I'm a fan of setting up a field trip so we can tour some of the competition in person.

Jeff, I think that you're right about the devil in the details thing.  It's important to be able to walk into a listing appointment with real knowledge of the other market activity in the area.

Jeff - when a seller sees the comps, all they see are the "numbers."  However, when they actually see their competition, it helps us as agents, to show they what the other properties offer or don't offer in comparison to theirs.  I always try to show my sellers who they are competing with.

Jeff, this is an excellent point! Many sellers feel their house is much better and commands a higher price than the neighbor down the street who just sold their home. Although, it is always difficult for a homeowner to look at their home objectively.

I think sellers definitely need to know what the competition is, but I don't actually take them out to view them.  I think it's a little rude to the other sellers.  Maybe if it's vacant, but I definitely don't set up showings just to "view the competition" if the home is occupied.  Seems a little rude to me, but that's my two cents.  

great point.  I think it is ironic that sellers who are also buying always think their home is worth more than the market, when they are in the middle of it looking for a home too!

I agree, Jeff. I advise sellers to view similar, competitive homes but am rarely taken up on it. The ones that do look usually come back with a better appreciation of both how their home compares and what harm obstacles to showings does.  
To the Christiansen's point about it being rude, I don't totally disagree, but I think of the visit of the "competition's home" as my preview, which I'd likely be doing at some point anyway.  Any feedback from "my" people could be helpful, too.
Thanks for sharing.
Bruce

So True! My buyers are competing not only with re-sale homes, but a builder just on the way in to my seller's home. The builder just added a loss-leader at our listing price with a fabulous upgrade package. I've sent the sellers off to go tour the model and suggested its time to reduce.

Jeff even when shown the comps, the sellers really just focus on prices. Stepping foot inside of the competition's home gives the potential seller the ultimate advantage over some of their competition.

I agree.  I find it amazing that most sellers think that buyers only look at one house...theirs.

Hi Jeff...Great information here for Home Sellers, Congratulations on your feature. When I started in Real Estate we take our Sellers to View the Competition before listing their home.

Cheers

Jeff knowing what other comparable listings are out there can some times be a real eye openner to some Sellers.

Excellent advice Jeff!  Nothing really compares with that first hand look at the competition so the seller can see what the buyers will see - and hopefully then be realistic about how their home truly stacks up at the price point.