Wednesday, May 2, 2012

Coming Soon Listings

So some of you have been asking about coming soon signs and how the administrative part of that works.  There have been a number of "I've heard's" and "So and so said's" out there and I want to set the record straight.  I have some experience with that so Kevin gave me the go ahead to put it here for you.

TMLS affords agents the opportunity to list a house and never enter it in the MLS.  Every once in a while a seller doesn't want to have their property in MLS and the first thing you should do is turn around and don't let it hit in you in the ass on the way out.  For those situations TMLS created a "Withhold Listing from Triangle MLS" form.  This form can also be used for a listing that may be "Coming Soon". 

If a listing has a sign in the yard then it must be in TMLS within 2 business days UNLESS you fill out the aforementioned Withhold Listing from Triangle MLS form.  This form must be submitted to TMLS by e-mailing Letitia Pennington at letitiap@trianglemls.com.  Once the form has been sent to Letitia then you can place a "Coming Soon" sign and do your thing.  There is no limit to how long a listing can be "Coming Soon".

Why a "Coming Soon" sign?  If a seller has secured your services and will be making repairs and upgrades for a few weeks, then why not put a sign in the yard and let everyone know about it in advance?  The benefit to you is added exposure in the neighborhood.  The benefit to the seller is it starts getting the word out to their neighbors and friends.  The benefit to other agents is they can try and sell the house before the entire world knows about it.  Wouldn't it be cool to sell the property before it even goes on the market?  What would 0 days on the market do to your personal average?

The Withhold listing document will be shared with everyone on Google docs and in Yammer.