This regularly-scheduled sponsored Q&A column is written by Will Wiard, Arlington-based real estate broker, voted one of Washington’s Best Realtors of 2015 by Washingtonian. Please submit your questions via email.
Q: I’m interested in selling my home and have heard that “coming soon” listings can be a good pre-market strategy. How can this benefit my sale?
A: A coming soon listing allows the seller to reach buyer agents early so they can review the property details before it hits the market. Generally, an agent can list a property under coming soon status on the Multiple Listing Service (MLS) up to 21 days before it becomes active.
Posting a listing under coming soon status is only available to be viewed and shared by MLS subscribers, who are typically real estate agents and brokers, unless a listing agent proactively adds it separately to another public-facing site. Unlike active listings, it does not automatically pull through from the MLS to other these other sites.
This early listing can benefit sellers who are still prepping the property for sale because it allows buyer agents to share information on a listing with clients before it hits the market. It can spark the conversation early for potential buyers and allow them to plan their offer if the property meets their preferences.
Further, the listing does not show days on market until the property changes to active status, which can help avoid the potential negative perception that the property has been sitting on the market with no activity.
Thank you for this week’s question. Please keep them coming to [email protected]. This is also a great place to reach me for anyone looking to buy or sell a home in the Arlington area.
The views and opinions expressed in the column are those of the author and do not necessarily reflect the views of ARLnow.com.