New Status Added ... Coming Soon

Takes effect November 4, 2019

Here's what you need to know: The purpose of "Coming Soon" status is to allow time for the seller and listing brokerage to prepare the property for sale while having an active listing agreement and encouraging cooperation with other brokerages.

The new Coming Soon status will support the REALTOR® reputation by keeping us the most valuable source of accurate data and knowledge of the inventory for real estate instead of other third party syndication sites. This new status will also encourage our Code of Ethics in regard to cooperation of brokerages for the best interest of our customers.

Learn the rule

MLS Rule: Section 1.2.3 - Coming Soon Status:

The Coming Soon Status allows you to pre-market your listing through the MLS for a limited period of time until it is ready for showings.  During the Coming Soon status the property may ONLY be marketed as “coming soon” during this limited time frame that the seller has requested no showings.  Once the property is ready for showings it must be changed to “active” status. All listings for properties subject to an Exclusive Right of Sale or Exclusive Brokerage listing agreements must be entered into the Space Coast Association of REALTORS® MLS within five business days as an Active or Coming Soon listing.

a. If a seller has authorized the listing broker via their listing agreement to advertise the property as a coming soon listing, then the MLS Participant shall enter the listing in the MLS database in accordance with Section1 – Listing Procedures utilizing the “Coming Soon Status" in accordance with these rules and regulations.

b. A listing may utilize the "Coming Soon Status" for a limited period of time, not to exceed twenty-one (21) days. Listings with a “Coming Soon Status” will automatically convert to “Active Status” after twenty-one (21) days. Alternatively, the listing broker may change the “Coming Soon Status” to “Active Status” at any point prior to the expiration of the twenty-one (21) days, if seller instructs the listing broker that the property is ready for “Active Status” and ready to be shown to prospective buyers and other MLS participants and subscribers.

c. A listing is only eligible for “Coming Soon Status” when initially input into the MLS database. Once a listing has changed from “Coming Soon Status” to “Active Status” it may not revert back to the “Coming Soon Status.” Listings entered in any other status are not eligible to be switched into the “Coming Soon Status.”

d. Upon entry of a listing that will utilize the “Coming Soon Status,” the listing broker must submit the listing agreement and the “Coming Soon Status Seller Authorization Addendum” to the MLS within 48-hours.

e. Listings in the “Coming Soon Status” are displayed in the MLS system only and are not eligible for inclusion in MLS’s syndicated data feeds (i.e., third-party websites). Listings in the “Coming Soon Status” will be included in the MLS Participants (Broker) and MLS Subscribers (Agent) IDX compliant website data feeds. Listings utilizing the “Coming Soon Status” are not eligible for showings or open houses. While the property is in the “Coming Soon Status” the property may not be promoted or advertised in any manner other than as a “Coming Soon” property. MLS Participants are permitted to share listings in the “Coming Soon Status” with their clients through the MLS system.

f. Any showings or open houses virtual showings or virtual open houses of properties of properties utilizing the "Coming Soon Status" prior to the listing becoming active will result in an automatic fine of $1,000 to the MLS Subscriber, and for a first violation the broker will be notified of the violation. A second violation to the MLS Subscriber will result in a $3,000 fine to each the MLS Subscriber (agent) and the MLS Participant (Broker). Additional violations of this rule by the MLS Subscriber are subject to potential suspension or termination of the MLS Subscriber’s MLS privileges in accordance with Sections 7 Non-Compliance with Rules and 9 -Enforcement of Rules or Disputes.

Coming Soon Status is not intended to give a Listing Brokerage an advantage in finding a buyer for the property to the detriment of cooperating brokers and sellers, nor is it intended to circumvent the sale of the property on an open market. Coming Soon Status provides a method for listing agents to notify other cooperating brokers of listed properties that will be made fully available for showing and marketing after preparations have been completed. MLS Participants must enter a listing into coming soon or active status within (1) business day once the listing is publicly marketed as available for sale.  See Section 1.01 Clear Cooperation. 

Helpful Resources

New Form: Coming Soon Status Seller Authorization Addendum 

How to Use Coming Soon Status in FlexMLS

Coming Soon Status Fact Sheet

Coming Soon Status Frequently Asked Questions

Status Comparison Chart

Coming Soon Checklist

Coming Soon Quick Tips

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