Should a Listing Have a Pending Sale Sign?
Should a listing have a pending sale sign in the yard? It depends. We have a Sacramento listing that recently had five offers. We are pending sale and have two back up offers. One of these two buyers signed a back up addendum and a multiple counter offer form. This buyer is ready to go into a sales contract if the first offer fails for any reason. In this case, the seller wants a pending sale sign in the front yard as soon as possible. The home sold in 5 days, so sellers are thrilled and want the neighbors to know how fast it sold.
So in contrast, if we did not have multiple offers, the answer to, should a listing have a pending sale sign in the front yard, is no. We get calls daily from people driving by our listings. If a pending sale sign were in the yard, they would never call us as inquiring minds want to know. In essence, a pending sale sign stops the phone from ringing.
A friend of mine, Realtor Kim Pacini-Hauch, had a large property for sale on the river. A gentleman had flown into town for business. He was driving out along the river on the Garden Highway one sunny afternoon. He saw her for sale sign and called her. She drove out immediately to show it to him as he was flying out at 8:00 PM. She wrote a contract on the house and sold it on the spot. It was $3,725,000. He told her he was not looking online had just been driving an area he thought was beautiful. Without a for sale sign, or if the property had a pending sale sign, he would not have called either way.
The moral of the story is if pending sale sign were posted in the yard, he would not have called Kim. A back up offer is always warranted. If the property had been a pending sale, she would have shown it. As we say in Sacramento Real Estate, ” it is never over until it is over,” so sellers should always take a back up offer.
If you would like to have a pending sale sign placed in your yard, call us today Weintraub & Wallace at RE/MAX Gold, 916-233-6759.
— JaCi Wallace