Pros and Cons of Coming Soon Marketing

Due to low inventory levels, Coming Soon marketing for homes that haven’t hit the market yet is becoming more and more popular.  It gives a homeowner the opportunity to build up interest in their property before it hits the market on the MLS.  There are a lot of terms floating around the real estate world about listings that haven’t hit the market yet!  What is the difference between Delayed status, Pocket and Coming Soon listings?

Delayed Status Listings

In July of 2018, the Arizona Regional Multiple Listing Service (ARMLS) added the Delayed status for residential listings.  A property can be listed on the MLS for up to 14 days prior to going Active by using the Delayed status.  The listing agent actually goes into the MLS system and adds a listing like they normally would, only they use the Delayed status instead of Active.  All of the property’s information, including the upcoming list price, is included on the MLS.  Please note:

  • No showings are allowed until the property goes Active on the MLS (even by the listing agent)
  • Delayed listings are not syndicated to other websites or home search tools
  • A sales price will be shown
  • Your address will appear
  • Days on Market does not accumulate until the listing is changed to Active on the MLS
  • On the 15th day the property automatically changes status to Active and showings begin

Pocket Listings vs Delayed Status Listings

For Realtors, the term Delayed status is now used differently than the term Pocket Listing.  A Delayed Status listing has been added to the MLS, while a pocket listing has not.  Here’s some more information about Pocket Listings:

  • Agents and sellers expose or advertise the house to whom they choose
  • Showings can occur before the property is active on the MLS
  • Properties can be syndicated to other websites
  • Pocket listings have limited exposure

Coming Soon Marketing

Coming Soon has become more of a term for marketing properties that have not hit the market yet.  Coming Soon marketing can be used for Delayed Status Listings (listed on the MLS) as well as Pocket Listings (not listed on the MLS).

Unless a seller requests otherwise, I usually do not use the Delayed Status on the MLS, instead I utilize Coming Soon marketing to start advertising online before your target Active date on the MLS.  Your house will be added to various social media and real estate websites.  I also spark interest through direct mail to your neighborhood.  In addition, I reach out to potential buyers in my database that are looking for a home similar to yours.

When you use the Delayed Status you are revealing your list price to other sellers that are getting ready to list their property for sale, i.e., the competition.   By letting them know your sales price, you may help them price their property and cause theirs to sell first.

Please note that I always suggest to sellers to hold off on responding to all requests for showings, as well as all offers during the Coming Soon marketing period.  Once your property is Active on the MLS you are getting the maximum exposure so you can ensure that most likely a better offer isn’t out there.  It’s my obligation as your Realtor to get you the absolute best terms and conditions and the Coming Soon advertising period alone does not provide maximum exposure, it’s essential to have your property on the MLS to be in front of the most amount of potential buyers.  Our goal with Coming Soon marketing is to stir up some interest so we can have more showings your first weekend on the market.

If you have any questions about Coming Soon marketing, Delayed Status listings or Pocket listings please feel free to contact me.  My goal is to help you sell your home and experience success with less stress!

Even if you are months out from selling your home, it’s time for us to have a conversation.  I can help you get a game plan together for getting your house ready for the market, priced right and in front of the most people.  Simply fill out the form below.  I look forward to hearing from you!

 

Posted on July 29, 2019 at 7:44 pm
Cinda Rose | Category: Selling Your Home

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