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What to do if your neighbor is selling a house, too

PASADENA, CA - SEPTEMBER 24: A "for sale"

PASADENA, CA - SEPTEMBER 24: A "for sale" sign stands outside an existing home on September 24, 2009 in Pasadena, California. Although home resale numbers have been gaining over the past four months, an unexpected decline occurred last month with sales dropping 2.7 percent to a seasonally adjusted annual rate of 5.1 million in August. July sales were 5.24 million. Still, the numbers were up 3.4 percent from a year earlier. Almost one in three homes last month were purchased by first-time home buyers who will get an $8,000 tax credit if the transaction is completed by November 30 when the credit expires. (Photo by David McNew/Getty Images) Credit: GETTY IMAGES/David McNew

Real estate agents offer this advice for homeowners who find themselves competing with their neighbors for a house sale:

Check out your neighbor's house. And compare it to yours so you can price your house competitively.

Coordinate open houses with your neighbor. Chances are, you will both add to each other's exposure.

Join forces with your neighbor. "I would suggest listing with the same office because they will probably try to show both properties at the same time," says Chris Montalbano of Century 21 Prevete Real Estate in Levittown.

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