Real Estate “For Sale” signs are the most recognizable way of determining if a home is listed for sale. These signs are most notably found in the front yard of the home that is listed for sale. This simple tactic alone helps draw in the attention of potential buyers.
With all of today’s advancements and technology, it begs the question if these real estate for sale signs are really worth it. Especially after the National Association of Realtors (NAR) reported that over 90% of home buyers searched for homes for sale online.
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Why are real estate for sale signs useful?
The NAR states that only 7% of buyers found their home from a real estate for sale sign. On the surface this number looks shockingly low. However, when considering the cost of investment for a for sale sign you will start to see that there is an upside to these signs. With a low upfront cost you can increase the homes visibility to more potential buyers.
For sale signs attract potential buyers that could be simply passing by in their desired or unconsidered neighborhoods. Upon seeing the sign they can use that when considering their new home.
These signs also notify the neighbors that a home is listed for sale. This brings up the other important statistic reported by the NAR. They state that 7% of buyers found the home they purchased from a friend, relative or neighbor. This means that the potential reach could double.
Additionally, we must still consider those buyers who don’t use the technological advances provided by Google, Zillow, Redfin and others. Real estate for sale signs can provide potential buyers with important information immediately. Most notably the listing agents contact information and or brochures about the property.
What are the downsides of a for sale sign?
Real estate “For Sale” signs are not without its negatives. There is a general concern that these signs can place the homeowner in unwanted attention from burglars or local thieves. This could place the homeowner under a level of personal safety risk and as well as particular privacy concerns.
These signs will subject the homeowner to strangers approaching their home at random times with questions and even attempts to enter the home.
Due to these risks, many real estate agents will review these with the homeowner and remind them not to let anybody in their home unless they are accompanied by a licensed real estate professional. Though at the end of the day the sellers still have the right to decide to whom they allow entry.
Finally, there are those who believe that using for sale signs can ruin the exclusivity of the home and prevent higher offers from buyers. This belief is usually held by higher end homeowners and sellers choosing to be a pocket listing.
Are real estate for sale signs really worth the trouble?
YES! Of course they are. The cost benefit analysis alone should be convincing enough to an agent or seller. With minimal costs associated with real estate for sale signs you are able to generate increased buyer traffic and word of mouth about the property.
While it may seem outdated to use a real estate sign these days it is important to remember that this tactic still works and when approached properly it will negate any negative effects.
Let us know in the comments section about your thoughts on real estate for sale signs. What are your best practices for using these signs? Do you think these signs will ever go away?