To List a home For Sale COMING SOON or not?

By
Real Estate Broker/Owner with Godzyk Real Estate Services NH License 033394
https://activerain.com/droplet/5jHM

A war of words and timing are brewing. An increase of "Coming Soon" signs dots the city. But why? Are all these people thinking of listing their home but just were not ready for showings? All you have to do is call the number on the sign to see a pattern on some of these Manchester NH area homes For Sale.

 

Them masters of Real Estate would always say you only have one chance to be a new listing. There is no doubt new listings get a push of new viewings and showings. So is that time wasted if a buyer sees a sign. Wants to see the home but can not. The answer is confusing as it depends who you are.

 

Lets take a home down the street. Coming soon popped up. I looked it up in MLS and nothing. I called the sign as I have a buyer who wants to live in my area. No showings for 2 weeks I was told. Passing it on to my buyer they were sad an confused. Then the next day I am driving by and see people viewing the home. I call in excitement to get my buyer in but no, there is no showings for 13 days i am told. Wait a minute, I saw a showing... The answer crickets....

 

COme to find out my buyer knows the seller and they see each other at the grocery store. They buyer asks about how much more time they will need to let buyers in. The sellers say they are ready. Wait, what? The buyer asks about coming soon and telling the seller theor agent was told they could not get in for 2 weeks.... The seller knows nothing about it. They have showings they said. Now we are all confused.

 

Fast forward a couple of days and out for a walk, I walk by the home and there is the listing agent showing the home. I walk up and ask when i can get in. Not recognizing me they said anytime. When told that I would bring my buyer in an hour, the gig was up. SO they will show buyers without agents the home and start showings with buyer agents two weeks later? Did the seller know? It seems not. Does this help or hurt the seller? Well it is not hard to think limiting showings hurts the seller well helping those who listed it. I did voice my demay and did indeed forward the info to my buyers who no doubt will see the seller again. Why would they list knowing all interested buyers would not get to see their home asked the buyer. Followed by doesn't more buyers equal more offers which can equal a higher sales price? Yes indeed to all. 

 

 

 

 

Perhaps the MOST IMPORTANT message is to share with every consumer that my philosophy is simple, provide more personal and professional service to guide my clients through each step of the buying or selling process. All Agents are not created equal and every buyer or seller should take the time to hire the BEST not just the biggest. Those that hire me, find a dedication like no other.

 

To CONTACT Scott Godzyk please call 603.661.2121 or EMAIL: Sctprop@aol.com .

 

About the Author: Scott Godzyk is the Owner/Broker of the Godzyk Real Estate Services in Manchester NH. Proud to be locally owned and operated with 32 years of experience, Scott is a leading Agent for Listing and Selling Homes in this area.We are Full Time Agents ready to serve all of your Real Estate needs. Servicing Hillsborough, Rockingham, Merrimack and Belknap counties. 

 

    

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Rainmaker
677,479
Peter den Boer
Atlanta Communities - Woodstock, GA
MBA,GRI, Associate Broker, Realtor

Here in Georgia Coming Soon is illegal unless specifically addressed in the listing agreement. Agents here don't seem to care about that, though.

Jun 17, 2019 05:09 AM #23
Rainmaker
2,959,338
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

I am usually against regulation but this is a case where it is needed Stephen Turner 

Jun 17, 2019 05:10 AM #24
Rainmaker
1,872,120
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Scott Godzyk - confusion and mistrust is caused by this.  Your message along with Barbara Todaro 's are spot on.  Do it the right way and be transparent.

Jun 17, 2019 05:29 AM #25
Rainmaker
893,775
Kay Van Kampen
RE/MAX Broker, RE/MAX - Springfield, MO
Realtor®, Springfield Mo Real Estate

I see where a "coming soon" listing would work.  In this case, it was not working the way it should.  I'm getting ready to do one, waiting for the seller to make some repairs.  Can't wait to see how it works.  Great post.

Jun 17, 2019 05:33 AM #26
Rainmaker
615,399
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
Raleigh - Cary Triangle Real Estate 919-602-8489

I think "coming soon" is a great tool when it is used correctly. Agents showing the property when it is not available to the public is wrong in our area. I'm not saying it hasn't or doesn't happen. I do think it is only a small percentage of the time. You have to be clear with the sellers what the rules are. My sellers know they cannot allow people to view the home and if someone should ask them, they tell them to call me. We once had buyers who were let into a home that was coming soon. The agent worked out a sweet deal with them knowing they had an agent. She tried to get them to do a dual agency. They had an agreement with our team. They were afraid they'd lose the house if they didn't work with her. Long story short, we called her out. They got our representation AND the sweet deal. She lost because of her dishonesty and lack of integrity.

Jun 17, 2019 05:40 AM #27
Rainmaker
2,435,785
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Coming soon is useful to get the job done...

Jun 17, 2019 06:09 AM #28
Rainmaker
751,086
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

Yes, the coming soon, pocket listing gig is very common. We also see active listings but no showings allowed till the weekend as coming soon in our mls does not circulate out of the MLS, so agents want it listed for sale, active so it feeds third party sites but don't want showings till the weekend to build up excitement and hopefully obtain multiple offers. Many agents do not play by the rules...because when it is also active it can be shown, although the online showing service does not allow showings, the listing agent can show.

Jun 17, 2019 07:49 AM #29
Rainer
136,469
Jamie King
Hoty Enterprises, Inc. - Huron, OH
Sandusky, OH

That would be a violation with our board. "Coming Soon" status means NO showings... period.

Jun 17, 2019 06:34 PM #30
Rainer
473,014
Kimo Jarrett
WikiWiki Realty - Huntington Beach, CA
Pro Lifestyle Solutions

It depends on the location, if the home isn't ready to close and needs some repairs and its located in a desirable neighborhood, coming soon may make a lot of sense to create multiple offers. Prospective buyers agents will hold their clients to wait for the opening day and perhaps this strategy might drive up the listing price from  discriminating buyers. 

Jun 17, 2019 10:40 PM #31
Rainmaker
398,287
John Wiley
Right Move Real Estate Group- EXP Realty - Fort Myers, FL
Lee County, FL, ECO Broker, GRI, SRES,GREEN,PSA

Glad you bring this issue into the light. As agents it should always be our goal to do what is best for the consumer, not what is best for us as agents.

In our MLS, to list a property and hold it off requires a written statement signed by the seller.

I do not think it is in the best interest of the seller to limit showing.

Jun 18, 2019 03:39 AM #32
Rainmaker
161,837
Sharalyn Kluke
Keller Williams Seneca - Seneca, SC
Sharalyn Kluke, Realtor, Keller Williams Realty

That behavior would get an agent into major trouble pretty quickly in the Western Upstate MLS! 

Jun 18, 2019 04:30 AM #33
Rainmaker
488,731
Terry McCarley
REMAX Realty Team - Cape Coral FL - Cape Coral, FL
REALTOR, SRES, CDPE - Cape Coral, FL

In my area coming soon is not allowed but I have seen agents o it anyway.  Zillow I believe is the one that started this trend and I personally don’t like it.  I don’t think a sign should go in the yard until the home can be shown.

Jun 18, 2019 04:41 AM #34
Rainmaker
700,186
Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

It "depends". It depends on the marketing strategy, market conditions, timing,  timeline, tactics... and intentions for a dual agency situation. It can be a very clever successful strategy. However, not done right, it can explode in your face.

Jun 18, 2019 07:06 AM #35
Rainmaker
1,006,061
Gloria Todor
Century 21 Absolute Realty - Springfield, PA
& Doug Durren (484) 431-3686 in SE PA

Scott, Sad to hear of the the misuse of this marketing tool.  It is situations like you described that continue to shine a bad light on our profession.

Coming Soon marketing, in my opinion, best serves all involved when it is put on the MLS with the date it will become active. Straight forward.

Jun 18, 2019 07:55 AM #36
Rainmaker
520,305
Wendy Rulnick
Rulnick Realty, Inc. - Destin, FL
"It's Wendy... It's Sold!"

Scott - Superbly written and enlightening article for the PUBLIC! I feel the "coming soon" to the listing agent is self-serving in a couple of ways - their two-sided sale priority and them typically saving money on professional photos (in my market). It's a joke.

Jun 18, 2019 11:54 AM #37
Rainer
507,909
Sham Reddy CRS
H E R Realty, Dayton, OH - Dayton, OH
CRS

Most controversial topic these days...Coming soon!

The masters of Real Estate would always say you only have one chance to be a new listing. There is no doubt new listings get a push of new viewings and showings. So is that time wasted if a buyer sees a sign. Wants to see the home but can not. The answer is confusing as it depends who you are.

Jun 19, 2019 05:04 AM #38
Rainmaker
502,163
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

In the KC metro area, our local MLS has very strict rules about Coming Soon signs and waivers. Many agents do not follow the rules

Jun 19, 2019 12:45 PM #39
Rainmaker
420,559
Betsy N. Robinson - Serving the Sandhills, NC
Everything Pines Partners, LLC. - Whispering Pines, NC
CNS

Our MLS is currently reviewing its No Coming Soon policy.  Several Agents have found a loophole and are doing it for all the noted reasons.  The key will be to find an effective way to police a new rule and to assign stiff fines to both the Listing Agent and Buyers Agent if there is a violation.  The switch to a Sellers Market given low inventory and the greed of some Agents has changed the intent of sharing listings equally as the reason for having a MLS system.  

Jun 22, 2019 09:04 AM #40
Rainmaker
1,523,751
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

I'm glad this agent got found out. It may go against the Code of Ethics for you to tell the sellers what is going on, but there's nothing to stop your clients from telling them, especially since they know each other.

Meanwhile... enquiring minds want to know. Were your buyers interested after they got in to see the house?

Jun 24, 2019 09:14 PM #41
Rainmaker
1,469,436
Georgie Hunter R(S) 58089
Hawai'i Life Real Estate Brokers - Haiku, HI
Maui Real Estate sales and lifestyle info

This is exactly the kind of Coming Soon advertising that is so wrong!  Many MLS groups have strict rules about such a thing.

Jun 25, 2019 07:56 PM #42
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