We have all seen it, the new ploy listing agents are using to sell homes in a hotter market, The “Coming Soon” sign! As a home seller are you possibly being shortchanged by this practice? The fact is, you are.
When a listing agent convinces you to keep your property off of the Market and MLS for a period of time in the “coming soon” status he is actually asking you to NOT fully market your home so that he or she might have the chance of double ending the deal and doubling the commission he or she receives. So the agent wins using this practice, but how does the home seller?
The other issue is that many MLS services, Sacramento MLS included, makes you count the days your home is “on market” during the coming soon period. So if your listing agent or broker has your home as “coming soon” for two weeks, the moment it then goes on the MLS it will show that your home has been 14 days on the market. So every buyer’s agent looking to show and make an offer on your home, and their buyer, will think that your home has gone 14 days on the market without an offer. In their mind it will now be time to make a lower offer on your home!
So not only has your property NOT been fully marketed, except for maybe on Zillow, for all the time it is in the “coming soon” status, it is now going to attract lower offers when it finally does go on the MLS. How does this profit you the home seller? It doesn’t, it only truly profits the listing agent.
Please don’t fall for this practice, demand that your listing agent fully market your home on the MLS from day 1 of your listing. This will guarantee that your home will be seen by the greatest number of possible buyer’s and that there may be multiple offers on your property driving the sales price higher.
Benefit yourself, only hire an agent/broker with integrity and who is out to make you profit the most.
Craig J Townsend
BRE lic# 01096350
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