Earlier in 2017, Carolina Multiple Listing Service (CMLS) in the Charlotte, North Carolina region introduced a new category of listing called "Coming Soon-No Show." Since the introduction of this new category of listing, I've had lots of questions from both home buyers and sellers about what this means to them in terms of better marketing their homes or getting in to see homes early. Here's a brief explanation of the key points:
What Does "Coming Soon-No Show" Mean For Charlotte Area Home Buyers?
- Anytime a property is listed in Carolina MLS as a "coming soon-no show" home, the information about that home is visible to all CMLS members and to any home buyers who receive that information from their CMLS member agent. However...
- "Coming Soon-No Show" properties MAY NOT BE SHOWN to prospective buyers while categorized as such. Buyers, if you see a "coming soon" home you are excited about, do not ask your agent to show it to asap! They can't.
- "Coming Soon-No Show" properties cannot be categorized as such for longer than 21 days. So at the least, you know that you should be able to see the home within 21 days or less.
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Your agent can make an appointment to show a coming soon property in advance with ShowingTime beginning the first day of active listing status (also called marketing date).
What Does "Coming Soon-No Show" Mean For Charlotte Area Home Sellers?
- Coming soon properties MAY NOT BE SHOWN by your listing agent until the property status is changed to "Active." A listing agent can be fined $1,000 for breaking this rule.
- "Coming Soon-No Show" properties are NOT syndicated by Carolina MLS to any public real estate websites (such as Realtor.com, Homes.com, etc.).
- "Coming Soon-No Show" properties MAY NOT BE ADVERTISED/PROMOTED by the listing agent/listing brokerage either on the Internet or through other channels, including social media sites, brokerage websites, etc.
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"Coming Soon-No Show" properties MAY NOT be categorized as such for longer than 21 days. If for some reason the property cannot be activated by the 21st day after listing as a coming soon, the status of your home needs to be changed to Temporarily Off Market.
- If the listing activation/marketing date gets extended beyond the initial 21 days and the listing remains in Coming Soon-No Show status, your listing agent must cancel and reschedule all showing appointments that may have been made in advance of the initial date before the new marketing date. ShowingTime will not “auto-cancel” pre-scheduled appointments.
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Days on market do not begin counting until the property listing is put on active status.
- Sellers whose property will be listed in the coming soon category must sign a formal authorization to do so, which delineates the rules to be followed, key dates, etc.
This information about Carolina MLS's coming soon home listing option is provided by Nina Hollander/Carolinas Realty Partners with RE/MAX Executive, your Charlotte metro area real estate consultants.
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Coming Soon Character Image Courtesy of Stuart Miles at FreeDigitalPhotos.net
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