A
Delayed Listing
is when a property is under an executed Listing Agreement with the seller but is not ready to be on the market. The seller wants to take full advantage of the exposure provided by the MLS’s 20,000+ Real Estate Professionals and their clients, but recognizes that their property is not going to be ready for market within 48 hours of executing the Listing Agreement. The seller and the listing agent determine a Go Active Date for the property (when it will be added to SmartMLS as an Active listing). Additionally, the seller agrees there will be no marketing of the property until the Go Active date and instructs their agent not to submit any offers to them until the Go Active Date. The Go Active Date can be adjusted as necessary by the seller and the listing agent.
Market Time/Days on Market (DOM) begins on the Go Active date.
To comply with the rules surrounding Delayed Listings, you must do one of the following:
- complete a SmartMLS Delayed Listing Form ; OR
- enter the Go Active Date on the latest version of the SmartMLS Exclusive Right to Sell or Exclusive Agency listing contract.
You do not need to do both of these things. Just choose one or the other.
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Coming Soon Listings allow for a property to be marketed prior to it being an Active listing on the MLS. The Coming Soon status 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 or Coming Soon sections of the SmartMLS website.
- The Go Live date (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).
- The Coming Soon Addendum must be uploaded to the listing before Matrix will allow you to save the listing as Coming Soon. It must be uploaded while the listing is still in the INC status.
- 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.
- The listing CANNOT be shown during the coming soon period.
- No open houses (Broker or Public) are permitted.
- The listing must be available to show upon when it is made Active.
- 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.
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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 will appear on Homesnap, as it is the mobile app of the MLS. Agents logged into Homesnap Pro will see Coming Soon listings- consumers will also see Coming Soon listings in their basic version of Homesnap.
- Coming Soon listings can be included in Auto Emails.
- Here is a very brief video about Coming Soon listings that may be helpful.
You can easily have a listing that starts as a Delayed Listing and changes to a Coming Soon Listing before finally becoming Active.
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