Should you use coming soon to market your listing?
Here is what you need to know!
Now that Calgary has moved into a very strong Sellers’ market we are seeing “Coming Soon” listings everywhere. A coming soon listing advertises your listing prior to it going live on the MLS System for the public to view.
Here is my opinion on Coming Soon Listings.
From a Sellers Perspective:
As a Seller, you want to maximize the exposure to your listing so coming soon is certainly a smart way to do that, but hold on. What I am seeing in the marketplace is coming soon listings are being marketed with a sign on your lawn, on Social Media, and most importantly through interoffice communication. Here is where the problem starts. Most activity is being created through internal office communication. The buyer’s Realtor always wants to get in before the general public and so a showing is arranged, often that buyer writes a strong offer and the Seller accepts the offer as it’s a quick sale. So, looking at this process, how much exposure did this listing get – 1 showing, yes almost no exposure. Will the seller get top dollar using this strategy – most likely not.
Using Coming Soon to your advantage: Again in my opinion using “Coming Soon” is a fantastic marketing tool and should be used. It should be used to attract attention and get people excited about viewing your home. The key to doing this effectively is to collect names of people interested and let them know the minute it goes on the market, while still giving the general public the opportunity to view your home before you accept any offers. This will maximize the exposure to your listing and get you top dollar for your home.
A Buyer’s Perspective: If you are buying a home then use the “Coming Soon” listings to your advantage, if you can get in before everyone else you will not only get your home but you may not have to compete with several other buyers. A word of caution, make sure your Realtor does a comparative market analysis on the property so you don’t get too excited about a home that is substantially overpriced.
If you are considering Selling, reach out to us for a free consultation