The Austin Board of Realtors recently added a “Coming Soon” feature to the multiple listing system (MLS) that previews upcoming listings up to 14 days before they come on the market. A Coming Soon listing can be a very beneficial real estate tool for both buyers and sellers.
Buyers benefit by (finally) having more to choose from! Low housing inventory has been an enormous challenge in Austin’s ultra-competitive real estate market. While housing analysts say 6.5 months of inventory represents a market in which supply and demand for homes is balanced, in August Austin had 2.8 months of inventory. Coming Soon listings will certainly help boost the “for sale” supply.
By previewing a listing, buyers have a chance to evaluate a home thoroughly and won’t feel pressured to write up an offer quickly for fear the house will be snapped up from underneath them.
For sellers, Coming Soon can help create anticipation with interested buyers, who in turn can schedule showings in advance and be ready to tour the property as soon as it hits the market.
Early and positive buzz on a listing could increase the likelihood of multiple offers, resulting in a potentially higher sales price due to the competition.
If you are thinking about selling your home or would like to find out more about how a Coming Soon listing could work for you, contact us today.
If you are looking for a home in the Austin area, we would be happy to set up a customized search on the MLS system for you that will include instant email alerts whenever a Coming Soon listing is posted. Contact us for more information.