Coming Soon listings

 

The Coming Soon status is a great way to premarket your listing before it is actually available for sale. It allows you to generate some buzz about your listing before it actually hits the market. It also enables buyer's agents to get a sneak peek of what's coming on the market that might interest their clients.

That being said, there are some very specific rules surrounding Coming Soon listings that must be followed:

  • You must have a valid, fully executed listing agreement.
  • You must have your seller sign the SmartMLS Coming Soon Addendum, which can be found in the Listing Forms section of the SmartMLS website or within the TransactionDesk program.
  • The Go Live date (also known as the Expected Active Date) determined by you and the seller must be included on the listing in Matrix.
  • The Go Live date (Expected Active Date) must be within 14 days of the date the listing was entered in Matrix.
  • Note: The Go Live date CANNOT be shortened once the listing is entered as a Coming Soon in Matrix
  • The signed SmartMLS Coming Soon Addendum must be uploaded as a supplement in Matrix (to the Coming Soon Supplement Type). It should be uploaded as a separate private document (not attached to the listing agreement or any other document).
  • Both the Coming Soon Addendum and the Listing Agreement/Listing Agreement Compliance Certification must be uploaded to the listing before the system will allow you to save the listing as Coming Soon. These forms must be uploaded while the listing is still in the INC status.
  • Be careful not to leave the listing as Incomplete. The listing must be Coming Soon in the system to be compliant and allow you to market the property.
  • If you extend the original EAD, you must get a new copy of the Coming Soon Addendum (with the new date) signed by the seller and uploaded to the listing (replace the original Coming Soon Addendum).
  • Make sure you are not in the listing in Add/Edit around midnight of the expected active date. If you have the listing locked in Add/Edit, Matrix will not be able to run the procedure that switches it from Coming Soon to Active (at which point you will need to contact SmartMLS staff so we can manually switch it to Active).
  • Days on Market (DOM) for Coming Soon listings starts accruing on the Go Live date.
  • An exterior photo of the property must be uploaded.
  • It is permissible to place a sign on a Coming Soon listing, but the listing must first be uploaded to the MLS as Coming Soon before the sign can be installed. If the sign is installed before the listing has been entered into the system, it is the responsibility of the list agent to remove the placard or cover the sign so that no agent or office information is visible.
  • The listing CANNOT be shown during the coming soon period.
  • No open houses (Broker or Public) are permitted during the coming soon period.
  • The listing must be available to show upon when it is made Active. Same day showings must be allowed.
  • No offers can be presented during the coming soon period.
  • Cancelling a Coming Soon listing and relisting it as Active prior to the activation date on the listing will result in an automatic fine.
  • The following actions violate the Coming Soon rules and are subject to fines:
    • Entry of a Coming Soon listing without a valid listing contract.
    • Showing a Coming Soon listing before the Go-Active Date.
    • Cancellation of a Coming Soon listing and relisting it as active prior to the Go-Active Date on the listing.
    • Use of the Coming Soon status more than once on any property by any one Firm (a second Coming Soon status with the same Firm can only occur after the property has been off the market for ninety (90) days).
  • These fields are restricted in the following ways:
    • Listing Date - cannot be changed once the listing has been saved.
    • Expiration Date - cannot be shortened once the listing has been saved.
    • Go Active Date - can be extended to a maximum of 14 days, but cannot be shortened once the listing has been saved.
  • Coming Soon listings are fed to Broker/Agent IDX sites and Realtor.com.
  • Coming Soon listings can be included in Auto Emails.
  • Here is a very brief video about Coming Soon listings that may be helpful.
  • Click here to access the SmartMLS Rules and Regulations. Please refer to Article 4, Section 4.26 for more information on Coming Soon listings and the Fine Table.

 

 

Related articles:

Coming Soon Addendum

Cannot save listing as Coming Soon

 

 

 
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