More 'Sold' Signs Appearing.

princeofpounds

Lots of reasons why this could happen - lots of downvaluation around these days..and a lot of people who aren't willing to sell at the valuation they give...

Oh sure, and I'm certain you are right in many of these cases. But that doesn't explain the other anecdotes I've related, and it doesn't explain how in the case of one big agent in my area their signs ALL went sold within a couple of days during the middle of the crash. We're talking a dozen signs I see regularly in my local streets. I probably didn't explain it fully above, but this wasn't an incremental thing, it all happened within the space of a month in January-Feb.

Gingernutmeg

Out,_Vile_Jelly wrote: »

The agent I went through kept up their (gaudy and ugly) "let by" sign for over 3 months after I moved in. A real eyesore.

I thought that there was some kind of law/rule/whatever that stated that a sign had to be down within a certain time period ... 24 days following someone moving in is ringing a very faint bell with me but I could be absolutely wrong, and I'm not sure whether this applies to rentals as well as sales. I'm sure I read something about this somewhere though.

princeofpounds

I thought that there was some kind of law/rule/whatever

There is, 14 days. It's to do with planning laws regulating advertising. But agent's rarely comply unless you notify them they will get reported.

The BBC website recently did a story where one local OFT office decided to go around and blitz the offending signs in their area. Got loads apparently.

Gwhiz

princeofpounds wrote: »

While you can take them down, you aren't actually allowed to dispose of them as they are the agent's property. It's very annoying. Although i've never known it to happen to anyone personally, i've seen a few posts online where agents start to bill people who do it.

I phone and give them 2 weeks. Then when nothing happens I saw them up and chuck. Never had a problem.

Guitar

I pass the best part of 50 For Sale and To Let signs on my way to and from work. I noticed a new Sold sign on my way home just now.

There's a 'Sale agreed' sign at the end of my street that's been up for at least 9 months, the house has been empty for a few years with still no sign of anyone moving in.

27col

I am finding it difficult to believe that ES would put up sold signs on houses that are not sold. The first thing that that would would be to prevent other prospective buyers from enquiring about that particular house. If it was a house that I was trying to sell I would be furious and would immediately go to a different ES. If the idea is to raise the status of the ES then it would fail completely in my estimation. The purpose of the sign is to advertise the house, not the ES.

missz_2

I think a lot of them are false. Many sold signs only mean an offer has been accepted - the buyers may not have the funds arranged. One house I had my eye on had the sold sign go up, then it was down a few weeks later. Another one I went to see last week had a sold sign up when I got there! I asked what was going on and the vendor said she was confused too and needed to ask the agency.

I think by putting the SOLD signs up the EAs are probably pushing things along a little. Many people will think things are moving and so they might be encouraged to move faster too.