The Real Estate Sign - Lore, Myth, and Legend

Does a for sale sign on your lawn help you sell your house? Of course it does!

The for sale sign is responsible for a few things in the process. Let's first look at what it's use was in the past. In the dark ages (pre-internet) if you wanted to sell your house, the for sale sign was very important. It was one of the only ways to advertise your intention to sell your house. The only other ways were classified ads, bulletin boards, and the well connected real estate agent.

In today's age of the information super highway (do we still use that term?) your online listing is your for sale sign screaming to people zipping by at the speed of a Facebook news feed. But does the old school for sale sign, the one in real life, on your lawn, still offer you value?

To answer that question you have to go around the complete circle. What is the purpose of the sign and what information does it provide to it's intended audience? The main purpose of the sign has not changed. It is to tell people your house is for sale and how to get more info. An agent`s sign usually provides their phone number because they want the buyer. Maybe for your house or for another if your's isn't exactly what they are looking for.

On the PropertyGuys.com sign we have our ContactPro phone number so questions can get answered and appointments can be booked. We also have your Sign ID# to direct people to your online listing. This is where the virtual viewing of your home happens. It all starts with the buyer falling in love with your home and this can all start with an innocent drive through your neighbourhood and seeing that 5 foot tall lollipop sign on your lawn.

Don't underestimate your sign, it says you are selling and should connect people with your house, not someone looking to sell any house!

M

What To Do With All This BS?

Author’s Note: Due to a complaint about the legitimacy of information in this post I have double checked my sources and found the data to be accurate and made some notes below. I have also made some edits to help protect the home buyers/sellers involved as well some of the language has been edited due to individual interpretation of the specific words used.

I think I need a skid of these to deal with it all!

I hear all sorts of stories in this business. I recognize that they all start with a kernel of truth and through the art of story telling they get altered slightly. We all remember playing broken telephone as children, right?

I was out putting up the first of two sold signs in Cambridge last Friday when I came across a flyer blowing aimlessly on our client's door step. I am sure it fell out of the door jam or mailbox but there it was carefully avoiding my feet as it tried to get my attention.

I picked it up to see the same drab excuse of a flyer we expect from a (replaced Joe Schmoe with) ordinary agent. What popped for me was the PropertyGuys.com sign in the photo. (Using other people's trade marks in your advertising is not allowed and was a big motivator to this post. I have scanned and presented the flyer as it was found and included another company logo only to show the flyer in it's entirety.) When I read it in detail I knew it was a stretch of the truth at best. It is the exact opposite of everything we see in the market...so I did some digging.

Nothing is the truth except the truth, and here it is.

Address deleted
Listed with PropertyGuys.com on July 14 2008 at $267,900
Cancellation date deleted
Listed with Robert Wollziefer on Sept 30 2008 at $269,900 MLS® #0894383
Relisted with Robert Wollziefer on Dec 1st 2008 at $259,900 MLS® #0895294
Sold Date Jan 29 2009 for $255,000 (There was some question to privacy laws in publicizing the sold value of the property. This is already public information available through the Municipal Property Assessment Corporation aka MPAC)
Total days on MLS 121
Estimated commission paid at 3.5% $8,925 plus $446.25 in GST
Net amount client sold for deleted

Here are some points that Robert fails to point out in his marketing piece:
Details of the price drop of $8,000 in listing price and $12,900 to the actual SOLD price
(Deleted a comment regarding bottom line price client received after commissions payed).
Property was relisted after 60 days on the market

Here is (in my opinion) the absolute (replaced false with) misleading statement made:
"One day they received 3 offers and can now move forward"

As you can see from the truth above, they were listed for a total of 121 days with Robert (deleted “and not the 1 day he states”. It was brought to my attention that the client did in fact receive 3 offers in one day, the ad fails to mention that it took 120 days prior to that happening). The truth is they were listed twice as long with Robert than with PropertyGuys.com and needed to drop their price because it was price that was the issue not their choice of marketing. (Deleted language specific to the client and replaced with) One of the true benefits of selling privately is the fact that you are able to lower the cost of the transaction. Those costs can either be kept by the seller or used as a tool to lower their price, making them more attractive in the market place and sell faster.

Way to help them "Move Forward" Mr. Wollziefer, (grammatical error replaced your) you’re a gem!

Do you have a similar story? Leave a comment! Your story may help someone else avoid the "Rubber Lips"...


M

How Many O/H Signs Does It Take?

Is more better?

There seems to be some misinformation in the FSBO world. If people are having problems selling their home privately it would seem they blame it on lack of Open House signs. I come to this conclusion because when people have been on the market for 6-8 weeks they seem to add more signs.

On a positive note they are trying to increase a third of the HOME SELLING TRIFECTA. Problem is they are not hitting the right one.

Do you know how many eyeballs are seeing your home? This information is imperative to selling. You see if you are judging your sale proceedings simply on the traffic in your door you are making an oversight that could cost you precious time and money.

If you have had no phone calls and no showings in the first 4 weeks of marketing your home you need to make a decision. You need to change something in your HOME SELLING TRIFECTA. But what? It would seem people automatically place blame on Exposure. If people are seeing your listing online and choosing not to call you, Exposure is not your problem? Let me give you a scenario that may show why other areas need to be considered.

You are the PROUD owner of a 1992 Chevrolet Corsica. A fine piece of North American engineering. Since you bought it off the showroom floor you have babied it. Oil changes every 5,000km, brakes at the slightest hint of a pedal pulsation, new spark plugs each and every spring, fuel injector cleaner in every 4th tank of premium fuel. Nothing is too good for your baby. This time of year most people are leaning towards snow tires for their car, you wouldn't think of it because your sweet ride hibernates through the winter. Alas it is time to move on. A new minivan is calling. The twins changed everything. The scoundrel at the dealership told you your baby is worth $500 for trade, you almost puked. The Voltage Blue Metallic Clearcoat still glistens in the heat of a midday sun and highlights the FOR SALE sign posted in the window. To make it easy for people you even put the price right there on the sign. After weeks no one has called. You place signs at every corner within a 2km drive of your house announcing the availability of this classic road machine, nothing. Time to up the ante and place an ad in the paper.

1992 Chevy Corsica
Like new, under 100,000km
of summer driving. Call
Today to get this car
$22,500

I am sure you could always look at washing away your blues with some lemonade...


M

How Is Your House Branded?

Tell me, what's in the bag?

When we make our buying decisions we look to the familiarity of brands. We look to something that is tried, tested and true. Products and services become popularized only after a Maven has proven their worth. What is a Maven? Wikipedia tells us Malcolm Gladwell used the term in his book The Tipping Point (Little Brown, 2000) to describe those who are intense gatherers of information and impressions, and so are often the first to pick up on new or nascent trends.

We brought PropertyGuys.com here to the Waterloo Wellington area over 3 years ago. The Mavens have come and have been telling all their Connectors about us. Word has spread. People are talking about PropertyGuys.com.

How do buyers look at your home? Do they see a bloated balloon? Maybe they see indecision in that faded orange and black sign?

Branding your house, good or bad, could be the difference between selling and sitting. Katie Johnson knows:

[I'm] very impressed with PropertyGuys.com. They have a great brand and have firmly founded themselves outside of the expensive MLS world.

Katie Johnson
Kitchener ON
Sold Aug 2009

What are you doing to brand your home. Are you branding it properly? Are you passing on confidence of a brand to prospective buyers? One that speaks to them?

We are not just creating our brand through Connectors and Mavens. We are also getting word on to lips of others...



M

She's So Funky Ya

Kate Bush is not that "funky", no matter how hard she tries.

When I was growing up so many people thought the song Games Without Frontiers by Peter Gabriel had the repetitive line of "She's so funky ya". Do you remember it? Everyone singing it at the tops of their lungs "SHE'S SO FUNKY YA". In actuality it was simply the title in french "Jeux Sans Frontières" as sung by Kate Bush.



We often think we know something when truth be known we have no clue. If you are missing information (like knowledge of french) it makes it difficult to even know that you are wrong. We see this in the housing market. A sign goes up, hangs around for a while, comes down. A new sign goes up and miraculously a sold sticker. Must have been that new sign, right? Not so much.

When one lists their house for sale they usually do so with the best of intentions. In turn they are also trying to get the most out of their investment. Problem is so many people price their home from what they want or need to get from it not taking into consideration market price. This usually leads to the home being overpriced and on the market for an extended amount of time. The home seller eventually places blame on the person they listed with and looks for another alternative (a different sign).

This new sign comes in with a solid case for adjusting the price. Rightfully so, if your house has been on the market for 2-3 months you are more than likely priced too high. Once the new sign (along with the new price) get onto the market SHAZAM a sold sticker. Was it the sign or simply the adjustment of price?

A home priced right for the market will sell. If your home is listed now and things are not going the way you had hoped, you may need to adjust your price. If you are looking at the bottom line after paying an agent 5% of the value of your home and saying there is no room to adjust your price, it may be time to switch from the square sign on your lawn to a round one.

M

The Latest, Greatest, Wonder Tonic To Sell Your House

That's right boys and girls, gentlemen and ladies. This wonder tonic will calm your worries, ease your troubles and make you sleep like babies.

I am not talking about a scheme or a plot just come and see it, I promise you'll want what I got.

Your house has sat through a few of the seasons. Over and over you have thought but it is obvious to me the reasons.

Now you must ask "How much for your tonic?" Well that all depends on just how much you want it.

This magical solution is amazing and bold. You will exclaim "It was that easy to have it marked SOLD!"

I will now reveal the most amazing and intoxicating nectar. One that will change FOR SALE to SOLD before you can say "bring on the home inspector."




No really!! As you drive around town watch for the signs. The ones with the tonic can no longer hide. Soon they will be marked SOLD and you will be jealous because you didn't believe and thought I was overzealous.




Now if you decide that I am truthful about my wonder drug. I am the man you should come to.(shameless plug)

Don't go shopping around town to compare. The price of this sign from others is not fare.

They will cost you so much of your hard earned dough. You will want to stay far away from those ordinary Joe Schmoes.

Where Do Buyers Find Homes?

It would seem they are looking everywhere.

We often get asked to advertise our clients in the paper. That the paper is where they NEED to be. We find many of our clients from ads they have placed in the paper after putting that FSBO.

Truth is people are searching on websites not in their local paper. Paper is still an additional form of advertising that we recommend, but if you are not on the internet then more people will miss your home than see it. Heck even agents say that people are searching EVERY website not just the agent sites.

I love the part at the end when she talks about how happy her clients are.

Just imagine how happy you would be paying yourself that $15,000 in commissions.

M

Pricing. Don't Screw It Up!

I think everyone I know has gone to that school.

Human nature is to screw up and learn. Those that don't will fall pray to making repeated mistakes and die in the jaws of Darwinism.

Keith Church, Broker of Record for the local Prudential brokerage in Cambridge, sheds some light on a situation that we see all to often.

People that over price their homes will usually blame their selling mode ie:specific agent or marketing company. The one area that agents really have an advantage over a private sale marketing company like PropertyGuys.com is that they will push to lower the price of your home with such passion, such fury. They will even use old fashioned guilt so that you feel obligated to lower your price. Sure it depends a lot on your circumstances, but we all have a budget to work within. The agents, they just want to get paid.

As Keith points out, if this person had priced their home properly they more than likely would have sold. Being $285,000 over priced is not going to get you what you want, trust me on that.

Sure you can find an agent to take your listing at a ridiculously high price. Sure you could list it with a company like PropertyGuys.com. Sure you could throw that hardware store sign on the lawn and wait for someone to drive by. Until you have it priced right you are waisting your time (and everyone else's for that matter).

Get an appraisal done, have multiple agents come through to give an opinion on value, do your own serious investigation. What ever you do don't just throw darts. Do some digging. Price is not everything, you have to pay attention to the Home Selling Trifecta for sure, but PRICE IS KEY.

Even the "stupidity" of $399,000 vs $400,000 is something to think about. Here an agent "dumbs it down" for all of us.



M

Winter Real Estate: Can You Sell a Gift Wrapped House?

Door bells ring, are you listening.

It's the elusive winter home buyer!

We often hear that the spring is the best time to sell a house. If you try selling in mid winter you are crazy......nutty.....looney. Fact is many homes continue to be sold through this time. December - February accounted for 18.16% of all the property sold in Waterloo-Wellington over the last 12 months. In contrast March - May equalled 31.07% of all home sales over the same period. No one would claim that the winter would be better in the summer right?

Why not?

Your house is decorated nice, it's practically gift wrapped. It smells like turkey and pine half the time. Most people are feeling rather festive with the holidays around.

Don't discount this time of year. Almost 1/5th of all homes sold last year were sold during this time. For the buyer it is a great time to shop as well. People that went on the market after the summer hoping to catch a wave are now anxious to sell. They are adjusting their prices and looking for the right hook to draw in the buyer.

As the houses grow stale the buyers look for that new property, fresh on the market. Like a child bounding towards the impending mess of the presents they leap and hastily put in an offer on the "new house" up the street from the one they have been watching.

Is it your house being unwrapped this holiday season?

Give the gift of real estate.


Just make sure you dig out your sign!

M

Culturally Iconic?

The Popemobile is something everyone knows in any context.


In real estate there are some that we all know. The hot air balloon, the gold jacket of the 70's and 80's but nothing has stepped up and lead a revolution. Where is the real estate Che Guevara to lead the revolution? Where is the Real Estate Cultural Icon that stands for change?

"Just like the golden arches represent fast food, we believe this round sign will be the ICON for the private sale industry."
Ken LeBlanc, President
PropertyGuys.com National Conference
February 12, 2008

Today the journey towards icon is well under way. With franchises across the country and round signs in hundreds of communities from coast to coast PropertyGuys.com is getting noticed. With well over 400 of them in Waterloo Wellington and surrounding areas it is hard to go house hunting and not see a round sign. The agents have taken notice. Directly marketing against private sale and specifically the round sign. When the top producers start setting their sights on the round sign, you know it is making an impact.

Looking at other areas of the country things are progressing just as well. When editorial cartoonist Pat Jollimore decided to focus on the federal governments decision to sell off crown assets the round sign icon was obviously emblazoned deep with in her subconscious mind.



NOTE - Due to request from the cartoonist the original has been removed. I have replaced with my own interpretation of the situation.

Published in the Halifax ChronicleHerald Sat Nov 15th

Next time you see a round sign, remember just what it stands for.

Sell Your House. Pay Yourself.