There are many things you can learn from your competitors in real estate – the main thing is comparables. If old mate down the road has sold the exact same product (house) for $1m. The house is on the same size block of land, is the same age, angled in the same direction, and is finished with the same fixtures and fittings – then it’s likely that you should be selling the house you are in for $1m PLUS. Please keep in mind the + here. If old mate down the road wasn’t a very good salesperson, you should be able to tell pretty quickly based on other sales locally. IE if you can find a worse comparable, and it sold for more, you can confidently say to your seller that old mate was terrible, you deserve more for your sale.
Comparables is the main thing you can learn from your competition
Hot Tip – Don’t use a bad real estate agent
