Let’s face it, being a buyer in today’s market is tough. There is stiff competition for the best homes and most buyers will inevitably be involved in bidding wars. Some will have to bid thousands (if not tens of thousands) of dollars over asking price. Some will waive contingencies that seem standard such as the home inspection or financing contingency. The winning offers may be from buyers who bid well above asking price and waive contingencies.
If that is enough to make you shrug your shoulders and consider the rental market, there is hope. In your searches, you may have noticed a status called “Coming Soon.” These listings are golden opportunities to be among the first in the door before the general market. Being first, or among the first, comes with several perks: more time to consider what life will be like in the home, a less frenzied atmosphere and, of course, the opportunity to secure a home without all that competition.
Sellers, if you are thinking that this means a lower price for you, you’re in for a surprise. Incorporating the Coming Soon status into the marketing plan means capitalizing on those buyers who are most motivated. Allowing buyers to tour the home in a calm atmosphere and with a bit of time to make a decision often works out in your favor. Buyers can then make a clear minded decision rather than a frenzied one they may regret and walk away from. The Coming Soon status also provides the opportunity to gain valuable feedback on market perception, pricing and positioning without adding to the Days on Market tally.
FAQs on Coming Soons:
Q: I saw a Coming Soon sign in the yard or found a listing online and am interested, now what?
A: Contact us and we’ll arrange a private showing for you. For most of these listings, you don’t have to wait until it is formally launched to tour the home or condo.
Q: Where do I find Coming Soon listings online?
A: Coming Soon listings can be found on several real estate search platforms but on compass.com there are hundreds of Coming Soon listings, a tremendous concentration of opportunity for buyers. Click below to view our Coming Soon Collection.