Each year, the National Association of Realtors produces a study that shows how buyers found the home they purchased. The study includes those listing without an agent or realtor, and those listing with. In the most recent survey, it showed 11% of buyers found their home through a yard sign or open house. So should you use a for sale sign? YES! Let's take a look at some more details.
The fact that more than 1 out of every 10 buyers finds the house they ultimately purchase via a for sale sign shows it's a very effective form of advertising. As an added bonus, for sale signs are cheap (or free if you list with HomeBay) - so there's very minimal cost to you.
The same study by the National Association of Realtors shows 8% of buyers found the home they ultimately purchased through a social connection, such as a friend or relative. It's likely safe to assume that a sign brought the home to the attention of at least some percentage of this 8%.
Sellers sometimes tell us they don't want the for sale sign in front of their home - typically because they don't want their neighbors to know they're selling. We advise against this approach because the statistics cited above indicate that the seller may be losing serious buyers.
The bottom line is - for sale signs matter and you should have one in your yard when you go to sell. This is true whether you are a FSBO listing or listing with or without a realtor.