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Phony Sold Signs
A British Real Estate Agency has been fined for placing phony 'sold' signs up outside the houses of its own employees. It's not quite clear to me what they gained by doing this. I assume it made them look like they were doing more business than they actually were. Still, it's odd to think that as you drive around a neighborhood and see all those 'for sale' and 'sold' signs, that the signs might bear no relationship to reality at all.
Business/FinancePlaces
Posted by The Curator on Wed Aug 04, 2004


The agent probably put up the signs so that no one would call to get a showing of the houses. That way, he could show them to his clients and make the sale himself. Greedy, greedy, greedy....
Posted by Mark  on  Wed Aug 04, 2004  at  06:20 PM
This practice is (false) advertising for the Agency - to make them appear more successful than they really are so that:
- sellers sign up with the Agent to market their houses;
- owners ask the Agency for valuations and, if persuaded to sell, then market through that Agency;
- and buyers looking for property in that area visit the Agency.
Posted by jag  on  Thu Aug 05, 2004  at  05:11 AM
Every agency does this here (in London)! It's become a competition thing now. They actually have guys to go around and replace other agencies boards with their own and they even put the boards on garbages and recycle bins! A corner down the street from me has about ten signs just propped on trees and stuff. Free advertising!
Posted by Dawn  in  London  on  Sun Aug 08, 2004  at  02:44 PM
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