What is the Coming Soon listing status?
The Coming Soon status indicates that the agent and the property owner are preparing the property for sale, but it is not ready for full marketing and showing. Listings in Coming Soon status may not be shown until the Listing is placed in Active status.
Can I advertise my Listing in other venues?
Effective 1/1/2020: Advertising is permitted while a listing is Coming Soon. This includes sharing any sort of details about the properties – features, photos, etc. You may place a sign in the yard of the property with permission from the seller.
Do listings in Coming Soon status require a listing agreement?
Yes, Virginia law requires that the listing broker have a signed listing agreement with the property owner prior to the advertising of a property for sale or for lease. A listing agreement signed by the property owner is a pre-requisite for MLS submission as an Active or Coming Soon listing.
Is use of the Coming Soon status required?
No. The decision to use the Coming Soon status is between the property owner and the listing broker. If the property owner does not wish to use the status or the property is not eligible under the Coming Soon policies, then the Coming Soon status should not be used.
May I show the property while it is under Coming Soon status?
No. When a property is under Coming Soon status, it is being prepared for sale and is not ready to be shown. Listing Agents must notify their property owners that the property is not to be shown while it is in this status. If the listing is shown while it is under Coming Soon status, the status must be changed immediately to Active status.
May I write an offer on a listing in Coming Soon status?
A buyer’s agent, on behalf of their buyer, may submit an offer on a listing even if the buyer has not viewed the property. CVR MLS Rules and Regulations do not prohibit a buyer from making an offer or the listing agent from presenting an offer to the property owner. This is in compliance with Article 1 Standard of Practice 1- 6 as well as Virginia license law which speaks to the obligation of the listing agent to present offers to the property owner as soon as practical or in accordance with the property owner’s desire to review offers.
Is an addendum needed to enter the property into Coming Soon status?
CVR MLS has created a Pre-Marketing Addendum which is required for all Coming Soon Listings entered into the MLS. This listing agreement addendum informs the Property owner of the requirements and restrictions for entering the property in Coming Soon status.
Coming Soon Functionality
Can I email listings to my clients?
CVR MLS Users will be able to email Coming Soon listings information to their clients.
What happens if the property is shown while it is in Coming Soon status?
If a property is shown, then the status must be immediately changed to Active status.
How long may a listing be in Coming Soon status?
The Coming Soon status is limited to no more than 21 days.
Can the timeframe for a listing in Coming Soon status be extended?
No, the timeframe may not be extended. Coming Soon status is intended as a short term status. Properties that require require more than 21 days pre-marketing time should not be listed under the Coming Soon status.
Can I change the status to Active prior to the 21 days?
Yes. As soon as the property is available to be shown, you may change the Status to Active.
Will the Coming Soon status be included in RETS feeds?
The Coming Soon status will not be included in RETS feeds for IDX, VOW and syndication sites since these properties are not available for advertising to the public.
How is DOM calculated while a property is in Coming Soon status?
Days on Market (DOM) do not accrue while a listing is in Coming Soon status in the MLS. Days on Market only accumulate once a listing is in Active status. This is consistent with CVR MLS’s current Days on Market policy of only accruing Days on Market while the Listing is in Active Status.
Will Coming Soon listings be displayed on public-facing sites such as IDX, VOW syndication sites or Client Portals?
Listings in Coming Soon status will not be distributed to public-facing sites. Properties listed under the Coming Soon status are not ready to be shown and may not be advertised to the general public. Listings under the Coming Soon status will be available to CVR MLS Users through Matrix.
Is a photo required while the listing is in Coming Soon status?
Photos are not required while the property is in Coming Soon status. Once a Listing moves from Coming Soon to Active status, however, a minimum of one photo must be uploaded prior to the status change.
How do I search for listings in Coming Soon status in Matrix?
Add the Coming Soon status to your search using the Status Picklist.
Can I change the status of a listing from another status to Coming Soon status?
No. Once a listing has been listed under any other listing status, you cannot change the status to Coming Soon.
What is the Expected On-Market Date?
The Expected On-Market date is the date that the listing will automatically change to ACTIVE status. This field will be searchable in Matrix. The Expected On-Market date is limited to no more than 21 days from the date of the Property owner’s ratification of the Listing Agreement.
What happens to my listing once the 21 days has expired?
Once the Expected On-Market Date occurs, the listing will automatically change to the Active status. If the Expected On-Market date is less than 21 days from the date you submitted the listing to the MLS under the Coming Soon status, you may extend the Expected On-Market date up to 21 days. You cannot extend the Expected On-Market Date past 21 days. A listing that was once under the Coming Soon status cannot revert back to the Coming Soon status. The property must be off market for 90+ days, before it can be re-listed using the Coming Soon status.
Can I schedule an Open House for a property listed under the Coming Soon status?
No. Properties listed under the Coming Soon status may not be shown to clients until the Listing is placed in Active status. Listings in this status will not display any showing information until it becomes Active.
Can a Virtual Tour be added to my listing while it is listed under the Coming Soon status?
Yes. Since an MLS number will be created when you submit a listing using the Coming Soon status, you will have the ability to upload virtual tours. The virtual tour will be visible in Matrix.
Do I need to enter a list price?
Yes, the required fields for properties listed under the Coming Soon status are the same as for an Active listing.
If I let someone in to view the home, do I have to allow others to view the property?
Once the property is shown, the status must be changed to ACTIVE and available for all CVR MLS Participants and Subscribers to show.
What happens if I need more time to prepare the property?
The Matrix system will automatically change the Listing status to Active at the end of the 21-day Coming Soon period. If you need more time past those 21 days, you may change the status from Active to Temp withdrawn.
Coming Soon Compliance
Will the Compliance Department be monitoring the use of the Coming Soon status?
Yes, the Compliance Department, with the guidance of the Compliance Committee, will monitor compliance with this new status. Just as with any other listing status, CVR MLS Users are able to report violations for Coming Soon listings that are not following the rules using the “Report a Violation” button in Matrix.
How can I report a listing under Coming Soon status that is not in Compliance with the CVR MLS Rules and Regulations?
Any potential listing violations, including listings under the Coming Soon status, may be reported to the Compliance Department using the “Report a Violation Button” in Matrix or by emailing Compliance@CVRMLS.com.
Where can I find the Rules for use of the Coming Soon status?
The rules for use of the Coming Soon status are found in the CVR MLS Rules and Regulations. A link to the CVR MLS Rules and regulations can be found on the external links widget in Matrix and on the RARealtors.com web site, RARealtors.com/CVRMLS.
You can also click here.
What happens if I violate the Rules and Regulations?
All violations of the CVR MLS Rules and Regulations are subject to sanctions including fines and suspension of services.