The resurgence of "coming soon" listings in the housing market is creating a complex and fragmented landscape for buyers and sellers, with varying rules on where and how these properties are advertised. Agents report confusion among consumers who expect a unified view of available inventory across all real estate portals.
Keith Brand, a broker at Berkshire Hathaway HomeServices Chicago, highlighted the difficulty for first-time buyers in navigating the current system, stating, "When I’m working with a first time buyer who is just entering this world of finding properties, when they ask where to look on their own, there is no straightforward answer anymore." The syndication of coming soon listings differs by brokerage; HomeServices of America's listings appear on Zillow, while eXp Realty's go to ComeHome.com and Homes.com, though both now appear on Realtor.com.
To address buyer concerns about missing properties, agents like Brand are setting up alerts across multiple platforms. Twana Rasoul, a Compass agent in San Diego, noted that buyers often assume major portals show all available inventory, which is not the case. She stresses her responsibility to understand client needs and ensure they aren't relying on a single portal, comparing the process to how she works with investor clients who are accustomed to exploring various on- and off-market avenues.
Eric Johnson, a Compass agent and team leader in Boston, however, has not observed significant confusion among his clients, attributing this to his team's detailed training and the belief that consumers are adaptable. He feels buyers are actively seeking out platforms with more listings, stating, "At the end of the day, consumers understand who is giving them optionality in listing strategies and where they can find more listings. They are voting with their feet and going where the listings are."
Despite differing views on consumer impact, agents agree that the practice is changing home search behaviors. Brand acknowledged the growing concern of missing ideal properties marketed privately but believes most listings eventually appear on public sites. He also noted some agents touting access to "exclusive inventory" that others cannot see, which he feels can be an overselling tactic.
For sellers, the coming soon status offers flexibility. Johnson reports that about 90% of his listings begin this way, allowing sellers to prepare their homes or address repairs. He mentioned that while some homes sell during the coming soon phase, they are typically to buyers with agents from non-Compass brands. Under an agreement with Rocket Companies, Compass's coming soon listings are syndicated on Redfin, a feature clients appreciate for broader exposure.
Rasoul uses the coming soon status less frequently, preferring maximum exposure for listings. He noted that sellers interested in coming soon or private listings usually have privacy or safety concerns. Shawna Ader, a Windermere agent in Seattle, is evaluating the impact of Northwest MLS's new "First Look" status, which allows properties to be marketed publicly for up to 21 days without triggering days on market or public price history, and without diverting buyer inquiries from the listing broker.
