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NAR: "Coming soon" properties can create consumer confusion

Jun 17, 2014
The National Association of REALTORS (NAR) has published information for members regarding advertising properties as “coming soon.” 

Some "coming soon" advertisements involve unlisted properties which may or will be listed with a broker in the near future, while others relate to properties that are subject to listing agreements where property is available to potential purchasers only through the listing broker and not available, temporarily or indefinitely, for showing or purchase through other MLS participants. In either case, "coming soon" properties are commonly withheld from the MLS.

"The first important step in advising a seller-client on whether to advertise a property as 'coming soon' is to identify the client's best interests, as defined by that client," said NAR General Counsel Katie Johnson. "Failing to act in the client's best interest and failing to disclose the pros and cons of a limited marketing plan, such as 'coming soon' advertising, can violate state real estate license laws and regulations, MLS policies, and the Realtor Code of Ethics."

To read more from NAR, click here.
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