Wednesday, May 13, 2009

Signs and Selling

We have a few sellers who don't want signs on their properties. Sometimes, they also want us not to mail to the neighbors announcing the listing. Usually, they say that this is because they don't want their neighbors to know that they are selling! Since signs are the number one tool that agents have for selling property, and since many properties are sold to someone who already lives nearby, this is an odd reaction. Would you look for a job, but refuse to give out your resume? Would you try to get a part in a play, but not allow your agent to send information about you? Exposure is the key to successful selling in most cases. Especially since, when you think about it, once you sell these people won't be your neighbors anymore anyway!

The other misconception I find less surprising is that sellers think that they can sell their homes without benefit of a real estate agent and get more money. While it can be true that a seller could get lucky and know of a prospective buyer, he or she is not going to get more money if they do what is often the case. They advertise the property as "x dollars without an agent". In that case, don't you think that a buyer will expect that the money otherwise dedicated to the commission will go to him? Obviously, real estate professionals aren't helped by people selling their own properties, so I'm doubtless biased, but I find the approach unlikely to get more money for the seller. Plus, empirical evidence collected around the country suggests that most independent sellers get too little for their properties.

Now that I've vented, I should end by saying how busy the real estate market is this week. Let's hope it continues unabated!