Coming Soon May Come Soon
When Matt Consalvo, CEO of ARMLS, announced last week at a Broker event that ARMLS was considering a new status called “Coming Soon”, I felt a little guilty and a little proud.
I was proud because JoAnn invented the term more than eight years ago. You see, we often list a home one week, and then because of staging, photography and repairs, it might be two or three weeks before the home is ready for activation on MLS. So, JoAnn said, “Why don’t we go ahead and put up the sign and hang a rider saying “Coming Soon”, then when people call we can take their number and give them a call day one on MLS.” We decided that we would not allow showings or release the price. This would strictly be a tool to build anticipation.
I knew this was an innovation when Jim Sexton, our broker (we were still with John Hall & Associates) called us about a year later to ask, “What is Coming Soon?” I explained the whole thing to Jim and he said he never heard of that but it didn’t sound like a violation. You know, Brokers are all about violations. He asked if we had a signed listing and I said yes. He asked if I had the Seller’s written instructions not to activate on MLS until ready and I said yes. He said okay, he would call me back if it was a problem and he never called back. Whew.
I felt guilty when Matt made his announcement because the ensuing discussion by the Brokers in attendance was quite exhaustive and focused on all the abuses of our simple idea. It seems agents are using Coming Soon to get around Days on Market. Just keep it Coming Soon until sold, they show it, they quote prices and the list goes on.
Then someone said agents were putting Coming Soons on Facebook and they don’t even have a listing. My anxiety grew with every comment. Ultimately, Matt explained that, if they did it, Coming Soon would work just about like we originally conceived it. Agents will be able to preview homes not yet ready to show but MLS would require a price and of course an offering of commission to a selling agent who brings an offer early.
There are still a lot of kinks to work out to prevent abuses but we hope that if this new status comes to pass, it will be a good improvement and bring about order where none presently exists.
JoAnn says she will never do anything like that again. I just smile and say yes sweetheart, of course you won’t.