This week we tackle Coming Soon…and what it means on both the selling side and buying side. You’ve all seen those signs and it may seem obvious. But there’s more to it, as you’ll see.
What exactly does coming soon mean in real estate sales?
It’s a property that we know is going to be coming on the market, but for whatever reason, the seller has to wait. It could be a week, it could be thirty days, maybe even longer than that. But some of the reasons they might be waiting is, maybe they’re doing some fix ups, some carpet, paint, minor maintenance items, or maybe something larger, kitchen renovation, hardwood floors, bathroom updates. Maybe they’re waiting for retirement papers or PCS orders and maybe they’re just waiting for the kids to be out of school by the time they actually settle on the house. So any number of reasons we might have a property in coming soon status. We know it’s coming up but not yet on the market,
How does coming soon marketing benefit a seller?
Let’s say someone wants their kids to finish the school year. They don’t want to go on so early that if they get a buyer, the buyer’s not going buy the property because they can’t go to settlement and take possession of it. So what we’ll do, in most cases, is have a coming soon program which really benefits the seller by creating anticipation about their home, an awareness that it’s going to be coming on the market.
So those buyers that are looking in that price range and that area, will be really anxious, so that once we do go on the market, that first weekend, that open house will be super busy with a lot of people that, seeing other folks just as interested as them, may have a little bit of fear of loss and offer them a really attractive contract on their house. So we want them to hit the ground running.
There are some situations where sometimes a seller wants to sell their house and they don’t want the hassles involved in people going through. Maybe they’re recovering from surgery, maybe they’ve seen their dream house but they have to sell their house, and if they can get a price that they can feel really good about, they’re actually willing to sell the house before it ever goes on the market.
How does coming soon affect buyers?
So you know with the coming soon properties right now, if you’re looking for a house, you’ll obviously see the inventory’s very low, there’s a lot more demand than there is supply right now. So for buyers, our coming soon properties are known about, this helps in a number of ways. Obviously, number one, that early notice, so you can maybe plan ahead, get in there as soon as it goes on, be one of the first buyers in. Sometimes we can get you early access, if the seller’s allow, and depending why they’re waiting to go on the market. Sometimes, you can even get an offer in before they go on. Some sellers are motivated to take something really quick if it helps them reach their goals. That can work out for a buyer getting in there before everybody else is able to. And then really just kinda being educated about the market, being knowledgeable, know not only what’s on right now, but also what’s coming up, so you can make more informed decisions. So all those things help buyers and something that we provide is we usually carry twenty, twenty five plus coming soon listings at any time.
We talk to buyers and a lot of them are concerned that they’re just not seeing what they want out there, in their price range, there may be very little, if anything on the market, but we tell them there’s always, there’s always properties that are gonna be coming on and many times we know about those properties.
So, hope this has been helpful to you. If you have any other questions about coming soon or any thoughts you wanna share with us, our phone number’s 703-822-0207 – we’d love to help you.
Thanks for watching and see you next time. New videos will be released every Wednesday so please subscribe to our YouTube channel so you don’t miss an episode!