When you think of the stock image of a home for sale, what comes to mind? Unscientifically, most people would probably visualize a sign stuck on the lawn as the quintessential indicator that a property is on the market. The FOR SALE sign is so inextricably connected to the concept of selling a house that the idea of not using one seems, at first, borderline absurd.
And yet, it’s a reality for some sellers.
There are several reasons why a seller either can’t or might not want to plant a sign. Certain HOAs might either prohibit or restrictively regulate the real estate signage allowed on homes covered by a covenant. Bylaws may state that a sign is a certain color, certain height, or certain size, making an “appropriate” sign either more of a hassle than it’s worth or so inconspicuous as to be essentially worthless.
The same reasons for which some HOAs eschew signs can haunt free-agent homeowners as well. On a street where one or two homes are already sporting real estate signage, there could be the concern that too many houses for sale is indicative of blight or a general downturn. Neighbors may even collude to mutually avoid signs for this reason… they believe everyone can command a higher price if discretion is maintained. There’s also a common belief that, should a house linger on the market for too long, a sign swinging forlornly in the sun is nothing but a visual reminder that the listing has gone stale.
For some folks, it’s a simple privacy issue. Celebrities, local movers and shakers, and other who value discretion all have valid reasons why they might not want all and sundry aware of the fact that they’ve entered the market. In an industry where looky-loos who attend open houses for fun waste the time of sellers and agents alike, the need to clamp down on snoops and idle curiosity seekers can’t be overstated. Similarly, families with small children, adult parents, or handicapped residents in the home may want to shield themselves from the unwelcome surprises of spur-of-the-moment showings. Don’t forget the nosy neighbor! If things are tense with the folks whose property abuts your own, you may not wish to advertise your intentions to exit the scene.
And then, there’s the pocket listings. An uncommon, niche type of selling, this is when a seller signs an exclusive listing agreement with an agent, but the property is never listed on any MLS. Pocket sellers may harbor the same privacy concerns as others mentioned above, but take their caution a step further. Others may be willing to sell their home, but only for the right price and to the right kind of buyer - which hopefully means “someone with cash or airtight financing,” and not “someone who fits my neighborhood’s preferred ethnic makeup” - leaving the agent in charge of courting interested parties on the basis of networking and personal connections. Pocket listings are more common in the luxury end of major metro markets (D.C., NYC, Boston), but definitely exist just about everywhere. Before you consider your home search exhausted in a certain sector, it would serve you well to inquire with your agent as to whether s/he “knows someone who knows someone.”
