Each morning, for the past year, on the way to work in Nevada City, CA I pass this sign:
Apparently, someone needs to hop on this deal, because it "WON'T LAST" too much longer. Technically, they are correct, it won't last forever - eventually the sign will rot and fall over. If the sign produces a call, I think the potential buyer will soon realize this isn't a fresh offering.
Does this sign rider help sell the property? I guess it doesn't hurt, until that buyer realizes the real market time.
On a separate rural street corner in Placer County, a series of 8 For Sale signs are lined up next to each other, signaling to highway passer-byes that there are some hot properties right down this street. To me, it kind of says, "dead end market ahead". In the best interest of all 8 sellers, and the other few who's agent has not yet got their sign up, it may be better to put one generic sign up - "Homes for Sale".
We often go to our family's cabin in a secluded area of the summit in the Sierra off Interstate 80. This remote neighborhood of mostly second homes and vacation rentals has been hit hard by the market; not so much in the foreclosure realm, as most owners are not over leveraged, but by the economic desire to unload a discretionary property during tough times. Again, the prices are not to the level of the mega-decline we've seen in the over-built valley towns, but there are quite a few for sale signs. In fact, one company, that has the fortitude to brave the 7000 ft elevation elements year around, has a dominant majority of the listings. They have a sign on about every fourth house. This could not be good for the perceived value of real estate in that community. We all know, a buyer's value is perceived and the biggest factor of that perception is supply and demand. I can not imagine that all those signs are good for the collective group of sellers.
I know signs draw calls that help agents sell other listings. And I appreciate the need for agent's to brand their market dominance. But, to an extent the over-signing and misleading riders are hurting the clients we represent.
What do you think? As practitioners do you ever get concerned of the message we are creating with our marketing? Could alliances with other listing agents in a community present a less-damaging picture while still allowing the agents to expose their property and brand?
As we pull out of this past housing slump, I think buyer perception will be key, we need to work as industry to put our best message forward.