It might seem like a no-brainer, that a “Coming Soon,” real estate listing means that you can see some photos and videos of a property before it goes on the market and then later, you can get in to look at it. It’s like a little sneak peek. But it’s more than that, because offers can go through on the home when it’s in the Coming Soon status! What does that mean for you?
If you are a SELLER….
An agent or yourself cannot let anyone inside the home to view it. However, you can receive AND ACCEPT offers. This may be tempting, but before you do so, you should know that you may be missing out on even better offers if you wait and let it go to the market for at least a couple of days. You must review any offers that come in, but you don’t have to accept them until after the property is listed.
If you are a BUYER…..
You should be aware that a home you see in ‘Coming Soon,’ could be sold before you can even get in to see it. Before you start shopping for a property, get all of your ‘ducks in a row,’ as far as pre-approval, down payment, and how comfortable you would be buying a property without walking into it. It’s becoming more and more common in these times of low inventory. If you feel uncomfortable doing that, then you need to prepare yourself that someone may beat you to the purchase, and it will go straight from ‘Coming Soon’ to ‘Pending’ before you can step foot inside. This can be very shocking and upsetting to potential buyers. If this happens – keep in mind that the “Coming Soon” system is not your realtor’s fault!