James (Jim) Lawson, DBA, Broker Associate, RSPS, BPOR, HI & PE (DomainRealty.com LLC)

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Rainmaker
1,324,938
Donald Urschalitz
Lubeck Realty Group - Jupiter, FL
P.A. Realtor ABR RSPS North Palm Beach County

Bad pratice, it makes others think that you are holding it for you own office to sell it.

Mar 13, 2016 01:43 AM
Rainmaker
4,799,481
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

A hot property in a hot market might generate lots of activity and potential bidding wars with such a strategy.

Mar 13, 2016 05:56 AM
Rainmaker
5,571,310
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

that's too long.....I like delaying showings for 3 days..... that gives buyer agents an opportunity to alert the buyer and do drive bys....and they can do research on the property ....and they'll be ready to make an offer the first day on the market....

let me add that when we go the route of delayed showings, the showings are delayed until the open house on a Sunday....we do this frequently....NO ONE GOES IN THE HOUSE UNTIL THE OPEN HOUSE EVENT....NO ONE.... and there are potential buyers lined up at the door when we arrive.... they don't need to have their buyer agents with them... they should let us know that they do have a buyer's agent so we can communicate with that agent when the offers come in....and they do...we will not use this method unless a home is priced properly....

Mar 13, 2016 05:10 AM
Rainmaker
140,568
Joan Dickie
Keller Williams Premier Realty - La Crosse, WI
Keller Williams Premier Realty

Trying to create a frenzy to buy.  It is as ethical as "coming soon" in my view.  You run the risk of it flopping.  I guess it depends on the market.  I don't think it would work in a slow market.

Mar 13, 2016 12:09 AM
Rainmaker
1,707,423
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

I don't believe that is ethical and at the very least harmful to the seller. You prime responsibility is to get the best price and conditions of sale for your seller, and this is more about selling it yourself.

Mar 13, 2016 12:02 AM
Ambassador
4,557,551
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

I've seen a few Coming Soon homes sell before they hit the live market. Guess what happened? And I believe the MLS is working on banning "Cming Soon" Not sure about just delays - why bother putting on if it's not ready?

Mar 12, 2016 11:52 PM
Ambassador
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John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

I don't see the point of listing until it is available to show.

Mar 12, 2016 11:49 PM
Rainer
42,222
Darren Kittleson
Keller Williams Realty - Madison, WI
CRB, SRS, RENE-Madison WI

Interesting answers.  Of course this strategy is always market driven.  In a strong seller market why not?  As long as the MLS rules allow for it.  That being said I do agree that no one can see/show the property until it is made "Active" for showings.  Our local MLS changed a status to allow for "withheld by Seller" to allow the marketing to start and build up excitiment/interest in the propery and quite frankly, let agents working with buyers to clear their schedules for the first showings.  That coupled with a well promoted open house has allowed many of our sellers (remember our fiduciary duty is to our client) to quite often receive multiple offers and many way over asking price.  In my opinion this is doing what's best of our client, the seller.  

Remember this is market driven.  This strategy won't work in a balanced or Buyer's market in most cases.  The market of the moment for many of us is a strong Seller market.  We owe it to our sellers to do what's best for them regardless of who might think it unfair.  

It might suck to be a buyer agent in this strong seller market for sure.  Our buyer agents are almost always in multiple offer situations.  That's the reality of this market.  

As agents, we owe it to our clients to always be looking out for THEIR best interests.  In my opinion that includes introducing them to a strategy such as this and allowing them to choose.  

Apr 25, 2016 10:05 AM
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Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

It doesn't bother me one way or another. If it is the seller's wishes then so be it. If it is the agent's tactics then they should know I will be diligently trying to get my buyer in a contract before the week is up and not wait on their listing.

Mar 13, 2016 01:28 PM
Rainmaker
4,054,053
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I don't like it... it's like false advertising. And I'd like to see where there are any figures showing these sell at a higher price.

Mar 13, 2016 06:26 AM
Rainmaker
223,669
LuxurySoCalRealty San Diego
Compass - La Jolla, CA
San Diego Partner - The Private Client Network

Hi James (Jim) Lawson, DBA I think it would depend on the price point of the home, buyer demand in that price point, and seller's direction.

Mar 13, 2016 05:35 AM
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3,036,947
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

I am not a fan of the practice and question the motives of anyone who employs it. 

Mar 13, 2016 04:01 AM
Rainmaker
1,635,442
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Lend Smart Mortgage, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

It doesn't sit well with buyer prospects and I hope it backfires

Mar 13, 2016 03:37 AM
Rainmaker
818,337
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Just doesn't seem right to frustrate potential buyers.

Mar 13, 2016 03:27 AM
Rainmaker
6,540,604
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

This will not be allowed by a responsible MLS service.

Mar 13, 2016 12:48 AM
Rainmaker
2,634,037
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Never do this is how I feel James (Jim) Lawson, DBA . Its a mixed message

Mar 13, 2016 12:28 AM
Rainmaker
1,716,054
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

Our MLS won't allow it so it's kept in-house for that time in our area. There is also that pre-listing nonsense on Z that people are doing.

I guess it makes a difference on how much inventory you have in your market too.

Can't think of anyone that ever did a survey if that was true. I would challenge that phrase also.

Mar 13, 2016 12:14 AM
Ambassador
5,357,799
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Builds anticipation.

Jun 10, 2019 06:35 PM
Rainmaker
4,882,965
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

We are seeing homes going into MLS on Wednesday/Thursday with showings beginning Saturday.  Kind of getting used to that.

Mar 15, 2016 11:01 AM
Rainer
318,613
Melissa Jackson
Century 21 Alliance Properties - Azle, TX
Helping You Make The Right Move

We have a time period to get listings into the MLS.  

Mar 14, 2016 01:19 PM
Rainmaker
1,683,350
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

I think it should be available for viewing, the moment it shows up on MLS.

Mar 13, 2016 01:23 PM
Ambassador
2,563,851
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

It's either for sale, it is not for sale.  Don't play games with people!

Mar 13, 2016 01:21 PM
Rainmaker
597,069
David Gibson CNE, 719-304-4684 ~ Colorado Springs Relocation
Colorado Real Estate Advisers LLC - Colorado Springs, CO
Relocation, Luxury & Lifestyle residential
​Jim,
First thought was, not a fan but I'm considering Barbara Todaro's strategy.
Mar 13, 2016 12:48 PM
Rainmaker
1,380,323
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Only when needed to clean up the house.  It can generate interest, but it can also backfire.  I wouldn't recommend it as a general practice.  Agents might start ignoring your listings...

Mar 13, 2016 12:18 PM
Rainmaker
40,454
Diana L Faulkner
Romanoff Realty - Alamo Heights, TX
Alamo Heights Homes for Sale - Concierge Service

I am not in favor of the practice.  In my mind, it is unethical.  I see this frequently in my market where "you and your client will get first shot" is bandy-ed about freely and openly.  How is this operating in the best interest of your Seller? 

Mar 13, 2016 11:13 AM
Rainmaker
3,427,767
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

James (Jim) Lawson, DBA I will not feel comfortable. Good question!

Mar 13, 2016 11:10 AM
Rainmaker
1,987,878
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

Some buyers may be annoyed by this practice but it happens here too 

Mar 13, 2016 10:26 AM
Rainmaker
3,985,837
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Our MLS gives us 3 days to input or we get fined

Mar 13, 2016 09:14 AM
Ambassador
3,724,094
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

I didn't like but decided to try it. I held 3 well attended open houses in that period. The house sold for $21k over list and had a quick close

Mar 13, 2016 08:44 AM
Rainmaker
846,020
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

I doubt it affectss price. more likely it just annoys everyone. People should just go knock on sellers door and annoy them. " Coming Soon" is similar.

Mar 13, 2016 08:02 AM
Rainmaker
1,157,485
FN LN
Toronto, ON

A review of the laws and regulations, as well as any applicable MLS rules, that may apply to the listing would need to be conducted before forming an opinion.

Mar 13, 2016 08:01 AM
Ambassador
3,034,240
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I do "coming soon" sometimes to get interest in a property, but I generally get my sellers to sign a delay clause for entry to the MLS and then put it in when showings can begin.

Mar 13, 2016 07:09 AM
Ambassador
3,722,438
Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

We can do that only with a "Coming Soon" status, and while the listing is on this status, it can't be shown - to anyone!  

Mar 13, 2016 04:00 AM
Rainmaker
609,786
Eve Alexander
Buyers Broker of Florida - Orlando, FL
Exclusively Representing ONLY Orlando Home Buyers

The only reason any agent would do that is to get his own buyers in first to make more commission, or expose it to the agents in their office so that it  can stay as an "in-house" sale.

Any other excuse is just BS.

Eve

Mar 13, 2016 03:10 AM
Rainmaker
686,920
Hella Mitschke Rothwell
(831) 626-4000 - Honolulu, HI
Hawaii & California Real Estate Broker

Whatever the seller and his agent decide on strategy, and better put that in writing,  (and that's not against the law) is what goes. I don't care about the buyer, he is not my fiduciary responsibility. I have a "coming soon" listing that needs some work done which is taking longer than we had anticipated. I've got it up on my website as such but not on the MLS (which I have down in writing from the seller). In the meantime, I do have buyers calling me who are interested. Hey, if the other agents go to my website, they can find it as well. Another seller just lowered the price on his property, but we have decided to not make the change officially until my newspaper ad comes out next weekend with the new price so we get the attention of the general public as well. It's all about strategy; I won't leave it up to buyers agents to dictate my sales strategy.

Mar 13, 2016 03:04 AM
Rainmaker
3,995,706
Richard Weeks
Dallas, TX
REALTOR®, Broker

In our mls an active listing must be available for showing. 

Mar 13, 2016 01:36 AM
Rainmaker
4,157,118
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Not ready to show, not ready to promote!

Mar 13, 2016 01:24 AM
Rainer
222,865
Bob Betel
Allstar Home Mortgage, Inc. - Sweetwater, TN
President, Allstar Home Mortgage, Inc

If a property is listed for sale, then sell it. 

 

Mar 13, 2016 01:22 AM
Rainmaker
3,968,087
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Not a fan of it.  Why wait?

 

Mar 12, 2016 11:59 PM
Rainmaker
795,232
Susan Laxson CRS
Premier Sotheby's International Realty - Naples, FL
The Michelle Thomas Team

In my opinion, there is nothing beneficial to listing a property and withholding access to other agents, unless it is to only benefit yourself.  Does it really generate more interest, or pent up demand or does it simply allow the listing agent to double end it?

Mar 12, 2016 11:57 PM
Rainer
43,931
Stephanie & John Webb
Latte Stone Realty LLC - Albuquerque, NM
Stephanie Webb Co-Owner, Latte Stone Realty, LLC

I don't agree with it. I understand taking a listing and not putting it in MLS until the home is READY TO SELL because I have had to do that but not putting it in MLS and then holding showings.

Mar 12, 2016 11:56 PM
Rainer
140,360
Richard L. McKinney P.A.
Atlantic Shores Realty Expertise - Port St Lucie, FL
For Results that MOVE you on the Treasure Coast!

Nothing wrong with it but I don't think it increases the chances of a higher sales price. 

Mar 12, 2016 11:54 PM
Rainmaker
882,261
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Lots and lots of questions that would require a lengthy response.

Be aware there does exist a labyrinth of contortions an agent must execute to abide by all the authorities who wish to limit agent options.

The question that is most relevant, that begs to be answered is "What makes this a valid statement?"

"delaying the beginning of viewings for up to a week will result in a higher sold price."

 I would challenge the purpose is unknown to the other agents regarding delayed showing. 

This is a practice (coming soon)  to which I can commit my full support. But please do not assume to know why. However, try to imagine how this could be mutually beneficial to ALL agents.

 

Mar 12, 2016 11:49 PM
Rainmaker
1,397,958
Raymond E. Camp
Ontario, NY
Licensed Real Estate Salesperson Greater Rochester

If it is in the MLS you had better be ready for showings; if it is not available to be seen it might not get a second chance.

Mar 12, 2016 11:41 PM