The best market research may be happening right next door

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Published Date 10/9/2025

When the legendary TV host Mr. Rogers asked, “Won’t you be my neighbor?,” he may have been referring to the idea that the best way to be a good neighbor is to walk right through their front door. Attending a neighbor’s open house isn't nosy—it's a smart strategy.

Realtor.com’s Anna Baluch explains why savvy homeowners are checking out their neighbors' listings and wants you to know that it has nothing to do with idle curiosity. Real estate agents report that a good third of open house visitors are actually people from the neighborhood gathering intelligence that could be worth thousands when it's their turn to sell.

Think of an open house as a three-dimensional market report, says Hawaii-based agent Evan Harlow. “You'll discover what's standard in your area, which layout choices actually work, and how much buyers are willing to pay for specific features,” he explains. “Online listings simply can't compete with the insights you gain from walking through a comparable home.”

Even if your neighbor's house shares your zip code and school district, agents agree that their updates and features might differ significantly from yours. Did you know that you might also learn how a nearly identical property to yours had much higher taxes due to recent renovations, giving you a heads-up about potential costs if you remodeled?

The benefits, however, go beyond market intelligence. If your neighbor's roof is shedding shingles or they're dealing with sky-high energy bills, what might be going on with your similarly aged home? You can use these discoveries as a wake-up call by scheduling that roof inspection or checking your attic insulation before problems escalate.

The real gold mine in visiting a nearby open house reveals itself just by being there, watching how potential buyers react. An upgrade you assumed would be trendy and popular might have potential buyers wrinkling their noses at it during the open house — and — boom! You've just saved yourself from making an expensive remodeling mistake. Above all, pay attention to the energy in the room—which homes generate excitement and which ones leave buyers cold.

Not all renovations pay off in equal chunks. According to Baluch, bathroom updates recoup nearly 80% of their investment, while high-end media rooms return almost nothing. Kitchens, bathrooms, and energy-efficient upgrades consistently deliver the best returns, while super-specialized custom features rarely add value except in the eyes of the owners.

And speak up! Don’t be shy about asking questions. Listing agents welcome chats about recent updates and news of the surrounding neighborhood, like what is happening nearby. If you're planning to sell soon, you might want to bring your own agent along to do market research together. Your neighbor's open house might just be the best homework you'll ever do.

Realtor, TBWS

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All information furnished has been forwarded to you and is provided by thetbwsgroup only for informational purposes. Forecasting shall be considered as events which may be expected but not guaranteed. Neither the forwarding party and/or company nor thetbwsgroup assume any responsibility to any person who relies on information or forecasting contained in this report and disclaims all liability in respect to decisions or actions, or lack thereof based on any or all of the contents of this report.

Jeff Beck - NMLS ID: 19488. To verify licensing, visit NMLS Consumer Access (www.nmlsconsumeraccess.org). 

Jeff Beck

Loan Expert

NMLS: 19488

American Home Lending USA

240 S Buchanan St, Edwardsville IL 62025

Company NMLS: 2239

Office: 618-310-0091

Cell: 618-806-2281

Email: jbeck@ahlusa1.com

Web: https://www.americanhomelendingusa.com/