When you see a "Pending" or "Under Contract" sign, it's not meant to keep other buyers away. These signs are meant to advertise that the Realtor was in fact able to get an accepted offer on the home. The target is other homeowners thinking about selling their home in the near future. It does unintentionally cause buyers to not even consider the home.

As a company, we aren't big fans of these signs because the last thing we want to do is deter potential buyers from considering the home for sale. Until a home is closed there are things that can go wrong that could potentially kill a sale. If we don't keep marketing the home we could miss potential buyers who would have been otherwise interested.

There is nothing wrong with putting in a backup offer, or checking in to see how things are going in case there is potential for the current deal to fall through. We have represented several people who were thrilled when their backup offer was accepted. We've also saved sellers a lot of time and money when we recommended they keep allowing showings after an offer was accepted.

These signs rarely help a seller, and if a "Pending" sign is put up and then the deal falls through, once the "Pending" sign comes back off everyone wonders what was wrong with the house. It might not have had anything to do with the house but it creates a stigma.