False Advertising or Good Marketing?

By
Real Estate Agent with Tanya & Co./Keller Williams

There is an agent that recently had a home listed For Sale and For Rent with a For Sale sign in the yard. I have clients that rented the home and the agent put an "Under Contract" sign on the existing "For Sale" sign. When I asked the agent what happened thinking that they had accepted an offer for sale because our lease wasn't signed yet. The agent replied that "A lease is a form of a contract". I thought it was a little misleading because the "Under Contract" rider was on a For Sale sign not a For Rent sign. The sign is down now and I am trying not to focus on it but it still makes me mad. I am curious what other thoughts are?

Comments (4)

Anthon Pang
iPro Realty Ltd., Brokerage - Mississauga, ON
Broker

IMHO the listing agent's actions were reasonable.  The only thing I would have done differently is attach a "For Rent" rider during the listing period.  An alternative to "Under Contract" is to use a "Rented" sleeve to cover the "For Sale" portion of the sign.

Certainly, a "Sold" sign would have been incorrect.

Your local board/association may also have rules re: signage.

 

Mar 24, 2008 04:41 AM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA
The agent was right, "A lease is a form of a contract." However, putting an "Under Contract" rider on a "For Sale" sign can only mean one thing, the Contract is an "Offer to Purchase Agreement." Very misleading and misrepresenting the type of agreement.
Mar 24, 2008 04:46 AM
Todd Clark
eXp Realty LLC - Tigard, OR
Principle Broker Oregon

I am an agent that deals in lease options and owner contracts all the time and I consider as well as the MLS considers the lease options a sold home! Thanks for a great topic of discussion that I never really thought about.

Hope you don't mind my opinion and welcome to the rain,

 

Mar 24, 2008 04:56 AM
Anonymous
Tanya Johnson
Thanks you guys!
Mar 24, 2008 05:04 AM
#4