What is Coming Soon status?
“Coming Soon” status indicates there is currently an active Listing Agreement on a property, but it is not yet available for reasons that include, but are not limited to: renovations, repairs, cleaning, staging, photography or video production.
The “Coming Soon” status is not intended to give the listing brokerage an advantage in finding a buyer for the property to the detriment of cooperating brokers, nor is it intended to circumvent the sale of the property on an open market. “Coming Soon” status provides a method for listing agents to notify other cooperating brokers of properties that will be made fully available for showing after preparations have been completed. NOTE: Violation of MCRTC MLS Rules and Regulations covering “Coming Soon” Status results in a minimum $500 Fine.
Listings in “Coming Soon” status must have a completed Seller Authorization Form with Seller(s) signature(s), which is to be uploaded as a Supplement to the listing in the MCRTC MLS. A listing can be in “Coming Soon” Status for a maximum of 21 days. Properties in “Coming Soon” status MAY NOT be shown.
Coming Soon Status Rules
- A signed Coming Soon Status Seller Authorization Form is required to be uploaded as a Supplement to the listing in the MCRTC MLS.
- Showings and Open Houses are NOT permitted while a listing is in Coming Soon Status ($500 Fine – 1st offense; $1,000 fine – 2nd offense, up to $15,000 – 3rd offense).
- A listing can be in Coming Soon Status a maximum of 21 days.
- A listing in Coming Soon Status will automatically change to active on the “On-Market” date of your choosing. (The “On-Market” date must be within 21 days of List Date).
- Once the listing is in Coming Soon Status, the On-Market Date can be changed by the listing agent as long as the date remains within the 21-day window.
- As soon as the listed property is available for showings, the status of the listing must be changed to Active.
- Once Active, a listing cannot be reverted to Coming Soon Status.
- At least one Photo is required. (MLS Rule Section 1.18)
- Days on Market (DOM) will not accrue.
- Listings can be changed to Active, Cancelled, or Temporarily Off Market during the Coming Soon Status period.
- Listings may be syndicated (i.e. Realtor.com, etc.)
- Listings can be advertised and may be included in broker websites (IDX), customer portal, auto-emails and broker tools.
- A property can be listed in the Coming Soon status once per year unless the property has been sold, rented, or the property is listed with a new brokerage firm.
- If the listing broker receives any offers on the property during the Coming Soon Status, the listing broker is required to report offers to the Seller. The seller(s) and listing agent agree that no offers will be accepted while listing status is Coming Soon and the listing status must be changed to Active before acceptance of any offer.
- If the property is not available for showing after (21) days, the listing agent must change the listing to Cancelled or Temporarily Off Market Status.
Coming Soon Resources
Note: The Coming Soon Status Seller Authorization Form can also be found in Form Simplicity.