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Would You Do That?

A while back Laurie Mindnich wrote a Blog titled Naughty, Naughty... It was basically about Realtors practicing "tactics" that may be "by the book" but are a bit shady.

A conversation with my husband brought to mind a "related " practice that I know is Legal....but would you do it?

car

We were headed home from checking on an empty listing I have and went by a property that a Buyer of mine had just purchased!

My husband asked me why I hadn't put a SOLD sign, with my Keeler Family logo, on the property? After all...if we have the Buyers permission it's perfectly above board to do so....I don't do it! I know why I don't do it.... It makes me feel disingenuious.

Actually few in this area do it. But when they have... I know of two instances when it caused VERY hard feelings between agents. Sort of like "Stealing The Glory"

Is this common practice where you live? Is it done often? Does it cause bad relationships with fellow Realtors?

sign

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Joan Mirantz - Joni is a Realtor® with Keeler Family Realtors, a locally owned, Customer Service oriented Firm.
Joan Publishes a monthly Newsletter "Food For Thought" under the pen name Realtor Sherpa.
(Joan also answers to Miz Maven and Miss Joni.)

Joan works in Buyer and Seller Representation with concentrations in the Merrimack Valley Area and towns surrounding Concord NH - the Capital City.
"I love what I do, and it shows in how I do it"

www.yourrealtor.biz

Posted by Joan Mirantz- Concord New Hampshire Realtor on 07/08/2007 10:44 PM

Comments (25)

laurie mindnich, realtors, sold, keeler family, buyers

Originally posted at: Concord NH~Joni~Merrimack County : Would You Do That?

25 Comments on Would You Do That?

JUL

2007

Typically it is the listing agent who advertises they sold the house. I swear by it and normally pick up a listing in the same neigborhood

Jennifer...that is typically how it is done here too. But there are a few who take advantage of the fact that with permission, after the house is sold,the selling agent can put up their own sign...saying sold!

In my area either agent can do the sold sign. Both agents also send out cards indicating they just prticipated in the sale of the property.

It doesn't happen much here and I would never do it. Its tacky and if you did a good job, the referrals from your clients will get you more than any sign will ever do.

Great post.

It is almost a standard here for the listing agent to put up a sold or under contract sign prior to closing and remove the entire yard sign at closing.

Not so common is the buyer's agent putting up that sign after the home is sold to their client. Me and another Realtor did put up a sold sign once with the Buyer's permission AFTER closing and it DID cause a bad reaction from the listing agent, ,even though we were told it was OK by our board.

We all have to get along. Common courtesy is important, so I won't put another SOLD sign up on a property that my buyer purchased after closing anytime in the near future unless I am both the listing and selling agent and my buyer is OK with it all.

JUL

2007

Jennifer..we are allowed to do both. How it is received is the sticky wicket! I have done postcards (with the Buyers permission) to introduce the buyer. It isn't so "in your face"

I agree Brad...I think that'd why it doesn't happen much here either!

I hear ya Wendy ...who wants to keep looking over their shoulder?

Phylena...me too! Thanks for commenting!

Here the trend is for signs and poles to completely come down immediately when a home is sold. When the home is in a "pending" state the listing agent may decide to put up a Pending rider under the sign. Don't think I have ever seen a buyer's agent do it. Not sure what the advantage would be anyway, since there is no name on the rider- only the words Pending.

Not a practice here at all...but I know of agents who send out postcards to the neighborhood.

Bob & Carolin...The Buyers agent can put their own sign, with a sold on it(after the closing)

So far it would appear that not too many do it!

Joan, I was very surprised to read that. They do it here all the time, I see the signs every day with the listing agent having put SOLD or UNDER CONTRACT. I guess it is different all over. They come down at closing.

Joan, Carole took the words right out of my computer. It's done here all of the time, and in Colorado, the signs always had "sold" on them, without acknowledgement of who actually brought the buyer. While it's certainly polite to acknowledge the person that brought the buyer, the listing agent is the one that got the ball rolling with the property by achieving the listing- part of the "glory" for the door knocking is presenting the "sold" sign when it goes!

Carole...that is common here too. But since it is allowed for the Buyers agent to put up her/his own sign,saying SOLD(after closing) I was curious if many did it?

Hi Lauri...It's nice to know not too many do it. It happend twice in our office to the same Agent. Needless to say she, and the rest of us, were ASTOUNDED....and didn't think too much of that offending Agent. It's such predatory behavior!

Hi Sally,

I don't think the postcard thing is too bad. The other is a slap in the face....glad to hear that The Island is above it!

JUL

2007

Oh - Here's my .02 for what it is worth -- if it takes 2 to get the job done -- then I don't see a problem with a sold sign. The seller agent's job is to market the property -- the buyer agent has a lot of work to do as well to bring a buyer, develop a good negotiating strategy -- and make sure that things proceed forward to closing. After the sale is complete, I see no issues with a sign -- since we don't SELL houses our signs say "bought" through XYZ company -- I have never had 1 complaint --

In our town the listing agent is the one that puts the "sold" sign onto the for sale sign. We live in a small town and we all know each other, so I don't think anyone thinks about the "sold" sign and who puts it on. The signs usually come down within days of the closing if not the same day.

Joan...I wondered how you guys handled that! I personally think there is a totally different perception of the term Bought Through....that spells it out and gives credit where credit is due. Even though we List I think banners saying that might get rid of some hard feelings.

The other way is (in my opinion) deceptive and misleading!

Carolyn Your point is well taken. Truth be told...I think most people just want to know that it is sold and don't especially care about by who!

JUL

2007

After the closing you can put up your sign if your buyer the new home owner allows it. I would do it...a "bought through" sign is perfectly okay.

Monika ...I like the "Bought Through" wording too. It's more honest!

JUL

2007

Joan - this is an accepted practice in our area, but it is used very little. I have noticed that the primary users of this tactic are the ones with big egos that need reassurance. Personally, I would rather have the client do my advertising. Word of mouth is much more powerful than a sign in a front yard somewhere.

JUL

2007

Carol...I think you hit the nail on the head...ego!!

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