Coming soon alerts on new home listings can be a game-changer for buyers in a competitive real estate market. Our Triangle Multiple Listing Service has changed policies in 2023 where Coming Soon listings count as Days on Market, but that doesn’t mean they aren’t still used by listing agents. Here are 10 reasons why Coming Soon Alerts can help you stay ahead of the competition:
1. Get a Head Start: Coming soon alerts give you early access to listings before they hit the open market. This enables you to prepare, do your research, and be ready to act fast when the property is officially listed.
2. Less Competition: Since the property is not yet on the market, you’ll face less competition from other buyers. This can be especially advantageous in hot markets where homes are sold within days (or even hours) of listing.
3. Time to Arrange Financing: Having a bit of a head start can also provide extra time to arrange for financing, ensuring you are pre-approved and ready to make an offer when the listing goes live.
4. Negotiation Advantage: Sellers might be open to pre-market offers, and with less competition, buyers could have more negotiating power.
5. Chance to Prepare a Strong Offer: Early information gives you time to work with your real estate agent to prepare a compelling offer, increasing your chances of success.
6. More Time for Research: You’ll have more time to research the neighborhood, schools, local amenities, property values, and other relevant information.
7. Schedule Inspections Early: In some cases, you may be able to schedule inspections prior to the official listing date, helping you understand the potential extra costs you might face.
8. Build a Relationship with the Seller: Expressing interest before the house is listed could help you build rapport with the seller or their agent, which could influence their decision when considering multiple offers.
9. Alerts Tailored to Your Needs: Coming soon alerts are often customizable. You can tailor alerts to your specific needs – such as location, budget, and property type – so you only receive relevant notifications.
10. You Won’t Miss Out: Perhaps the most significant advantage of coming soon alerts is that you’re less likely to miss out on your dream home. Rather than constantly checking for new listings, you’ll get real-time updates that help you stay on top of the market.
Remember, while “coming soon” alerts can provide you with an edge, it’s essential to have a knowledgeable real estate agent guiding you through the process to help you make well-informed decisions