FAQ: Why Would A House For Sale Still Have a Sign Up Even If It’s Under Contract?
November 18, 2009 by Katie Wethman · Leave a Comment
Buyers are often frustrated when they drive past a great house for sale, only to go online and find that it’s “Pending” or “Under Contract.” So why is the sign still up?
First: Free advertising for the listing agent. They’re hoping you call the number on the sign so that they can say “That house is unavailable, but there are others that I can show you!”
Second: It’s in their client’s best interest to leave the sign up. The house isn’t “Sold” until everyone has left the settlement table. While a lister (that is, the seller’s agent) is required to change the status in the Multiple Listing Service as soon as the contract has been accepted, there’s no similar requirement to change the sign out front. That listing agent wants to keep as much interest as possible going just in case the contract falls through.
Next question?
Ready to start your search? Contact me and we'll meet for coffee to see if it makes sense to work together. Not in the DC area but need a recommendation for a good real estate agent? I have a nationwide network -- just ask me!
Related posts:
- How Do I Protect Myself if I Need to Buy and Sell a House at the Same Time? (Part I) Now that the first time buyer rush is nearing its...
- How Do I Protect Myself if I Need to Buy and Sell a House at the Same Time? (Part II) This is the second part in a series about tools...
- Short Sale Statistics for Arlington Our local MLS has added a field to specify short...
- Short Sale Statistics Our local MLS has added a field to specify short...
- Buyers Under Contract – Careful What You Shop For! Buyers under contract know (or *should* know) not to run...
Related posts brought to you by Yet Another Related Posts Plugin.
