You’ve probably seen a few listings in your neighborhood with a “coming soon” sign in the front yard. What does this mean if you’re a buyer?
Basically, this means the house is coming to the market, but it’s not there yet, and the seller isn’t showing the house to the general public. It may or may not be on the MLS, but I personally use “coming soon” listings as part of my pre-marketing strategy, which means it’s not on the MLS.
When I say these homes aren’t available for viewing, that’s usually a hard NO. There are lots of reasons why the seller wouldn’t want anyone to come into their house just yet, but sometimes they aren’t so adamant about not letting buyers in. Like I said, when I use these homes as part of my pre-marketing strategy, I still list them on Zillow, Trulia, etc, just to test the market.
So what should you do in case you spot a dream home which is “coming soon” but is not on the market yet? Well, here’s a three-step process I recommend:
1. Control your excitement. It may be the perfect house in the perfect neighborhood, but remember that it’s not currently available, and there’s a reason for that.
2. Do your research. Because it’s not on the market yet, you have extra time to do this. Make sure the neighborhood is what you want and there’s nothing about the home that constitutes a dealbreaker.
3. If you conclude it makes sense, make an early offer. We’re in a tough buyer’s market, so it might be worth it to approach the listing agent and inquire about making an early offer. If you submit an early offer, keep in mind that the seller probably won’t respect your timeline as far as a reply goes, so don’t be upset or nervous if it’s not accepted right away. Just make sure your agent stays in touch with them. They may be unwilling to entertain an offer yet because they don’t know what the fair market value is.
If you really want to see the house, the best thing you can do is reach out to your agent, notify them of the address, and let them do their job. If we can’t get you into the home, we can at least provide you with information about it.
If you’re a seller, is advertising your home as “coming soon” the right strategy? I think it’s a fantastic strategy for our current market, so don’t hesitate to reach out to me so I can tell you more about how we utilize this and other strategies to get our clients top dollar with the least amount of hassle.
If you have any more questions about this topic or have any other real estate needs I can assist you with, feel free to give me a call, send me an email, or leave a message in the comment section. I look forward to hearing from you.