The Advantages Of Hiring a Major Real Estate Firm Such As Coldwell Banker

The Advantages Of Hiring a Major Real Estate Firm Such As Coldwell Banker

Collaborating with a large real estate office brings forth numerous benefits, and a significant factor contributing to this is the recent shift in the rules of the Multiple Listing Service (MLS), particularly concerning “Coming Soon” listings. For my dedicated readers of the Los Angeles real estate blog, you may have noticed a change in my content regarding upcoming listings. The reason for this lies in the restriction against advertising listings not yet in the MLS. However, I’ve found a workaround that allows me to share information with my 400+ colleagues at the Coldwell Banker Hallmark offices, affecting the frequency of updates on my Instagram account.

Here are some key aspects related to the “Coming Soon” status:

1. No Showings: During the “Coming Soon” status, the property remains off-limits for showings until it transitions to the Active status. This means that realtors cannot showcase the property to potential buyers or clients during this initial phase.
2. Limited Advertising: Listing information is withheld from public-facing real estate portal websites during the “Coming Soon” status. As a result, the Days on Market (DOM) do not accumulate during this period due to the restricted advertising reach.
3. 21-Day Limit: Properties can stay in the “Coming Soon” status for a maximum of 21 days. Beyond this timeframe, the MLS system automatically shifts the listing to Active status. Consider a scenario where a seller faces a family emergency and wishes to delay showings. While possible, the property must be actively listed, and the days on market will start accruing. This becomes particularly relevant during the rainy season, complicating the timing of listings as rain delays staging and photography, causing subsequent backlogs for stagers and photographers.
4. One-Time Use: Importantly, the “Coming Soon” status is a one-time opportunity. Once the property status changes from “Coming Soon” to any other status, it cannot revert back to the “Coming Soon” status.

Understanding these nuances of the MLS rules sheds light on the intricacies of pre-listing marketing strategies and the considerations involved in maximizing the exposure of a property. Stay informed for more insights into the dynamic world of Los Angeles real estate.

These are just some of  the Advantages of Hiring a Major Real Estate Firm