Defining or Refining the Product

Product 2: The Neighborhood

When people buy a house, they buy a neighborhood, too. In a down economy, buyers have choice in where they buy.

Although you may not own the home next door, your prospective buyers will be looking at it as part of the package they are considering buying. Buyers also look at the block and the condition of the homes on the surrounding streets. They’ll be asking trusted advisors for their opinions on the safety and quality of life in the neighborhood. They might do a web search on the neighborhood to see what turns up.

If you do not have a comprehensive strategy for neighborhood improvement, consider developing one or partnering with someone who is working to create or implement one. Meanwhile, consider how you might influence the curb appeal of the rest of the block on which your home is located. Neighborhood Housing Services of South Florida (NHS) working in Miami, FL drafted a Block Outreach and Marketing Initiative to work with neighbors around the homes NHS had acquired for rehab and sale, to beautify the street and help market the home for sale. Click here to see a description of their program.

This is part of the marketing and sales planning process where you may find valuable insight and ideas from your community building and organizing staff and neighborhood leaders.