Data suggests marketing properties as “Coming Soon” before listing them active in the MLS can provide benefits to both sellers and buyers.
For sellers, marketing a home as “Coming Soon” can lead to a reduced number of days on the market and possibly a higher sales price. “Coming Soon” generates buzz just as some of the world’s largest brands expertly market the release of their latest products. A seller may have the opportunity to gauge buyer interest before the home is converted to “Active” on the MLS.
Buyers can benefit by being the first to know about new listings coming available. In a market area where homes sell quickly and inventory is low, buyers can coordinate their schedules in advance while the home is “Coming Soon” and schedule a time to see the home as soon as it is “Active.” Also, buyers will have more time to discuss the financial particulars with their lender and address any questions and/or potential concerns with their contractors, home inspectors or the county regarding land restrictions, property taxes, etc. before viewing the property.
Handled correctly, a 'Coming Soon' listing can work to everyone's benefit!
*Note- Long periods of time listed as “Coming Soon” can cause buyers to lose interest and can be counter productive.