As a Realtor, I love having my sign up on a property! It tells much more than just the fact that this property is for sale. It tells all those who see it that I am in the business. They cause my phone to ring with buyers interested in the property.
HOWEVER...
Signs tell a much bigger story than you might think. Here are some thoughts to consider:
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You can usually rely on the fact that when the sign goes up, that's the first day it is available to purchase.
- NOT! In a market such as ours in Sacramento where inventory is extremely low, the listing agent may already have an accepted offer, usually representing both the buyer and the seller.
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You can usually rely on the tradition of putting a "pending sale" rider on the sign as notice that the property is no longer available for purchase.
- NOT! Sometimes the listing agent wants to continue to get calls in hopes of getting new buyers to work with. In this case, they will not put up the traditional "pending sale" rider.
- SOMETIMES the seller and/or the listing agent wants a back-up offer, in which case, the "pending sale" rider will not go up until all of the contingencies have been removed from the accepted offer.
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If you drive around a neighborhood, and see a lot of signs for one agent, that should be a good indication that the agent knows the neighborhood and would be a good representative for you.
- NOT! Sometimes this is the case, but the big question is, how long have those signs been up? It shouldn't be very long, since if the agent knows the neighborhood, they should be able to price the property well and have it sell quickly. If the sign is up longer than about 2 months, there is an issue, typically with price.
- CHECK the records. When you interview a Realtor, ask how quickly their listings sell. This is a better indication of knowledge than the signs themselves.
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"COMING SOON" signs are a great idea!
- I know I will get some kick-back on this, but I don't think "Coming Soon" signs do a property any favors. In my humble opinion, they take away the impact of a new listing, telling buyers "My property is going to be available, but you can't see it." By the time the property comes on the market, that sign is old news and few notice that the "Coming Soon" rider has come down.
See? There is much more to the humble "For Sale" sign in a yard. You would be encouraged to learn the whole story when you can!
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