6 years ago when I ventured into the career of Real Estate, "Coming Soon" was not yet a "thing". Now you see "Coming Soon" on homes for sale pretty regularly. Here are the answers to a few of questions I frequently get asked.
What Does Coming Soon Mean?
It is a home that will be listed for sale and available to buy sometime in the near future. It's info has been added to the multilist to give potential buyers an online preview of the upcoming listing.
Can I see (take a tour of) a "Coming Soon" listing?
No, the home owner and listing agent cannot schedule showings until the home is actively for sale. The Multi-list data system we use as Real Estate Agents, does have the active listing date available, so your agent should easily be able to determine when you can officially schedule a showing of the property.
How much time before a listing is available to the public, can it be marketed as "Coming Soon"?
There is no specific timeframe. The listing agent must put the date the home will be actively available to tour and buy in the Multi-list. I have seen homes listed as "Coming Soon" days before they are active up to weeks before it is active. I personally feel that if the home is listed as "Coming Soon" for more than 7-10 days, that it is too long. It can get stale or frustrate potential buyers.
Why does a seller list their home as "Coming Soon"?
One reason may be that the sellers are ALMOST ready to let the public in, but not quite there yet, (they are still updating, preparing, fixing) so they list it as "Coming Soon" to build some anticipation. Sometimes the homeowner just wants to build the anticipation or "create a buzz" in hopes to have several interested parties as soon as the home is available to see.
The idea of listing your home as "Coming Soon" before it is active is an individual decision. I believe that some homes may benefit while other may not, or may even be negatively affected. Also, the regulatory agency that oversees your MLS area may have different guidelines on the use of "Coming Soon" in a new listing. Your best course of action is to discuss the pros and cons with the Real Estate professional you are working with.