What is Sticker-Flicker?
Sticker-Flicker is a term coined by Arit in last weekends Friday free-for-all post to describe a real estate sales sign that has a ’sold’ sticker applied, removed, and then applied again in any number of cycles. This is a phenomena I’ve increasingly noticed myself lately in front of apartments, townhomes and houses around town.
There are a number of theories about the root cause of Sticker-Flicker ranging from a conspiracy to make it appear more sales are taking place to overzealous realtors applying the sold sticker upon recieving an offer, only to see the deal fall through.
Personally I believe its likely the latter. I have very little confidence in the organizational skills of people when it comes to conspiracy and I don’t really see the point anyways. The fact remains that we have over 20,000 places for sale in Greater Vancouver right now, the sellers market is over. Would Sticker-Flicker really motivate someone to buy?
But maybe there’s something I’m missing. What do you think- Have you noticed this phenomena? What causes Sticker-Flicker?
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Greater Fool Says:
July 31st, 2008 at 9:05 am
After being hypnotized by the sticker flicker phenomenon, my realtor convinced me to buy now or be priced out forever!
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View Says:
July 31st, 2008 at 9:27 am
I know how stressful it is to be selling, I would be so discouraged to see a sticker flicker on my front lawn!!! Hahaha…
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shikko Says:
July 31st, 2008 at 9:46 am
Are there any similarities between the flickered “for sale” signs? Same realty group, for example? This will help us determine if it’s mass stupidity (many realty offices) or willful deceit (a few realty offices).
I have fired more realtors (both with and without the ™) than I’ve worked with, mostly for reasons just like this: sheer incompetence, which is the professional manifestation of stupidity.
It’s my opinion that practically all realtors get into the business because they’ve found they’re not fit for anything else. While in school, not one person I talked to ever said “I’m going to be a REALTOR™ after I graduate!” People don’t choose the profession, they back into it.
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Drachen Says:
July 31st, 2008 at 10:05 am
I think the most likely cause of sticker flicker is conditional sales falling through. This used to be common in the market but over the last couple of decades people have been putting fewer and fewer conditions into their contracts. Now that prices are starting to fall and inventory is spiking I suspect there is a rush of conditional sales. The most common condition is, “If we can’t sell our current residence the deal is off at x date.” So, while the property is “sold” it can still be unsold if the conditions aren’t met. “Sold” just means that there’s a completed contract on the place, sometimes contracts fail, especially in this sort of market.
Other common conditions are satisfactory home inspections, successful financing etc. A business instructor I know even likes to stipulate, “as long as my wife agrees” which essentially gives him a free pass if he wants out of the deal before it’s closed.
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Bubble Lad Says:
July 31st, 2008 at 10:09 am
Congrats to Arit for getting the recognition he deserves (remember, I warned you to copyright it!).
I’ve noticed entire signs going up and coming down too, (always unsold) – but I’m convinced they’re still for sale and people are being shown through them. It makes me think they don’t want people to see their listing beside two or three others. Does that make any sense?
I’ve also seen signs with sold stickers come down within a week (after being up for months) – doesn’t the realtor want everyone to know it’s sold?
Then there’s all the unsold signs that have come down in the past few months – maybe to be re-listed when “things pick up” in the fall?
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exx Says:
July 31st, 2008 at 10:30 am
How about places that have had SOLD signs up for so long that they’ve completely faded? One SFH on 1st ave that I drive by has been “sold” for over 2 months – it has 2 signs, both “sold” at the exact same time. Come to think of it, that place also happens to be the last time I have seen a sold sticker on a property. Yikes.
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The Pope Says:
July 31st, 2008 at 10:35 am
(remember, I warned you to copyright it!)
I also just snagged the shot exx uploaded to the sales sign super stack challenge in the forum for the photo animation I just attached to this post.
I tell you I just can’t be trusted.
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Carioca Canuck Says:
July 31st, 2008 at 10:38 am
We’ve got yellow C/S (conditionally sold) stickers that get slapped on and removed out here all the time…..but when SOLD goes up, it stays up.
Noticed realtors here putting for sale signs in windows a lot now, as opposed to hammering them into the front lawns…..trying to hide the obvious.
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Carioca Canuck Says:
July 31st, 2008 at 10:39 am
Forgot to mention, I’ve noticed A LOT of the C/S stickers getting removed 5-7days after they get put up. Probably mortgage approvals falling thru.
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Brian Johnson Says:
July 31st, 2008 at 11:37 am
Bon Scott’s a realtor!
I guess he faked his death to escape to a profession with integrity rather than becoming a sellout like the rest of his bandmates.
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BBY Says:
July 31st, 2008 at 12:03 pm
“Forgot to mention, I’ve noticed A LOT of the C/S stickers getting removed 5-7days after they get put up. Probably mortgage approvals falling thru.”
I wonder what having a lot of sales fall thru due to unapproved mortgages does for the seller’s psychology. That’s gotta be a good reality check for sellers that the market simply cannot pay they price they are asking. Imagine trying to sell a place while having multiple sales fall thru because of this…
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Moldcity Says:
July 31st, 2008 at 1:11 pm
Conditionally Sold? That sounds like something for normal markets, we have no use for that in Vancouver!
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beta Says:
July 31st, 2008 at 1:22 pm
“I’ve noticed A LOT of the C/S stickers getting removed 5-7days after they get put up. Probably mortgage approvals falling thru.”
there you go…most realtors probably don’t have any C/S stickers (why bother in a boom?) and so use “sold” instead; that explains sticker flicker.
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YLTNBoomerang Says:
July 31st, 2008 at 1:32 pm
I just got a notice of a new MLS listing for #317 1255 Seymour Street (v726086) it’s not up on public MLS yet but the price is $639,000 – UP – from the old MLS (v708410) listing of $619,000. After 80 days on the market and no sale with pricing declining everywhere, what kind of a tactic is raising price??? (the old MLS is still listed).
Any realtors (TM) out there care to confirm this?
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Condo Abbotsford Says:
July 31st, 2008 at 1:36 pm
Sold sign only goes up (or supposed to) when a deal becomes firm. C/S is another story..
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Johnny33 Says:
July 31st, 2008 at 1:43 pm
After 80 days on the market and no sale with pricing declining everywhere, what kind of a tactic is raising price??? (the old MLS is still listed).
Raise the price so the upcoming reduction looks that much more of a deal?? lol
Or maybe they installed granite countertops and stainless steel appliances, along with laminate floors… who knows?
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Vansanity Says:
July 31st, 2008 at 2:02 pm
Is this serious? I mean, if I was selling and my realtor asked if he/she could put a sold sign up to… entice buyers. I would have a real hard time believing that strategy would work, regardless of how much time it’s been up on the market. I just find the whole notion strange.
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YLTNBoomerang Says:
July 31st, 2008 at 2:02 pm
Or maybe they installed granite countertops and stainless steel appliances, along with laminate floors… who knows?
Any agent that let’s their client fall for a trick like needs to be fired…
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Anonymous Says:
July 31st, 2008 at 2:13 pm
Realtors are just overpaid car salesman
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Just Saying Says:
July 31st, 2008 at 2:25 pm
When I see a sold sticker these days I think “Really? People are STILL buying?!” It makes me think there might be fools out there yet. So maybe it does create the illusion of demand. I’m often amazed at what people do. Maybe people will buy until the bank (and not common sense) tells them they can’t.
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Alexas Says:
July 31st, 2008 at 2:46 pm
After 80 days on the market and no sale with pricing declining everywhere, what kind of a tactic is raising price???
I think guy just included loss in price after being 80 days on market in order to maintain feeling that he has control over his investment.
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buff_butler Says:
July 31st, 2008 at 2:56 pm
I think one rationality for sticker flicker in an over supplied market is a seller will see one agent “selling well” via sticker flicker and will then try to list through them instead. If enough listings go through one agency they will get a majority of the buyers coming to there door and therefore a good percentage of the low transaction volume.
Drachens post was really good too:
“If we can’t sell our current residence the deal is off at x date.”
With the market pressure you could write completly insane things into the agreement like
-You must drink a letre of syrup
-I get to keep your Aunt Dorthys ashes
-Your wife must come over every tuesday to make me pankcakes for a year
-I get to keep your dog sparkles
-You must wash all my dirty socks for a month
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Lager not Logger Says:
July 31st, 2008 at 3:02 pm
to maintain feeling that he has control over his investment.
He does have control. He can either
1. sell for market value, which is currently dropping and has a long way down until it hits fundamentals
or
2. not sell, but pour cash into a losing investment for the next 5 or 10 years.
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arit Says:
July 31st, 2008 at 3:08 pm
Hey, I am famous!
Bwahahaha!
Thanks Pope for the recognintion. And BubbleLad for the warning LOL!
Lately I am seeing more and more sticker-flicker. I usually see it in new houses though, where there is no current owner who migth oppose the tactic.
Next task for arit:
Film a realtor while flickering OFF a sticker (peeling it) and post his sad look in YouTube.
Coming soon to a monitor in front of you.
Cheers,
arit
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Warren Says:
July 31st, 2008 at 4:09 pm
Like a few others on here I’m more curious about the “stale” sold sign. A SFH near me went on sale back in about Feb I think. It sold in early April and the “SOLD” sticker is still there!
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franko Says:
July 31st, 2008 at 4:12 pm
When I see a “sold” sticker these days (as rare as that happens to be)I’m almost shocked, and can’t help wondering: now what does that poor sucker not know what most of us know?…almost feel like slipping a sympathy card under the door.
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VancouverGuy Says:
July 31st, 2008 at 4:48 pm
You could have an entire post dedicated to your idea, Butler.
“Crazy conditions to put in an offer”
- Months of inventory must decrease 20%
- The benchmark price cannot decrease by more than 1% in the applicable area over the next two months
- Commandos must storm Parliament
- Aliens must launch an attack on India
- Barack Obama must admit he’s not some kind of deity of change sent from above
All about equally unlikely.
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scullboy Says:
July 31st, 2008 at 6:55 pm
ANd let’s not forget my favorite condition, only good for a certain owner in TV towers:
Seller’s mom must perform her “Special happy surprise” Tijuana donkey show at the GM stadium for her adoring clients.
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wolfey Says:
July 31st, 2008 at 7:03 pm
those long time sold stickers represents Realtors buying up the property and used for advertisements I see a couple along slocan. They have been up for the longest time and they are right in front of a dump…can’t miss it
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Drachen Says:
July 31st, 2008 at 7:55 pm
Scullboy
“Tijuana donkey show”
I thought your move was the ‘angry pirate’.
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the source Says:
July 31st, 2008 at 9:24 pm
Sales numbers are still above historical norms. Realtors having trouble keeping up. Prices to lag inflation rate but poised to slowly move up.
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Drachen Says:
July 31st, 2008 at 9:37 pm
Yes, in 1850 housing sales were actually significantly slower than the current trend.
Realtors are having trouble keeping awake at their empty open houses.
Prices are falling, rapidly. They will likely continue to fall rapidly until a few years from now when things will finally land. Those without parachutes will go >>>splat<<<
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YLTNBoomerang Says:
July 31st, 2008 at 9:57 pm
Whoa, just spotted another dreamer! MLS v699182 has been on the market for over 200 days having started at 1,099,000 and then a few drops to $998,000. After such a long time, they have just re-listed for a third time MLS v726179 but this time at $1,102,500.
I personally have looked at this townhouse; it has the smallest most useless deck with no view… there is no wonder it is a dog below 1 mil but cranking it up to 1.1M???
I notice they changed REALTORs (TM) to Gordon Marony “A Delta area REALTOR and former BCREA (2004-05) president… Oh, he’s a Delta agent trying to sell a townhouse in Yaletown, maybe that explains why he has no idea how to price…
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the source Says:
July 31st, 2008 at 10:04 pm
Drachen, do your homework chump, you are obviously someone who can’t afford to buy a residence and has some bitterness. This July was one of the strongest in history for sales.
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SurreyJoe Says:
July 31st, 2008 at 10:11 pm
Here’s a listing I couldn’t figure out. MLS# V707115 – listed at $649 – sold for $575. Basically a tear down in New West in an average New West neighbourhood. Lot value is probably around $500 – so I was surprised to see it go for $575.
A second listing MLS# V721464 – now at listed at $597. Shows the same owners as before the ’sale’.
Anyone know what the heck is going on here?
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jesse Says:
July 31st, 2008 at 10:43 pm
“Sales numbers are still above historical norms.”
Year to date sales are strong. Total sales by revenue is indeed high and above historical norms. However July sales by units sold are the lowest since 2000. In 2000, July sales were around 1600 or so. the source is right: still a long way to go for this bad boy to be called horrendous. But we’re well on our way.
Get your affairs in order if you rely on real estate to make a living. It’s not too late to save some reserves just in case.
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TJbox Says:
July 31st, 2008 at 11:16 pm
This July was one of the strongest in history for sales.
The Source, you’re kidding right? Or is that kool aid you’re drinking?
http://paul-northvancouverhomes.blogspot.com/
Numbers are up for July, it was the LOWEST amount of sales for that month in years.
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Jeff Says:
July 31st, 2008 at 11:31 pm
The sold sticker is for the Realtor to get a new listing. Wouldn’t you list with a Realtor that has been successful selling?
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Amanda W (aka Mandycat) Says:
August 1st, 2008 at 7:56 am
Interesting article…I’m glad you were able to use my photo as an example.
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Drachen Says:
August 1st, 2008 at 8:24 am
The Source
“This July was one of the strongest in history for sales.”
Yes, and if you count history back to Egyptian times we’re looking at a month that’s in the top 1%! Given the recent market conditions there is an exponential need for buyers and as sales show the actual number of buyers is dropping off from the last few years. Of course if you take pretty good sales and add them to record breaking listings you still have the recipe for a crash. In this case sales that are merely ‘good’ are like a pile of feather pillows trying to stop the listings locomotive.
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shikko Says:
August 1st, 2008 at 9:29 am
the source said:
Sales numbers are still above historical norms. Realtors having trouble keeping up. Prices to lag inflation rate but poised to slowly move up.
Sales numbers are always above historical norms…unless they aren’t. So please, tell us where we can see your data. Or do you not have any?
This July was one of the strongest in history for sales.
Must be opposite day.
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The Pope Says:
August 1st, 2008 at 9:32 am
I should have paid more attention – the photo in this post was taken by Mandycat not exx. The original is posted here:
http://dailydose4u.wordpress.c.....bc-canada/
It’s a great shot, let me know if you have a problem with me using it here.
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Anonymous Says:
August 1st, 2008 at 9:35 am
People,
They’ve been doing sticker flicker for the longest time. Even during the booming years back from 2004 to 2007. I went many BOSA and Polygon development pre-sales. One week I go there and they have only two units left on the second floor, the next week they have another unit on the third, the next week they have two on the first floor, the next week they have two more on the second floor. And this will go one for weeks and weeks.
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The Pope Says:
August 1st, 2008 at 9:41 am
Sales numbers are still above historical norms.
As long as you don’t count recent history. Compared to July of last year sales have dropped by 41%:
http://paul-northvancouverhome.....ntory.html
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bdk Says:
August 1st, 2008 at 9:50 am
41. Shiko
Do you mean Shiko Shiko?
Segoi!
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the source Says:
August 1st, 2008 at 9:53 am
Was last July not an unusually high number? Look at the historical data. To say this July is historically low is incorrect.
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Drachen Says:
August 1st, 2008 at 11:38 am
the source
“the historical data.”
As I’ve been trying to point out (I guess I’m too subtle for you) ‘history’ means different things to different people.
It’s completely accurate to say, “Historically Vancouver has had a population of under a thousand.”
Or, “Historically Vancouver has had no real estate market. If you wanted a house you picked a nice piece of land and built one!”
You’ve got to specify what bit of history you mean and preferably provide some data.
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Amanda W (aka Mandycat) Says:
August 1st, 2008 at 12:06 pm
No problems at all
Glad you were able to use it for this article.
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shikko Says:
August 1st, 2008 at 2:35 pm
the source said:
Was last July not an unusually high number? Look at the historical data. To say this July is historically low is incorrect.
Okay, please look at this chart: http://tinyurl.com/5b66q4
Now please tell us what ruler or equation leads to the claim that 2400 (July 2008 sales) > 4900, 2750, 3600 (July 2007, 2006, 2005 sales respectively).
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islander Says:
August 1st, 2008 at 9:19 pm
C/S sticker is a way of telling lookie-loos that an offer is in place. It is a courtesy to buyers and realtors so they don’t chase a property is only nominally available. Doesn’t mean a buyer can’t look at it. Or make an offer. But they’ll be in a backup position at best. Many buyers and realtors are offended if they spend time on a listing only to learn later that it’s conditionally sold.
Sold stickers are only supposed to go on once the deal is firm.
It’s possible, even after all conditions are waived, for a buyer to decline to follow through on a transaction. There are consequences, of course, but it’s not unheard of. So a Sold sticker could get peeled off.
shikko Says:
July 31st, 2008 at 9:46 am
Are there any similarities between the flickered “for sale” signs? Same realty group, for example? This will help us determine if it’s mass stupidity (many realty offices) or willful deceit (a few realty offices).
I have fired more realtors (both with and without the ™) than I’ve worked with, mostly for reasons just like this: sheer incompetence, which is the professional manifestation of stupidity.
some supercilious tool said…It’s my opinion that practically all realtors get into the business because they’ve found they’re not fit for anything else. While in school, not one person I talked to ever said “I’m going to be a REALTOR™ after I graduate!” People don’t choose the profession, they back into it.
Nobody forces anybody to use a realtor. Sell your own house. Buy a house on your own. Fill yer boots. Why so much bitterness?
People pay, what, a few thousand bucks once every 5-25 years to sell their biggest asset. But they pay tens of thousands of dollars every year to the government. In the former instance, they have a choice to avoid realtor fees. In the latter instance, if they choose to avoid taxes they go to jail. Get your anger pointed in the right direction instead of being a whiny victim all your lives.
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ellery Says:
August 2nd, 2008 at 12:24 pm
“People pay, what, a few thousand bucks once every 5-25 years to sell their biggest asset. But they pay tens of thousands of dollars every year to the government. In the former instance, they have a choice to avoid realtor fees. In the latter instance, if they choose to avoid taxes”
uh, we get health care and fire services and library services and road maintenance and police in return for the taxes. what do you offer?
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Drachen Says:
August 2nd, 2008 at 7:38 pm
ellery
Not to mention protection, the oldest and best reason to pay taxes. If we lived without taxes (ie in a state of anarchy) any warlord could come and take your things, your family, your life at a whim. People who whine about taxes as much as islander are just too stupid to consider the alternatives.
But then islander’s already proven his lack of intelligence by proposing that, if no services were offered to homeless people, they’d all just go away.
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Anonymous Says:
August 2nd, 2008 at 8:30 pm
Sold sign on this place http://tinyurl.com/553e6p for awhile. The web page was last updated Jul 3rd so I guess it has been there for 1 month.