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Does a Coming Soon sign help sell a house faster?


Blog by Gord Honor | January 28th, 2017


What does a Coming Soon real estate sign do to help sell?

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Unlike a movie trailer you won’t find a lot of useful information online about homes with Coming Soon signs on them. Realtors who install “coming soon" signs are trying to create some hype about the listing, and they also trying to sell the house themselves before it goes on the MLS Multiple Listing Service to the general public. When you see a sign that says Coming Soon it is usually covering the “For Sale” part of the sign. In most cases the vendor has an exclusive listing with the Realtor meaning that the Realtors in their office are the only realtors that can actually sell the home.


Will a Coming Soon sign help sell my house faster?

Your home could potentially sell faster, but you may not necessary get top dollar for your house.  The property may sell faster only because it was not ready to sell yet on the MLS.

If you wait until it is properly staged and set to show, and put it on the MLS you are going to market your home to the most amount of potential home buyers.

Will a Coming Soon sign get me more money for my house?

By not exposing the property listing to the masses via the MLS the demand is naturally limited. Real estate prices are driven by the laws of supply and demand, and this can create a falsely low demand. The only people who will know about it are your neighbours, and those people who happen to drive by and see the sign.

The partial exception is that in an extremely hot sellers' market, where there is very little inventory and lots of demand, you may still be able to command a sale price that is perceived to be very good. The reality is however will never know if you could have received a higher sale price because you won’t be attracting a world wide market of potential buyers.

We are seing a lot of these signs in Lorne Park, Mineola, Port Credit and Erin Mills Missauga. 
 

To find out the best way to market and sell your home reach out to me at gord@gordhonor.com

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