Home sellers are always asking if I can put up a coming soon sign so their house gets more visibility. Yes, I can…but is that to your advantage? I want to share my opinion of the pros and cons of coming soon signs.
There are many schools of thought. Obviously, there is the home seller’s train of thought and the Realtor’s train of thought. My thoughts are always based on what works versus the seller’s thoughts of what they see others doing and what everybody is trying to sell you.
The pros and cons of a coming soon sign
Pros of a coming soon sign
As a home seller, you want to make sure your home is getting as much exposure as it can possibly get. But likes on Zillow don’t really matter. Random exposure is not as important as the right exposure. For example, I know you’ve seen houses on Zillow that have hundreds of views as well as saves, and yet it hasn’t sold yet. Those are random likes. When marketing your home, I expose it to Realtors who have buyers who are ready, willing, and waiting for a house like yours to come on the market. That is what is going to get your home sold with multiple offers and for thousands of dollars over your asking price.
Cons of a coming soon sign
For many reasons, a coming soon sign definitely gets the attention of the neighborhood! Your neighbors might tell some of their friends that a house in their neighborhood will be on the market soon. They might even mention it on their social media. But are their friends, YOUR buyers? In other words…
- Are they working with a Realtor?
- Have they been in the home buying process for a few months now?
- Are they preapproved for a home loan? Do they have a house to sell?
- Are they prepared to close in 30 days? Do they know how the current market works?
- How many houses have they looked at?
- Have they made offers that weren’t accepted?
- And most importantly, how many houses have they lost?
Buying a home has changed
You see, home buying has changed. Until a buyer goes through the “how to buy a house when there’s no inventory phase” of the home buying process, they are not going to buy your house for over asking price. They just aren’t. Those people are not your buyer.
Home buyer case study
My recent buyers had every intention of finding a newer, larger home before they ever put their home on the market. Ashley had purchased the current home years ago when she was single. It was just right for her needs. But after getting married and having a baby, a 2 bedroom with no basement didn’t suit them so much anymore.
They did their due diligence and got preapproved for a home loan without having to sell their current home. That way, there was no pressure. They could take their time and find the right house without trying to coordinate two moves.
Long story short, we probably looked at 30 houses and wrote 10-15 offers…that they didn’t get. Every time they lost out to another offer, I tried to find out why. With every lost house, they became more informed of how to buy a house when there is no inventory. We kept coming up with a better game plan. They became better and stronger buyers. They learned the secret of buying a house in today’s market from not winning. Finally, they bought a house that worked for them and it didn’t break the bank.
When should you use a coming soon sign?
On the other hand, a coming soon sign might work for a house that:
- Doesn’t show well and needs an extra push to get everybody’s attention
- Might be in an area where similar houses don’t get multiple offers or
- Is just flat out overpriced
Not to mention, there are license laws about what “coming soon” even means and the logistics of it. Formerly coming soon became coming soon to MLS. There are huge fines ($1,000) to pay if a house is shown to anyone before its active date. Any home for sale has to be available for anyone to see at the same time. That puts you as the homeowner under duress as well because unfortunately aggressive buyers and agents have been known to knock on a door of a coming soon house – just to take a peek.
The home buying process is all about elimination. Buyers are looking at houses to eliminate them because they know they can only buy one. That way, when they find the right one, they will know it’s the one and will fight their hardest to make it their own.
As a seller, you want all the exposure you can get but believe me, when I tell you a coming soon sign is not going to make your life easier. What I’ve found is it takes the anticipation, momentum and the thrill out of the process of coming on the market.
Hiring the right Realtor
Selling your home always starts with hiring the right Realtor. There are plenty of buyers out there that are looking for a house just like yours. Let my 34 years of experience of selling homes for top dollar and faster than the others work for you. I have perfected a marketing plan that works in all markets. Let me create my signature Model Home Look for you using your own things. It’s what every buyer wants and will pay extra money to get. It will definitely work for you…if you allow it to happen.
As your Realtor, it is my job to get your home not only priced right and looking fabulous with its model home look but to also get you multiple showings. Premarketing only takes away from the surprise of a new house on the market and the urgency to see it. Don’t give home buyers and their agents a reason to eliminate it before they get a chance to see it.
You don’t need a 59 Point Marketing Plan to sell your house in today’s market. My 3 Steps is easy and works!
Call or text me at (913) 515-3250 to find out how easy it will be to sell your home without all the confusion of a coming soon sign.
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