To help you understand the rules governing the Coming Soon Listing Status, we assembled a list of Frequently Asked Questions and their answers.
How is the Coming Soon Status defined?
A Coming Soon listing is a property with an executed listing contract that is not on the market, but will be soon. These listings will automatically move to Active status after seven days. However, if you enter a date in the Expected Active Date field that is sooner than seven days, the property will automatically move from Coming Soon to Active on the date you entered. No showings are allowed while a listing is in Coming Soon status. You may market a property in Coming Soon status, but yard signs must include a Coming Soon rider.
What happens to my listing in the Coming Soon status?
Days in MLS (DIM) does not accumulate while a listing is in Coming Soon status. Listings can manually be changed to Active before the Coming Soon period ends.
How long can a listing stay in Coming Soon status?
According to policy, a listing can be in Coming Soon status for up to seven (7) days.
What happens to my listing when the Coming Soon period has ended?
After the Coming Soon period has been reached, REcolorado Matrix will automatically move your listing to Active and the DIM will begin to accumulate. You can use the Expected Active Date to schedule when your listing should move from Coming Soon to Active status. The Expected Active Date must be within seven (7) days from when the listing was submitted in Coming Soon status. For more information about REcolorado Matrix statuses, please reference the ABCs of Matrix Statuses.
Can I conduct showings if my listing is in Coming Soon status?
No showings are permitted while a listing is in Coming Soon status. A listing must be in Active status in REcolorado Matrix before showings are held. This includes broker showings, virtual showings, open houses, and virtual open houses.
When you enter or edit a listing in REcolorado Matrix, you will see a confirmation box on the Listing Status tab. By clicking “I agree,” you confirm that you will not conduct showings or open houses while the listing is in Coming Soon status. Doing so is a violation of the Clear Cooperation Policy and may result in fines. Showings and open houses can take place only when the listing’s status is updated to Active.
What status should the property be if a listing is in Coming Soon Status, but the seller wants to delay making it Active beyond seven days due to repairs?
If your listing is not ready for showings at the end of the Coming Soon period, you have two options:
- Let REcolorado Matrix move the listing to Active and then update the listing with the date the property will be ready for showings by completing the No Showings Until field. DIM will accumulate. The listing will display with a “New” banner.
- Change the listing’s status to Withdrawn, which means there is still a valid listing agreement in place and marketing can continue, but there will be no showings until the listing is moved to Active status. DIM will not accumulate while the listing is in Withdrawn status. When the listing is moved to Active status, it will display with a “Back on Market” banner.
Who can see listings in Coming Soon status?
Listings in Coming Soon status are visible to all REcolorado subscribers. You can view Coming Soon listings in your REcolorado Matrix Market Watch Widget and Hot Sheets. Coming Soon status is also included in all search forms. Coming Soon listings are visible to brokers through REcolorado Matrix or the REcolorado App, and visible to consumers when a broker shares the listing through the REcolorado Matrix Client Portal or the REcolorado App.
Can I share Coming Soon Listings with my clients?
Yes. You can share Coming Soon listings with your clients using a direct email from REcolorado Matrix or the REcolorado App. You can also include Coming Soon listings in auto emails to your clients. Your client can view Coming Soon listings that you sent in either direct or auto emails in their Client Portal and those you’ve shared in the REcolorado App. Listings in Coming Soon status are also searchable in the Client Portal and the REcolorado App.
Are listings in Coming Soon Status available on syndication portals or IDX sites?
Listings in Coming Soon status are available in IDX data feeds. However, they are not distributed broadly in syndicated feeds or syndication portals. A single office or brokerage may display their own Coming Soon listings on their Virtual Office Websites (VOWs) or IDX site.
What’s the difference between “Incomplete” and “Coming Soon”?
Incomplete is not a status, but rather a way to save your listing while it is in progress. It is similar to the “Incoming” status you may have known before the launch of the new REcolorado Matrix, but is no longer considered a status. You can edit and make changes to your Incomplete listings – think of it as draft mode.
Coming Soon is a status, which helps you comply with NAR’s Clear Cooperation Policy by making your listing visible to the entire MLS. You can begin marketing your listing while it is in Coming Soon status, but cannot hold showings. Coming Soon listings are visible to all brokers in REcolorado Matrix, so listing history will also be visible. Days in MLS do not accrue in Coming Soon status.
You can also indicate an Activation Date, or the date you’d like the listing status to automatically change to Active. By default, the Activation Date will be set to seven (7) days after the listing was entered as Coming Soon. The listing will automatically change to Active status on the date entered as the Activation Date.
Pro Tip: To get more information about the ins and outs of listing status changes in REcolorado Matrix, view our recorded webinar, REcolorado Listing Statuses: Define, Accurately Manage, & Remain Compliant, visit the REcolorado Listing Input & Edit Learning Path, and take a look at the ABCs of Matrix Statuses guide.
Have a question that wasn’t answered here? We’re here for you! Please contact the Customer Success Team at 303.850.9576, option 1, or support@REcolorado.com if you need more information.