"Coming Soon" Listing Guidelines
There have been a lot of questions surrounding the policies and rules of “Coming Soon” listings and we wanted to take this opportunity to answer the most commonly asked questions.
A Coming Soon listing status can be used to help the Seller to prepare their property to go Active in the marketplace. Maybe more time is needed for professional photos, the creation of marketing materials, or the property needs a few improvements that require additional time.
Use these guidelines as a point of discussion with your seller to determine if this is the best plan of action for advertising their home.
Only members of realMLS will have access to the Coming Soon Listings. They will not be syndicated to third-party websites such as realtor.com or member’s IDX websites.
Coming Soon Listing Guidelines:
- You must have a signed Listing Agreement AND a signed Coming Soon Listing Addendum. The listing, as usual, must be entered within 24 hours of obtaining a signature or the effective date of the contract, whichever is greater.
- A listing can be in the realMLS system for up to 14 days before it becomes active. You may request an additional 7 day extension by contacting services@realmls.com.
- Price changes can only be made by realMLS staff. Please send all price changes along with signed documentation from the seller to services@realmls.com.
- The Coming Soon listing can be made active at any time prior to the 14 days.
- Days On Market (DOM) will not start accruing until the listing is Active.
- A Coming Soon listing may NOT be shown to any prospective buyer prior to the property being made active and is viewable to everyone, members and the public, as an active listing.
- A Coming Soon listing may be advertised to include a sign in the yard, however, remember that the property is not to be shown to any prospective buyer until it is Active
- An Open House may be scheduled for a date that occurs on or after the day the listing is made active.
- The seller must agree to all terms of the Coming Soon Addendum which “authorizes the Broker to withhold all offers of purchase until the listing is placed in an Active status.”
- A Coming Soon Listing is NOT to be used to create a “pocket listing” or to circumvent other realMLS Policies or Rules.
By using the Coming Soon Listing Addendum, you can educate your seller on what to expect to help them fully understand the implications of this marketing approach so they can determine what is in their best interest.
When used properly and in compliance with our guidelines, the Coming Soon listing status can be used to generate a marketing plan that provides enthusiasm and builds momentum, which can be advantageous to your clients.
If you have any questions or need further assistance, please contact us at 904-394-9494 x1603.