Have you ever encountered a “Coming Soon” listing during your home search?
Whether you have or this is your first time hearing this term, allow me to explain. When a home is described as a Coming Soon listing, this means that the seller has begun marketing their property prior to listing it on the MLS.
Sellers may choose this option if they still need time to declutter, update, or clean the home, or simply because they want to generate interest.
This marketing technique is fairly new, having come into popular use sometime last autumn, and is most definitely a result of recent low inventory.
Of course, sellers should realize that marketing your home this way will only reach around 10% of prospective buyers. A full MLS listing allows you to achieve a more far-reaching level of exposure for your property.
Listing your home as Coming Soon can be a good strategy, but it isn’t the best option for getting ideal terms and netting top dollar. The likelihood of striking a better deal is much more likely when you reach a broader portion of the market.
If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.