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Real Estate Fight Club

12
Oct 2020

Episode 55: When Should You Put the Sold Sign in the Yard?

October 12, 2020

In Episode 55 of the Toe-2-Toe Podcast, hosts Jenn Murtland and Monica Weakley are feeling feisty about the right time to put the sold, or pending, sign in the yard of your listing. Jenn and Monica actually agree on this one. The truth is, there is no one, right time to put one of these signs up, so see what works best for you!

Episode Highlights: 

  • When she first started, Jenn put way too much thought and energy into her signs.
  • Depending on when the inspection takes place and where the listing is, Jenn varies on when she puts up the sign.
  • Because nobody but the buyer knows the house has been sold, you can put up the sold sign after the fact.
  • Monica believes in waiting until the house has officially been sold before putting the sign up in case something falls through.
  • Waiting and allowing more calls to come in on the property even after it has been sold has its benefits.
  • You don’t want to put too much thought into your signage because you are only human and have only so much brain power.
  • Jenn and Monica actually agree that there is more than one way to go about this.
  • While some agents do have a process, most do not have a set-in-stone deal.
  • Tiebreaker, Jason Stricevich, is from HomeSmart RE Associates in the Seattle area.
  • Once the inspection contingency is signed off on, Jason puts a sold sign on the listing’s post.
  • Sometimes, agents don’t put up a sold sign because they don’t want to sell a house in the same area.
  • Jason skips the pending sign and goes straight for the sold one, a common practice in Seattle.
  • The public doesn’t know if you are the buyer’s agent or the listing agent, so it’s just an opportunity to market yourself.
  • Unless you can bring in new leads, you’ll never get any sales, so consider yourself a lead generator.

3 Key Points:

  1. There are a plethora of factors that go into your sign timing, including but not limited to, location, time of inspection, and who is aware of the sold status.
  2. There is no one right time to put up the sign, but more of an if-then-when situation.
  3. It is a common practice in Seattle to put a sold sign on the property, even if it is pending.

Resources Mentioned: