The neighborhood I live in is quiet and well-groomed. Neighbors wave as they fetch the morning paper, walk their dogs or mow their lawns and the mostly traditional ranch-style architecture gives it popular appeal. With its mix of Civics, Baby Boomers and Gen Y’ers, we’ve got the generational spectrum well-covered and for the most part, nearly everyone minds their own business. It’s a place we consider near ideal.
On my way home from work this evening, I couldn’t help but notice the newly installed For Sale sign in the front yard of a home on the street leading into my cul-de-sac. I slowed my car as I passed by, as if seeing it for the first time. Once I pulled into my driveway, I thought to myself, “I wonder if they’re in financial distress, getting divorced, scaling down or better yet, moving up? I don’t know these neighbors, but my inquiring mind couldn’t help but want to know why they were selling.
Given that I’ve worked in the real estate industry in one capacity or another for over 30 years, I am admittedly “old school” in thinking that when a house goes on the market, a For Sale sign should be installed in its front yard soon thereafter. This step is of course for the benefit of the seller in order to expose it to any and all potential buyers, right? These days though, I can’ t help but wonder if a For Sale sign truly enhances the chances of the property selling or if it’s really just a means by which to spark the curiosity factor for nosey neighbors.
A few weeks back, we took our dog out for an evening walk. My husband and I are admittedly friendly, yet unsocial in the sense that we are not a part of the “driveway mafia” that find it pleasurable to make other people’s business their own. Five houses into our dog walk, we came upon our very own Gladys Kravitz – sans the updo bun, who in less than 20 minutes time gave us the 411 on what hadn’t made recent news headlines: Who had died? A man (terminal illness) and a dog (attacked by killer bees being raised illegally at the home behind its owners). Who had spied? A stalker neighbor (incensed by another’s barking dog). Whose lives continue to collide? Two bickering neighbors that spend hours a day tending to their putting green perfect lawns in an attempt to earn self-proclaimed “bragging rights” for the week.
So today, it occurred to me that that new For Sale sign may very well just be a catalyst for neighborhood speculation rather than serve the purpose it ought to and that is to generate potential buyer interest at a time when attractively priced, non-distressed property inventory in the right neighborhood is so hard to come by.
A colleague of mine recently listed a property, which was posted on the Southern California Multiple Listing service and exposed to a local, national and global audience. During its first two weeks on the market, (prior to the installation of the For Sale sign), he says there were showings on the home and countless inquiries by agents and consumers alike. Since it is a heavily trafficked area, I would venture a guess that the inquiries would have been two fold had there been a sign, yet at the same time I must ask: Is this still the day and age where drivers-by call on signs to get more information on the property? Or do they instead, jot down the street name and address of that home and look it up on line in the pressure-free environment of their own home? If so, are we in essence doing our sellers a disservice by posting that impressive company sign in their front yard? Furthermore, does it behoove us to put that sign up any way in case one of the neighbors tells two friends about the home being for sale and they tell two friends and one of those friends happens to be in the market to buy a home?
For Sale signs are quite likely here to stay, yet for now, this inquiring mind wonders if they are in fact, the effective and valuable marketing tool they once were and if not, what might another alternative be?
