTUS & SIRVA Certified Relocation Specialist
Previews Luxury Home Specialist
Coldwell Banker Hearthside Realtors
I do have clients who are looking in Palo Alto and I hope your house is the right one for them. I am also hoping that you will give me a chance to interview with you. I had a listing there two months ago.
Best of luck and let me know how I can further assist you.
Ivy C. Magsaysay
Century 21 M&M & Assoc.
However, you must sign an agent who can do more than just throw up a sign in your front lawn.
When you have a listing next to each other and two different agents this will seperate the savy agent from the average agent.
Im sorry but I dont tell my trade secrets for getting my listings sold for top Dollar !
However, I know many agents across the country who are tops in their field. Call me for a referal I know you wont be disapointed.
Call a few agents and listen to what they have to say.
You will be able to distinguish the top agent for the job!
Good Luck in your search.
Helene M Moore
Windermere Prestige Properties
Web Reference: http://www.MooreVegasHouses.com
Great question as that situation does come up more than you think.
If you are in Palo Alto, the home is going to sell irregardless if your neighbor is selling or not. The inventory is way down and we all have buyers looking to get into the area. The key is to price your home fairly based on the condition, size etc. for the neighborhood. Hopefully your neighbor isn't in a situation where they are selling because of divorce or a short sale as that could dramatically lower their price. Otherwise, you should be fine to list at the same time or start it off market to test the waters.
Just make sure you have a good agent who knows the area. You should interview a couple of agents to get their price suggestion and marketing plan to compare who you want to go with.
I specialize in Palo Alto, Menlo Park and Atherton. I would be more than happy to give you a "no obligation to use me" estimate of what I think your home could sell for. We are the biggest and best in Palo Alto so you are getting a successful track record selling in your area.
Thanks and I look forward to talking with you soon.
Alain Pinel Realtors
The unexpected benefit you might find is that they will feed of one another and ultimately create more showings for each. Regardless of the showings, the selling is going to come down to value and price!
RE/MAX Realty Affiliates
1320 Hwy 395
Gardnerville, NV 89410
Bets of luck,
Rob Hughes- Long and Foster RE inc