**Title: Understanding ‘Coming Soon’ Real Estate Listings: A Comprehensive Guide for Buyers and Sellers**
**Introduction**
Whether youre buying or selling a home, you might encounter the term coming soon. This real estate practice is hotly debated among REALTORS®. Some claim its beneficial for select clients, while others argue it puts sellers at a disadvantage. In this article, well explore what coming soon real estate listings are, how they differ from pocket listings, and the pros and cons for both buyers and sellers.
**What Are Coming Soon Real Estate Listings?**
A coming soon real estate listing indicates that the house isnt officially on the market yet but will be available for sale within the next 30 days. You might see these listings on websites that allow certain agents or brokerages to create them. Additionally, you might notice a coming soon sign when driving around your target neighborhood.
**Coming Soon Vs. Pocket Listings**
At first glance, a coming soon listing might seem similar to a pocket listing, which is an off-market listing targeting a select, smaller group of potential buyers. Pocket listings are shown only through the sellers private network. In contrast, coming soon listings can be found on a multiple listing service (MLS) at some point in the sale process.
**The Home Buyers Guide To Coming Soon Listings**
As a home buyer, a coming soon listing comes with advantages and disadvantages. Below, we explore both sides and provide tips on how to buy a coming soon listing.
**Advantages Of Buying A Coming Soon Home**
1. **Less Competition**: The limited reach of a coming soon sign can lead to less competition, giving you a chance to make an offer before anyone else.
2. **More Time to Prepare**: Before the home hits the market, you have time to plan your offer and gather the necessary funds.
**Drawbacks Of Buying A Coming Soon Home**
1. **Potential of Dual Agency**: Dual agency occurs when a single real estate agent represents both the buyer and the seller. This is more common with coming soon listings and can make it challenging for the agent to act in your best interests.
2. **Pressure to Make an Offer**: With fewer people knowing about the home, the seller might pressure you to make an offer with limited room for negotiation.
**Tips For Buying A Coming Soon Home**
1. **Enlist The Help Of A Buyers Agent**: A buyers agent will focus on your best interests and help you navigate the process.
2. **Make A Good Offer**: With limited competition, a strong offer might create a smooth process. Your buyers agent can help you write a compelling offer.
3. **Get Your Finances In Order**: Consider getting initial approval for a mortgage before making your offer.
**The Home Sellers Guide To Coming Soon Listings**
As a seller, youll likely get advice from your real estate agent, but you need to weigh the pros and cons of selling a coming soon home to determine if this option is right for you.
**Advantages Of Selling A Coming Soon Home**
1. **More Time to Prepare**: You can prepare your home for sale through staging or completing home improvements.
2. **More Privacy**: A coming soon listing allows you to show the home within a limited network.
3. **Fewer Walk-Throughs**: Fewer people will know about the house, leading to fewer walk-through requests.
4. **Market Feel**: If you get a lot of interest, you might opt for a higher asking price.
5. **Buyer Interest**: Buyers can start considering your house before it hits the market.
6. **Strong Offers**: Buyers have more time to pull together funds for a strong offer.
7. **Potential Discount**: Some agents offer a discount if the home sells before going on the market.
**Drawbacks Of Selling A Coming Soon Home**
1. **Less Exposure**: A coming soon home wont get as much exposure as regular listings on the MLS.
2. **Not Listed at Market Value**: Its often difficult to determine the true value of the home with limited market exposure.
3. **Potential of Dual Agency**: Your agent might also represent the buyer, which cant put your needs first.
**Tips For Selling A Coming Soon Home**
1. **Find A Trustworthy Real Estate Agent**: Ensure they keep your best interests at heart.
2. **Understand Local Guidelines**: Confirm that your agent follows local regulations.
3. **Assess Buyer Feedback**: Pay attention to feedback and make necessary fixes before the official listing.
4. **Evaluate If Its Right For You**: Determine if a coming soon listing is the best choice for your situation.
**Coming Soon Real Estate FAQs**
1. **Where can I find coming soon real estate listings?**
– You can find them by driving around your target neighborhood or online. A buyers agent might also help you find these listings through their network.
2. **Can I make an offer on a new coming soon listing?**
– Yes, you can make an offer even if the property isnt available for showings until it officially hits the market.
3. **Why do real estate agents use coming soon listings?**
– Agents use them to give the seller more time to complete repairs, prepare the home for showing, or pack to move. Its an advertising strategy to generate interest before the property officially hits the market.
**The Bottom Line**
A coming soon real estate listing has advantages and disadvantages for both buyers and sellers. As a seller, its crucial to understand the details before moving forward. Buyers considering a coming soon listing might prefer to work with a buyers agent to ensure their best interests are taken care of.
If youre ready to purchase a home, start the mortgage approval process today with O1ne Mortgage Inc. Visit [O1ne Mortgage Inc.](https://o1nemortgage.com) to request a mortgage quote, apply for a loan, or speak with a representative. You can also call us at 888-372-8820.
**Keywords:** coming soon real estate listings, buying a home, selling a home, real estate tips, O1ne Mortgage Inc., mortgage approval, real estate agent, dual agency, home buying tips, home selling tips
