“Coming Soon” signs are sprouting up everywhere and are the source of confusion and problems in the greater Cincinnati real estate market.
We’re in a seller’s market which means that it isn’t hard to find a buyer for almost any property that is priced right. It’s no surprise there has been a shortage of homes on the market for some time and buyers are getting anxious.
“Coming Soon” signs are a way to spark interest in homes that are about to hit the market.
The signs are creating lots of interest and lots of frustration because neither the buyer’s Realtors® nor the buyers have a guarantee about information or getting into the property.
Some agents representing “Coming Soon” properties are great about answering questions and are willing to share the date the property will be available to buyers. The problems pop up when there is a lack of information and the property appears in the MLS as sold before listed and buyers are mad because their agent wasn’t able to get them into the house.
As a marketing strategy “Coming Soon” is a great way to generate interest and hopefully a bidding war. However, if interested buyers never see the house how does the seller really know they received the “highest and best offer”? And that is why I hate “Coming Soon” signs.
The local Cincinnati real estate market is crazy right now and upset buyers are to be expected.
Personally, I would like to see an “all or nothing approach to “coming soon”. Limit the number of weeks the sign is stuck in the ground. Have information available for everybody or tell everybody the date the property will be available and stick with it. This approach can help reduce some of the confusion but it doesn’t eliminate anxious buyers from knocking on front doors and sellers allowing them in!
Interested in “Coming Soon” or “Listing Now” give me a call. Call/TXT