There has been much talk about the topic of posting "Coming Soon" listings out there. I've seen it from various posts of people throughout the country, so I am guessing it is a national PROBLEM.
I sat in a seminar today, as our MLS is going to be having a new interface and some new features.
One of the new features is that we will be allowed to enter Coming Soon listings.
These listing will be hidden from the aggregators, and can stay on that status for only 30 days, then they will automatically be posted as Active Listings.
Here's why I'm against it (and I have not heard a good reason for it, as I think my fellow Realtors will game the system):
- One can post a listing there, hoping that someone in their office will see it, thus having them be able to write up an offer, essentially creating a dual agency, and avoid working with other brokerages. It kind of breaks the spirit of having an MLS in the first place when you block out the competition.
- If you have a signed listing agreement, and perhaps the house is not ready to show, just enter the listing period a month down the road. (There goes that argument)
- Others will see the price, and knowing the house is coming on the market, will underprice your listing, thereby hurting your seller's chances to get top dollar, yet creating a possible lower comp.
There are other concerns I have as well. I don't think it does the Seller any good to post it and I also wonder if they could argue that they didn't have contractual intent when it is posted that way.
Just my thoughts... What are yours?
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