What the Heck is a “Coming Soon” Home?

There are reasons to pursue a Coming Soon home for sale listing in Sacramento.

There are pros and cons to a Coming Soon home for sale, which you’ve probably noticed around Sacramento. You might have wondered what they are. Perhaps you’ve spotted a sign in front of a home that looks like it might be for sale but the rider on top of the sign post reads: “Coming Soon.” Or, maybe you’ve seen it as a type of off-market listing in Zillow that promotes it as Coming Soon, and it’s not yet in any online MLS system that you can find. What’s the deal? And further, what’s the point if you can’t buy it?

The best thing a buyer can do is ask her buyer’s agent to follow up with the listing agent. Now, I realize some listing agents in Sacramento routinely try to position new listings in such a way that buyers will call the listing agent directly, which allows the listing agent to double-end the commission — what is known as dual representation — by locking out all other agents. It’s a reason we contend with pocket listings, for example, and how sellers can potentially lose out on all of the benefits of mass marketing; we mourn for them the lost opportunities due to reducing exposure to the largest pool of buyers through a pocket listing.

That’s never been the method of operation nor intent of this Sacramento Realtor. My goal is to treat all agents fairly. In fact, I prefer that buyers hire a buyer’s agent instead of trying to deal with me directly. This way I can focus on my seller’s needs and not feel torn nor conflicted; my vision is clear.

While a listing agent cannot show a home that is in Coming Soon status nor solicit purchase offers while it is not yet on the market, agents have always been permitted to network with other real estate agents. I use this opportunity to network with other agents. The Coming Soon listings in Zillow typically contain an on market date.

If I’m working on a Coming Soon home listing, I let buyer’s agents know that they can show the home when it comes on the market. In fact, they can be first, if they like, but in a market with limited inventory and high demand like our present Sacramento real estate market, we will likely hold an open house on Sunday after the home hits the market. It only makes sense from a seller’s perspective to give the home a few days on market and to promote the open house before entertaining purchase offers. But it doesn’t mean a buyer who spots a Coming Soon listing can’t prepare a strategy with his or her own buyer’s agent and end up the winning recipient.

Home buyers definitely can get an edge over multiple offers by following a simple strategy.

Coming Soon home listings generate excitement. That approach also gives buyers a little bit of advance notice that a home is coming on the market. It stops the feeling of agony some buyers experience when a home pops up on the market and less than 24 hours later is in pending status, before a buyer has even noticed the home was for sale.