REALTOR® Colleagues and Consumers alike have had questions and comments since the RI Statewide Multiple Listing Service (MLS) introduced the “Coming Soon” status on the MLS. First of all, for the Consumer, a “Coming Soon” status is nt an Active Listing, it is considered to be “Off Market”; which means the house CANNOT be shown by the Listing Agent. This is probably fine if you are not ready to show your house because you need to de-clutter, make repairs, or take care of other “last minute” items…as long as it is completed in less than 30 days, because the listing will automatically switch to Active and will have to be shown to Buyers. A Coming Soon listing is NOT an opportunity for the Listing Agent to show the home to Buyers without other REALTORS® haveing the opportunity for their Buyers to see the house. If the Listing Agent attempts to do this, he or she is doing the Seller a disservice because other Buyers will not have an opportunity to make a potentially higher offer on the house. If this happens to you, or someone you know, call the local Board of REALTORS® because it is a violation of MLS rules and the REALTOR® Code of Ethics.
The REALTOR® Code of Ethics is the demarcation line between individuals buying and selling their own real estate, licensees selling the real estate of others (who are required to only abide by the law,) and REALTORS®. We are held to a higher standard of conduct. We “police” our members for the protection of the consumers and other members.
REALTORS® demand a higher level of business conduct and professionalism from our members, and we are always striving to provide better service for the consumer. Full time REALTORS® treat the job as the profession it is by continually taking classes and attending webinars in addition to the required Continuing Education classes mandated by the state licensing body.
If you are interested in a Coming Soon listing feel free to give ma a call at 401-580-9797.