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Old 02-19-2016, 08:25 AM
 
Location: Dallas
424 posts, read 666,024 times
Reputation: 257

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We're going to be listing our house in the next couple of months and our realtor wants to put a "Coming Soon" sign out for a week or so before putting it on the MLS.

I think this is an interesting strategy, but I'm concerned that it may not work well for us bc our house isn't off a busy road. It's inside the subdivision, but off one of the main streets that take you into the neighborhood.

How much exposure can my house REALLY get? I do plan to post it on my HOA's FB group, but otherwise I'm at a loss. Any thoughts?
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Old 02-19-2016, 08:51 AM
Status: "Made the Retirement Run in under 12 parsecs!!!" (set 16 days ago)
 
Location: Cary, NC
43,161 posts, read 76,761,493 times
Reputation: 45518
Quote:
Originally Posted by vansgirl View Post
We're going to be listing our house in the next couple of months and our realtor wants to put a "Coming Soon" sign out for a week or so before putting it on the MLS.

I think this is an interesting strategy, but I'm concerned that it may not work well for us bc our house isn't off a busy road. It's inside the subdivision, but off one of the main streets that take you into the neighborhood.

How much exposure can my house REALLY get? I do plan to post it on my HOA's FB group, but otherwise I'm at a loss. Any thoughts?
The value really depends on how Coming Soon is typically handled locally.


Will it be on the local MLS as a Coming Soon until it goes Active?
And, will the agent do other advertising?
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Old 02-19-2016, 09:03 AM
 
Location: Austin
7,244 posts, read 21,745,022 times
Reputation: 10014
Are you wanting the one buyer who sees it before it hits the MLS, or do you want the masses to see it so you can potentially get multiple offers and over asking price? I'm not sure where in Dallas you are, but in the right area with the right price, you'll possibly get multiples so a coming soon isn't going to help if you just plan on waiting to see what offers come in. The coming soon would help if you just want to accept the first offer that comes in, as it will probably be "just" asking price with no one else to compete with.
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Old 02-19-2016, 10:47 AM
 
Location: Dallas
424 posts, read 666,024 times
Reputation: 257
So the idea is to try to get a sale without another realtor involved (more money in my pocket). If that doesn't pan out, at least we've gotten several potential buyers with realtors interested.
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Old 02-19-2016, 11:33 AM
 
Location: Bloomington IN
8,590 posts, read 12,277,248 times
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Quote:
Originally Posted by vansgirl View Post
So the idea is to try to get a sale without another realtor involved (more money in my pocket). If that doesn't pan out, at least we've gotten several potential buyers with realtors interested.
Unless your listing contract states that the commission will be lower if there is only a single (your) agent involved, it won't make any difference in how much you pay.
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Old 02-19-2016, 11:40 AM
 
12,016 posts, read 12,682,406 times
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You want people ringing your doorbell?
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Old 02-19-2016, 11:44 AM
Status: "Made the Retirement Run in under 12 parsecs!!!" (set 16 days ago)
 
Location: Cary, NC
43,161 posts, read 76,761,493 times
Reputation: 45518
Quote:
Originally Posted by vansgirl View Post
So the idea is to try to get a sale without another realtor involved (more money in my pocket). If that doesn't pan out, at least we've gotten several potential buyers with realtors interested.
There are a lot of ways to play the Coming Soon game. Some benefit the consumer, some the agent, and some work for both parties.
YOUR agent should tell you exactly what the strategy and plan are, and how it will benefit you.
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Old 02-19-2016, 12:16 PM
 
Location: Dallas
424 posts, read 666,024 times
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Okay, thanks for the feedback. I've never heard of it before so thought I'd ask.
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Old 02-19-2016, 12:38 PM
 
Location: Fort Lauderdale, Florida
11,936 posts, read 13,043,528 times
Reputation: 27078
Quote:
Originally Posted by vansgirl View Post
So the idea is to try to get a sale without another realtor involved (more money in my pocket). If that doesn't pan out, at least we've gotten several potential buyers with realtors interested.
How is that more money?

If the listing is 3% to each, your realtor then gets 6%.
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Old 02-20-2016, 11:29 AM
 
Location: Georgia
4,578 posts, read 5,638,841 times
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MikeJaquish is right -- a "coming soon" should be part of a thought-out strategy, not a whim. Technically, in our market area, we aren't permitted to use "coming soon" signs -- either it's listed, or it's not. It's becoming more and more frequent, though.

In a seller's market where the inventory is low, it does whip up excitement among buyers. Buyers cruise desirable neighborhoods -- "coming soon" is like catnip. You have agents calling, frantic to be "the first" to get in and get their clients a foot in the door. There's not much difference between a "coming soon" sign and an agent standing up in front of their office's weekly meeting and saying, "Hey, I've got a great listing in Quail Grouse Run that's coming on the market next Friday!" If it's a desirable neighborhood, then you can bet that agent is going to be swamped after the meeting.

At that point, we find that we get better results if we stand firm on a listing date and make appointments for the first day it's listed. One home around here basically had an all-day open house on their first listing day, from 9 AM to 6 pm, and ended up with six offers by the next morning. There was a lot of buzz about the house, and people were going in and out all day long -- at one point, there was almost 20 people viewing the house at the same time, so people knew that they better bring their A Game to the table, and not bother with lowball offers.

As a seller, I would push for maximum exposure via the MLS instead of just taking the first offer that came along. While it might be a little fun to say, "Oh, OUR house was so desirable that it sold before we could even list it!", I think that if it's a desirable home, the seller is going to come out better in the long run if it is actually listed.
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