Using A Real Estate Agent To Off-Set Lost Home Value Because Of A Neighbor
No home exists in an island and its value is often seriously affected by its neighbors. In some instances, a great neighbor can improve the quality. However, bad neighbors can cause it to plummet. That's why it is important to understand how bad neighbors affect a home value and why a real estate agent is essential for off-setting that damage.
Neighbors Can Ruin The Price Of A Home
Bad neighbors are a major problem that can ruin the value of a home in no time. For example, loud neighbors who spend a lot of time partying or fighting can drive down the value of a neighborhood by making it less desirable. They can also drive down the value by failing to take care of their lawn or home and making a neighborhood look more decrepit.
Even worse, it is possible for bad neighbors to actually actively antagonize people who are looking at the home. While that kind of behavior is probably quite rare most of the time, angry or aggressive neighbors could scare away prospective buyers or cause the price to tumble as it is repeatedly put on the market at lower and lower prices. However, even if neighbors aren't aggressively awful or take care of their lawn, someone simply selling their house for a lower price than average can cause the sale prices of the whole neighborhood to go down.
How Agents Can Help
To help offset these problems, a good real estate agent is a necessity. A realtor can assess the value of a home based on its neighbors and take steps to help offset any loss profit potential. For example, they may be able to talk to the neighbors about their yard and get them to take better care of it. Or they may be able to find a type of home amenity that can be installed to improve its value.
For example, installing a privacy fence can help increase a home's value by making it easier to ignore the neighbors. Other high-quality benefits, such as a pool, can also decrease the negative effect caused by under-pricing a home. While they may cost a little bit of money to install, they are necessary if a home's neighbors are no good.
So don't hesitate to contact a high-quality real estate agent when trying to sell a home. While they will get a certain percentage of your home's value (such as 7-10 percent of the sale price), their services will increase the value by a lot more.
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