Now more than ever the Triangle Multiple Listing Status of COMING SOON is going to be very helpful for sellers and buyers.
Our local TMLS just released new “rules” for real estate professionals regarding the Coming Soon status for the homes coming on to the active market, and not a minute too late! In no relation to the current Covid-19 crisis, MLS was set to release this new ruling on April 1st. The “old” rule dictated that “Days on Market” would begin to accumulate as soon as a home was entered into MLS, whether it was in “Active” status (available for agents to show their clients) or “Coming Soon” status (not available for showings yet). Anyone that’s been active in the real estate market lately knows this is not good. The homes in Coming Soon status would accumulate Days on Market (DOM), however they were not being able to be shown; when the home status was switched to “Active” it had already accumulated DOM which gave it a “stigma” to a potential buyer of “There must be something wrong with that house, it’s been on the market a week already and hasn’t sold, let’s PASS on seeing this one and move on to the next home”. This predicament was causing homes to be sold without going into TMLS, in other words “pocket listings”. This tactic may have made some buyers, sellers, and real estate professionals happy but this was also causing some sellers to not receive their “highest and best” offer terms, as well as keeping homes “off the market” causing buyers to not have a chance to make an offer.
If you are thinking of putting your home on the market after our immediate threats of Covid-19 are over, let us know! We can get you “on the market” in “COMING SOON” status in MLS complete with a sign in your yard without ever coming in contact with you or any family member! Front Porch Realty agents do this FULL TIME, let us handle these delicate situations for you. We are highly professional and experienced and can make your home selling, or buying, transaction go smoothly even in these unprecedented times. Real estate is deemed an essential service and we have put 3 families in their dream homes just this past week!
Contact us today for details and Stay Safe, hopefully this will all be over soon.