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When Does the Coming Soon Sign Go Up?

By
Real Estate Broker/Owner with House to Home, Inc. - Denver Real Estate - 720-231-6373 DRE# ER40011786

 

 

Seller -  We are almost ready to put our home on the market, can you go ahead and put the sign in the yard and start a list of who wants to see our home?

Preparing your Home for the Market

 

It is exciting you are getting close to being ready for the market!    I know you have worked hard since December de-cluttering, painting and had the floors refinished.     I appreciate the Sellers who do all you are doing, and take pride in how your home will show, and so will the buyers!  

 

The Colorado Real Estate Commission and our Local MLS have rules that prohibit us to put a sign out or start advertising before one business day prior to you going into MLS.     In fact, the Real Estate Commission had a position about "coming soon" signs a couple years ago, as it became a huge problem in Denver.   Many agents were putting signs out, and showing their own buyers, and some listings never became available to the regular public.  This is not in the best interest of the Seller when multiple offers are normal.

 

By having your listing on the MLS and available to all the buyers that could be interested in your home, you will most likely get many showings in the first few days and choose between offers.   Proceeding this way, I can ensure you will get the highest and best offer for your home, which translates to the best bottom line for YOU! 

 

 

Comments (30)

Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

It's sad that agents abuse the reason for the "coming soon" status. It also reminds me of the "in-house" postings to try to keep the sale within the brokerage. I remember many of these in my John L Scott days - we were encouraged to try to get them sold before they ever went live. Just one of the reasons we left the brokerage. 

Feb 05, 2020 07:32 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Debb Janes EcoBroker and Bernie Stea JD we have a couple brokerages in Denver that do this also.  Have had a couple of buyers (higher-end) state they would not use those brokerages, as they want a FAIR deal, not just to help the brokerage.

Feb 05, 2020 08:06 AM
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Joan, California adopted the same stance 1/1/2020. I love your clear explanation for sellers.

Feb 05, 2020 08:30 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Lottie, glad to hear CA has the same rules, and thinking by May, the country will all be on the same page.

Feb 05, 2020 09:00 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Joan Cox - I can see that there is plenty of variation by state.

Feb 05, 2020 10:00 AM
Brian England
Vacasa - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Isn't there also a new rule from NAR that would essentially not allow for coming soon?

Feb 05, 2020 10:23 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Grant, and thinking NAR was making this rule so all states would be in alignment.

Feb 05, 2020 10:26 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Brian England I know they did at the convention, but not sure when the deadline was to be.  I know CO jumped with both feet and already changed the rule.

Feb 05, 2020 10:27 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Joan:

Just echoing what Lottie Kendall said about CA.

It's definitely a hot topic and has been for some time.

Jeff

 

Feb 05, 2020 12:52 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Jeff Dowler, CRS it was THE hot topic from 2011 to 2018 around here, and our commission made rules back then.   Not surprised NAR wants everyone to be on the same page.

Feb 05, 2020 01:30 PM
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Joan - this is an important discussion between a listing broker and a seller.  It is also important for others involved in local real estate to understand how such topics are handled in the area which likely dictates compliance.  

Feb 05, 2020 02:07 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Michael Jacobs I agree, and especially when the seller wants advance exposure.   

Feb 05, 2020 02:10 PM
Raymond Henson, SRES, GRI
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

It is an issue in our Sacramento/Elk Grove area as well.  The house gets a coming soon sign, then the house goes on the market.  A few hours later, it goes pending.  It is in the best interest of the seller to get exposed to a wide market and get the highest and best offer.  Some of my clients have wanted advanced marketing.  After we discuss it, most change their minds.

Feb 05, 2020 02:18 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Raymond Henson You are a great agent, and most often is better for the seller when more buyers can view and submit offers.    I think some agents are just thinking about double ending a sale, not the best interest of the Seller. 

Feb 05, 2020 03:21 PM
Raymond Henson, SRES, GRI

Thank you, Joan Cox.  I do have some learning to do and I appreciate you sharing your knowledge.  

Feb 05, 2020 04:11 PM
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Joan Cox - Great post! It is so important to keep our clients updated on all the rules and changes in the MLS. Your clients are lucky to have you. 

Feb 05, 2020 05:54 PM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

Our multiple listing service doesn't allow us to put up coming soon without a hefty fine. They think it gives the listing agent too much of a advantage... 

I hope you're having a great Thursday Joan Cox 

Feb 06, 2020 07:00 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Sheri, thank you for your kind words.   

Feb 07, 2020 07:49 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Paul, we have hefty fines associated with a coming soon sign if not properly used also! 

Feb 07, 2020 07:50 AM
Laura Filip
Laura Filip Broker , Opening doors for All Seasons of Life - Whitesboro, TX
What can we do for you today?

Thank you for sharing the information. Each seller has something different they may want to be done with the marketing of their property. The rules are different with each association. 

Mar 05, 2020 09:38 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Laura Filip we do see every association has its own rules, but think NAR has said everyone has to be on the same page by May.

Mar 05, 2020 11:28 AM

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