What is a Coming Soon Home in the Real Estate Market?
November 29, 2023
Coming Soon Homes are the New (but Different) Pocket Listings Pocket listings are virtually extinct. The National Association of Realtors, NAR, has effectively banned the million-plus Realtors nationwide from using the tactic. NAR instituted a new policy called the “MLS clear cooperation policy,” which requires any Realtor to enter their “Pocket Listing” into the MLS within one business day of publicly advertising it (unless the seller signs a refusal of service). Entering a listing into the MLS means it is syndicated to all the other MLS members (mostly Realtors) and typically broadcast to thousands of public websites like Zillow, Realtor.com, Homes.com, etc. Pocket listings are “secret or private listings” that a Realtor held onto and tried to find a buyer...