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Coming Soon is a listing status in MLS. It’s purpose is to give agents and clients of agents a heads up that a home is coming on the market soon. It’s intention is to provide fair access to properties by all agents and stop agents from steering properties to their own buyers or those of agents of the firm.
The practice of Pocket Listings where agents marketed properties before they are placed in MLS has caused the practice to become prohibited. The National Association of Realtors (NAR) has established a policy entitled “Clear Cooperation” to establish fairness in the practice of marketing properties.
There are three rules you should be aware of. First, within 24 hours of any marketing of a property, a listing must be put in Coming Soon status. Any flyers, yard signs, social media, open houses, letters, postcards, etc. trigger this rule. Second, the property cannot be shown until the status is changed from Coming Soon to Active status. Again, making it fair to all buyers to have a chance to view and make an offer. Third, the timeframe is limited for this status. Currently 30 days, it was extended from 7 days during the pandemic. Agents be fined if they violate these rules.
These rules are usually in the best interest of the seller as a property must be exposed (marketed) to the entire market to find the best buyer.
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I’m excited to announce that after 18 years of providing dedicated service, our clients have collectively saved over $10,000,000 in commissions! Among these savings are over $1,100,000 for clients who found unrepresented buyers and were able to avoid any selling costs. On top of that, we’ve distributed more than $330,000 in incentive rebates to over 100 satisfied buyers. These remarkable achievements are a true testament to our commitment to providing high-quality, cost-effective real estate services to our clients.Tod G. Franklin – Realtor®, Broker, Owner, and multi-million dollar producer at DFWCityhomes
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DFWCityhomes is an established and highly regarded Flat Fee MLS Listing Service company in Texas. We have been providing dedicated service for almost two decades delivering personalized service to each client. As the best Flat Fee MLS Listing Service in Texas, we offer affordable and excellent service, while our track record showcases our commitment to professionalism, integrity, and customer satisfaction.