IS IT IN THE SELLER’S BEST INTEREST?
Real estate agents are increasingly using a device common in movie theatres, the coming-soon sign.
This can be used to whip up excitement about a house that will be available after the walls are painted and carpets replaced. However, I believe that some agents are using this tactic for another purpose: withholding a house from the open market while forcing potential buyers to call them. This can generate new leads for the listing agent or even resulting in them selling their own listing, before it goes on the open market.
This may not be in the seller’s best interest or fetch the highest price. A new listing on the open market will have more impact and get the best offers when its immediately available for showings.
I’ve always been an advocate of the MLS system and full cooperation with brokers/agents. My feeling is this. If someone employs me to list and market their property, I owe them a fiduciary duty to represent their interests above all else. That being said, when a listing is signed, I process it on MLS and allow all realtors access to my listing in an attempt to get my clients the highest and best offer. It’s the right thing to do.
So if you’re considering selling or pre-marketing your home with a coming soon sign, you may want to reconsider.