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I appreciate neighbors, they know everything!

By
Managing Real Estate Broker with Flexit Realty "Flexible Home Selling Solutions"

I have a secret weapon.  I don't pay a fee, I don't have to put gas in it or feed it.  All I have to do is be nice and start a friendly conversation.

My initial conversation can be about almost anything.....then I ask key questions that lead to my real motive.

I use neighbors to fill in blanks when I am a buyer representative.  It is common knowledge that every neighborhood has Miss or Mr busybody.  They know times and days of neighbors comings and goings.  They know repairs like roofs, air conditioning trucks, furnaces, cable even how often the dog is groomed if the neighbor uses a mobile service.  They can tell you if the plumber has fixed the drain field, sprinklers don't work and much more.

spying  The local neighborhood busybody is a wealth of information.  When you ask the right questions and "just listen" you can learn way more than you want to know at times.  Recently I found out that the wife of a sellers was having an affair according to the neighbor.  Not information that I needed to know or wanted unless a divorce was the reason for the sale.  That could be helpful if one did not want to other to get any proceeds...then my buyer would win big!

                                                                                                                                    busybody  Neighbors know everything, some useful and some information is a waste breath and time.  Some is informational only and some might not be repeatable.  I found that a seller said he had hired a contractor to do many of the repairs that were requested.  Only to find out from a neighbor that he had his brother-in-law write up a receipt while he did patch work type repairs instead of the having a professional do the work.  He did a great cover job....but never made the repairs he claimed to have made.  When we had the suspect areas reinspected and I mentioned that paint may only be a cover for the dry rot....the inspector found that to be true.  We wrote an addendum reducing the price and the buyer would have his own contractor do the repairs!  The seller was furious, but agreed when I mentioned to his agent that fraud was a felony...so the seller could decide which way he would like to take the issue.

So have you used the secret weapon to help your buyer in negotiations?  Neighbors can supply you with all types of information, it must be evaluated and used with common sense and good judgement.

fence peeker    Have neighbors filled in some blanks on properties for you?

Rob Lang
At Home Kansas - Shawnee, KS
Local Expert in NE Central Kansas Real Estate Home

Absolutely!! Neighbors are great sources of information.

Rob

Sep 14, 2007 01:00 PM
Robert Monk
100% Realty, Inc. - Santa Rosa Beach, FL
Florida Real Estate
Neighbors are often your number one leads on the selling side as well as the listing side.
Sep 14, 2007 01:05 PM
Gary White~Grand Rapids Home Selling Pro Call: 616-821-9375
Flexit Realty "Flexible Home Selling Solutions" - Grand Rapids, MI
Real Estate Services You can Trust!

Hi Rob, I just used several neighbors to fill in some blanks on a vacant home.  They were more than happy to chat.  They gave us a wealth of information that allowed us to bid 60K lower than the list price and it appears the sellers trust is going to take the offer!  Without that extra bit of information we would have offered much higher.  Thanks for the comment Rob.

Sep 14, 2007 01:10 PM
Gary White~Grand Rapids Home Selling Pro Call: 616-821-9375
Flexit Realty "Flexible Home Selling Solutions" - Grand Rapids, MI
Real Estate Services You can Trust!
Hi Robert, I find neighbors to be a wealth of information for both sides of the transaction just as you have found.  Thanks for the comment.
Sep 14, 2007 01:12 PM
Teri Eckholm
Boardman Realty - White Bear Lake, MN
REALTOR Serving Mpls/St Paul North & East Metro

Gary--As a neighbor of a vacant home I am often asked about the property for sale next door. I always make certain to mention the oak wilt that will not be in the disclosure as I want the new property owner to properly care for the diseased trees so it will not spread to my oaks.

As an agent, I encourage my clients to talk with neighbors and I do as well. It is amazing what you can find out.

 

Sep 14, 2007 01:41 PM
Gary White~Grand Rapids Home Selling Pro Call: 616-821-9375
Flexit Realty "Flexible Home Selling Solutions" - Grand Rapids, MI
Real Estate Services You can Trust!

Hi Teri, it is amazing what you find out.  I just sold my home and am in the middle of purchasing another the neighbors have been very helpful.  They knew of a unauthorized tap into the city sewer made by the home owner. 

Thanks for the comment....hope the trees are sprayed this spring.  Thanks for the comments.

Sep 14, 2007 02:02 PM
Kris Wales
Keller Williams Realty - Lakeside Market Center - Macomb, MI
Real Estate Blog & Homes for Sale search site, Macomb County MI
Gary, I had forgotten how many times neighbors have been helpful with their every ready store of information until you wrote this.  Excellent article!
Sep 14, 2007 08:59 PM
Brian Block
RE/MAX Allegiance, Managing Broker/Branch Vice President - McLean, VA
Northern Virginia & D.C. Real Estate
Gary, neighbors know everything -- sometimes too much!  They can help or hurt a sale as I know you are aware from your previous posts.  Try living in a condo building where 30-40% of the residents are retired, many have lived there for 15+ years, and they meet at the buildings happy hour every week and congregate at the pool.  They know everything about everyone -- word spreads fast.  Welcome to my world.  When you have a successful sale, they know about it too - that's a good thing!
Sep 15, 2007 07:08 AM
Gary White~Grand Rapids Home Selling Pro Call: 616-821-9375
Flexit Realty "Flexible Home Selling Solutions" - Grand Rapids, MI
Real Estate Services You can Trust!
Hi Kris, neighbors can be a very good resource when buying and selling a property.  I am in the process of purchasing a golf course property.  The neighbor share some very valuable information that lead me to bid  75K below the already discounted asking price.  I listed some information that only a local would know...still waiting to see if they take the offer.  If they do take it the home will be a steal but we shall see. (steal in the legal sense!)  Thanks for the comments.
Sep 15, 2007 01:35 PM
Gary White~Grand Rapids Home Selling Pro Call: 616-821-9375
Flexit Realty "Flexible Home Selling Solutions" - Grand Rapids, MI
Real Estate Services You can Trust!

Hi Brian, glad to hear the building is coming back together.  I do know exactly what you mean. 

I have found a little strategy I employ when I list a home close to the neighborhood busybody.  I make sure I meet them and during our chat...which I am asked a million questions, I casually mention that thye should be careful to only disclose first hand information to people.  I heard of a law suit a while back where a neighbor shared some information and the sale fell through and the seller sued the neighbor!  That always brings questions like, how can that happen?  It is simple if someone tells something that they heard but do not actually know for fact it is gossip, they can be liable for slander.  If it causes the loss of a sale of a home the damages could be huge.  So only tell things that you were actually told by the seller and you will be fine.   They clam up and will hardly talk to anyone until after the sale!  I have laughed more times over this little ploy.  The irony is that it is the truth...they could be held liable according the state legal council.  Thanks for the comment Brian.  You are so correct the locals do know everything and everyone's business.  Use the grapevine to help your sales!

Sep 15, 2007 01:46 PM