There are many times where your seller signs a listing agreement with you but their property is not going to be ready to go live on the MLS within 48 hours (which is required in traditional listing situations). This is the precise reason we created the Delayed Listing scenario (and Addendum). One of the key benefits of the Delayed Listing is that the actual Go Live Date is fluid- it can be adjusted, as necessary, until the listing is MLS-ready. As is the case with traditional listings, no one will know about the listing until you save it as Active in Matrix.
But what if you wanted to generate some buzz about the listing right before it hits the market? There is no marketing allowed during the Delayed period because the listing is not on the market yet.
Did you know that it is perfectly permissible for you to have a Delayed Listing that goes onto the MLS as Coming Soon prior to it becoming Active? As long as you follow the rules surrounding both scenarios and have the correct paperwork in order, you can accomplish this!
As an example, we have a listing that will be Delayed and Coming Soon before becoming an Active listing in the MLS. The executed listing agreement is signed on 7/1, but the listing will be delayed until the property is listed as Coming Soon on 7/14. The listing will then convert from Coming Soon to Active on 7/23.
When you sign the listing agreement with the seller(s), the start date on the Listing Agreement is 7/1. At the same time, if there is a field for it on the agreement, you can also enter the delayed date of 7/14. Otherwise, you will also need to have a Delayed Listing Addendum executed with the seller(s) that denotes the listing will be delayed until 7/14. And finally, you will also need to have an executed Coming Soon Addendum that states the coming soon period will be from 7/14 to 7/23.
You can start by entering the listing in Matrix anytime you want- just save it as INC.
While the listing is still INC, you should upload all the necessary paperwork in Manage Supplements, that way you're ready to save it as Coming Soon when the time comes:
- Listing Agreement or Listing Agreement Compliance Certification= Private- Listing Contract/Compliance Form .
- Delayed Listing Addendum= Private- MISC . (only necessary if there is not a separate field for this information on your listing agreement).
- Coming Soon Addendum= Private- Coming Soon Addendum . This paperwork is required to be uploaded before Matrix will allow you to save the listing as Coming Soon.
On 7/14, when you save the listing as Coming Soon in Matrix:
- the List Date= 7/14.
- the Expected Active Date (also known as Go Active Date )= 7/23.
Both the Delayed Listing and Coming Soon addendums are attached to this article. As mentioned earlier in this article, the Delayed Listing Addendum is not required if there is a separate field on your listing agreement that denotes the delayed information. The Coming Soon Addendum is required either way.
Related articles :