Home Selling in San Mateo>Question Details

Jamie Glenn,  in San Mateo, CA

I've noticed a lot more yard signs around san mateo with 'coming soon' on them

Asked by Jamie Glenn, San Mateo, CA Wed Oct 17, 2007

I don't quite understand why the homes are not just listed for sale. Is it a way around having the listing seem like it's on the market for so long? can someone shed some light onto why you would put up a yard sign with 'coming soon' for a long period of time?

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I use coming soons signs and recently sold a home before it hit the MLS. (Which by the way, Vicki, was not cheating. There was an MLS waiver in place.) The owner was doing some repairs, it was in a very desirable neighborhod, and I wanted to build excitement. I also did not double end the deal. The buyers agent phoned, scheduled an appointment, wrote up the offer, and we were done.) Effective...with little disruption for my sellers.

On the other hand, I put a coming soon sign up just down the street from this home....sellers kept delaying going on the market, and it backfired on us. Coming soon works for a couple weeks only....not a couple of months.
Web Reference: http://www.cindihagley.com
3 votes Thank Flag Link Thu Oct 18, 2007
The Hagley G…, Real Estate Pro in Pleasanton, CA
The San Mateo market is hot at the moment. The coming soon works well for a brief period of time while the seller is staging and preparing their home for sale. If the property is listed and withheld from the MLS they must get a waiver to withold from the MLS to stay in compliance.
Web Reference: http://pamwinterbauer.com
3 votes Thank Flag Link Thu Oct 18, 2007
Pam Winterba…, Real Estate Pro in Danville, VA
I think it is a great marketing strategy. Sign the waivers and put up the sign. This has not quite caught on in my area... I have seen a couple of instances. But, it gets everybody in the neighborhood talking, sets the stage for intrigue.. Most of the signs have been placed by the Owner of the property themselves... and then once they are ready to market the property, they sign a listing agreement with an agent, goes on the MLS, lots of traffic.
1 vote Thank Flag Link Thu Oct 18, 2007
Firstly, it's against the MLS rules to withold a listing from the MLS unless the seller has signed a waiver. You are right; agents are trying to keep the days on the market shorter. They're also trying to sell the property themselves so they don't have to pay a buyer agent. It's cheating and if caught they will be fined.
1 vote Thank Flag Link Wed Oct 17, 2007
Hi Jamie,
I think there are multiple reasons for the long period of "coming soon" signs:
- Early marketing of the listing; the property may not be ready to show but the agent wants to let neighbors and people driving by know that it will be on the market soon and they can contact him now to find out more about it.
- Many times the property is undergoing renovations that take longer than anticipated and the property doesn't go "active" as soon as expected.
- Getting the listing agents name and phone number out there; potential sellers and buyers frequently contact listing agents from yard signs, which can turn into new clients for that agent.
0 votes Thank Flag Link Fri Jun 18, 2010
Jamie, Most agents will put a coming soon sign for a week or so when the property is just about to be listed in MLS but not ready for showing. If it is on the property for a long time, like Vickie said, the agents intentions are probably go also represent the buyer. I generally will put the sign rider for a few days, just to give agents/buyers a 'heads-up' that the property is just about to be entered into MLS and to look for it.
Web Reference: http://www.RealtorRaj.com
0 votes Thank Flag Link Thu Jan 24, 2008
Hi Jennifer,

How did you find your short sale? Did you save a lot of money?
0 votes Thank Flag Link Mon Nov 12, 2007
The coming soon sign is useful to alert drive-by potential buyers in the neighborhood that the property will be available for sale. The house may be in its final preparation stage. 'Coming Soon' listings are not posted on the Multiple Listing Service until the seller is ready to show. It's a good way to build a sales funnel before the property is exposed to the market.
0 votes Thank Flag Link Mon Nov 12, 2007
thanks for the replies, very helpful to understand the reasoning, now I will have to monitor how quickly these homes actually sell. also glad to hear san mateo is still hot.
0 votes Thank Flag Link Thu Oct 18, 2007
coming soon signs are a good way to get the locals around the area interested have them contact the listing agents first. They are able to get buyers that want to see the property and possibly double end both sides. When its on the MLS now days its a free for all. San Mateo is hot right now.
0 votes Thank Flag Link Wed Oct 17, 2007
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