When To Hang a Sold Sign

By
Real Estate Agent with BCR Realtors

 

 Should we put up a sold sign yet?  This has long been a debate among real estate agents.

In the beginning typically there was only a company real estate sign on homes.  Then along came agent name riders.  Then came name riders with phone numbers.  Then we added things like PRICE REDUCED...or  POOL... or  Under Contract.......Then later yet we added  Home Warranty.

Then we added website  riders. Then we added agent photos, and then assistants and their photos. Heck let's just bring in the whole family on the photo!  I personally know an agent that does that very thing.  Oh and don't leave out the mortgage  lenders....They wanted in on the picture too. They began asking if they could put out their sign by the agent and the home warranty sign.   Oh yes and the Builder's sign, the plumber, the stager..............

Well before long we had layer upon layer of sign riders on the lead agent sign along with all the affiliate signs.   And not too long after the lead agent signs began to lean like the leaning tower of Pisa.  Then the signs fell over more often and sellers would call and complain....So, I have gone back to a sign with only my web link rider.  Seems to work pretty well.  And I  use a detached brochure stand that doesn't hang from the yard sign.

 

Now, when the home is about to close I will go over to the property and put a SOLD sign out. Ordinarily I prefer to have the phone calls come in until the home is closed. After all what if it fell through. Some agents prefer to put a sold sign out the minute they get a contract agreed upon. Boy! That is a little presumptuous as there is so much to get through to close a home.  It looks really good to have that sold sign out, but what about those folks that didn't call because of it?

 

I know everyone is different on this.  When do you put out a SOLD sign?

 

Have a Prosperous week!

Trey

http://www.treythurmond.com/

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Rainmaker
462,712
Trey Thurmond
College Station , Texas Homes
BCR Realtors

Roland

Good idea.  Some associations of Realtors have rules that govern these things.

February 09, 2008 07:42 AM
Ambassador
1,484,985
Gary Woltal
Assoc. Broker Realtor SFR Dallas Ft. Worth
Keller Williams Realty

Trey, I like the sale pending approach too but then you may steer possible alternate buyers away if the deal falls through. Definitely sold after closing if the new buyers will let you keep the sign there a week.

I do agree with your insanity of all the riders and the family on the Realtors sign. How did it all get so bizarre?

February 09, 2008 04:00 PM
Anonymous #15
Anonymous
Anonymous

Hi Trey, You probably already know how I do it since you are my broker but since I love to get listings and tend to specialize in several neighborhoods, I put the sold sign up as soon as we have negotiated the amendment for repairs after the inspections as long as I know the buyers can get the loan.  I have found, the faster you put up the sold signs, the more likely you are to get another listing in the same area, but that's just me.  I think it just depends on personal preference.  I always learned in the prehistoric days of real estate (I've been around LONG time), that a sold sign is the best kind of sign to have up.

February 09, 2008 05:41 PM
Rainmaker
54,374
Sandra Workman
BBA, Broker, GRI, ABR, CNHS, RCC, ePRO,
Rosenboom Realty
Usually, unless the homeowner requests it, I don't even put a pending on the sign.  If "sale pending" appears on the sign the calls stop.  When I'm the buyers agent, I put a sold sign out with my sign on the property as soon as closing is done.  In our area, we can put a sold sign on property for 3 days after closing with buyers permission.
February 09, 2008 09:50 PM
Rainmaker
462,712
Trey Thurmond
College Station , Texas Homes
BCR Realtors

Bob,

I don't object...it depends on what your local association would allow. See Sandra's comment above.

February 21, 2008 10:11 PM
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Trey Thurmond

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