The Coming Soon status is a great way to premarket your listing before it is actually available for sale. It allows you to generate some buzz about your listing before it actually hits the market. It also enables buyer's agents to get a sneak peek of what's coming on the market that might interest their clients.
That being said, there are some very specific rules surrounding Coming Soon listings that must be followed:
- You must have a valid, fully executed listing agreement.
- You must have your seller sign the SmartMLS Coming Soon Addendum, which can be found in the Listing Forms or Coming Soon sections of the SmartMLS website.
- The Go Live date (Expected Active Date) determined by you and the seller must be included on the listing in Matrix.
- The Go Live date (Expected Active Date) must be within 14 days of the date the listing was entered in Matrix.
- Note: The Go Live date CANNOT be shortened once the listing is entered as a Coming Soon in Matrix
- The signed SmartMLS Coming Soon Addendum must be uploaded as a supplement in Matrix (to the Coming Soon Supplement Type). It should be uploaded as a separate private document (not attached to the listing agreement or any other document).
- The Coming Soon Addendum must be uploaded to the listing before Matrix will allow you to save the listing as Coming Soon. It must be uploaded while the listing is still in the INC status.
- If you extend the original EAD, you must get a new copy of the Coming Soon Addendum (with the new date) signed by the seller and uploaded to the listing (replace the original Coming Soon Addendum).
- Make sure you are not in the listing in Add/Edit around midnight of the expected active date. If you have the listing locked in Add/Edit, Matrix will not be able to run the procedure that switches it from Coming Soon to Active (at which point you will need to contact SmartMLS staff so we can manually switch it to Active).
- Days on Market (DOM) for Coming Soon listings starts accruing on the Go Live date.
- An exterior photo of the property must be uploaded.
- The listing CANNOT be shown during the coming soon period.
- No open houses (Broker or Public) are permitted.
- The listing must be available to show upon when it is made Active.
- No offers can be presented during the coming soon period.
- Cancelling a Coming Soon listing and relisting it as active prior to the activation date on the listing will result in an automatic fine.
- These fields are restricted in the following ways:
- Listing Date- cannot be changed once the listing has been saved.
- Expiration Date- cannot be shortened once the listing has been saved.
- Go Active Date- can be extended to a maximum of 14 days, but cannot be shortened once the listing has been saved.
- Coming Soon listings are fed to Broker/Agent IDX sites and Realtor.com.
- Coming Soon listings will appear on Homesnap, as it is the mobile app of the MLS. Agents logged into Homesnap Pro will see Coming Soon listings- consumers will also see Coming Soon listings in their basic version of Homesnap.
- Coming Soon listings can be included in Auto Emails.
- Here is a very brief video about Coming Soon listings that may be helpful.