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jane2516

Coming soon... (Good idea or bad idea?)

7 years ago

I need about one more month to fix up my house for sale. I am using this house as an opportunity to try a flip (even though I have lived here for decades). I spoke to a realtor several months ago who advised me on markets and upgrades. This is basically a starter home in a hot market, medium-sized, views, large-ish lot.


Since this may be listed in late September (which is actually a medium-hot tourist season - don’t know if it matters), I wonder if I should contact the realtor to start lining up prospective buyers. What I DON’T want is people snooping around my property while I am working on it. It is not presentable now, and the yard is the last thing I will work on. If people start hanging around (even if we don’t interact), I will feel pressured and panic and not make the date before winter sets in. (Winters are mild usually.) You cannot see the house very well from the street, and my concern is people will walk up the (short) driveway and that will freak me out since I am not presentable either when I am working on the house or yard.


I have a definite number in mind for price, toward the high estimate but less than realtor.com’s estimate. Price per square foot is competitive. I’m not planning to be very flexible on price as it may be more economical to rent or stay than to sell for a lower cost. (A part of me wants to stay anyway but for the right price I will leave, and personally I should probably leave.)


The main selling point of this house is the view. I can provide the realtor a picture of that (sans house). The house is just a house, although I am doing my best to make it clean, fresh and cute. (Sarah Richardson is my inspiration.) Think “contemporary cottage”. I have good taste - it’s just not traditional or lavish. So a qualification for buyers is that they want a view, move-in ready and “updated”. The rest of the info they can get from the off-market listing on zillow. No interior or exterior pics will be available until I finish, however the house is similar in structure and layout to several others in the area.


My gut is telling me wait until complete before I contact the realtor again, but I’m concerned about the more limited buyer pool in Fall. I assume there are young couples in condos who are are waiting for that perfect single family home to show up. Those are the ones who would love this house. (It’s a pretty good party house too.)


What do you think - wait or tell the realtor it’s “coming soon”? (I assume she’ll get the word out, and I could also do a “make me move” edit on zillow.)


Can I tell the realtor to not disclose the address until it is ready to list?


(Sorry, I know I should figure this out on my own, but my head is full of reno details....)

Comments (9)

  • 7 years ago

    "Coming soon..." is an excellent excitement-generating tool if used properly. Used too soon, buyers get annoyed by the waiting. Used too close to the listing going live, it's worthless. In your case, until you've completed the exterior (curb appeal) work, I'd hold off using this tactic. When you're to the point where you just have 4-5 days of minor interior prep to complete (and when the yard is done), is when the "Coming Soon..." approach would be appropriate and helpful in drawing attention to your property.

    Jane thanked jewelisfabulous
  • 7 years ago

    I doubt most would wait long on purchasing something else strictly on a photo of a view, and no idea about the house. If they don't drive by to look, they are going to google whatever old street/aerial view is available. And how those images come across, is going to be their impression of your property when you do present it. Even if it has been fixed up to be fabulous, they may remember what it used to look like and wonder if the work was make-it-look-good flip, or quality. That isn't what you want them to be thinking about during a walk through.

    I like a good puzzle challenge. A photo sans listing address, I would try to figure out the property from the view photo features just for fun. Providing house size and details, sans address, just makes that all the easier. Not providing those details, and people will assume the odds are that the house wouldn't be the proper size, BR/BATH etc. to wait.

    Jane thanked gyr_falcon
  • 7 years ago

    Personally, I find real estate hype to be annoying.

    I laugh at months-old listings that claim "HURRY! THIS ONE WILL BE SNAPPED UP QUICKLY!".

    Jane thanked gyr_falcon
  • 7 years ago

    Thanks Everyone. Bad idea for me, as I thought.

  • 7 years ago
    last modified: 7 years ago

    You came to the right conclusion. Don't do an extended "coming soon". I am a Realtor and I don't put properties in the market until the work is done and professional photos are completed. Nothing sells like photos especially when you have a view. Coming out too early will hurt you. Coming soon is for a matter of a couple of days...not weeks.

    This is when that old saying really has meaning: First impressions count.

    Jane thanked Denita
  • 7 years ago

    I hope you aren't pricing based on realtor.com's 'estimate". You seem to have an agent. Have you discussed prices with her and gotten a market analysis? Have you interviewed three agents for market analyses? I think you need to take a step back and talk to the agents today. A lot of the flip work you intend to do may be very unnecessary if your market is indeed hot.

    Jane thanked sushipup1
  • 7 years ago
    last modified: 7 years ago

    One more comment: 'flip' has a negative connotation. It implies that you bought the home very recently and completed cosmetic changes and expect a big profit. You have something much better - you have lived in the home for decades. That is a good thing. Don't denigrate yourself by calling it a flip.

    Agree with sushipup about the automated valuations seen online. They don't replace what an excellent Realtor can provide to you for actual comps in a well prepared market analysis. The automated valuations do not take into account many factors including view, condition, location (proximity to negative/positive elements) and in some cases they do not take into account the property type! Yep. I've seen condo's compared to SFR's in those automated valuation algoriums - not accurate and not something you want to see in your market analysis.

    Jane thanked Denita
  • 7 years ago
    last modified: 7 years ago

    Deciding upon the realtor and getting them involved early is not early marketing. What the realtor can do for you at this stage is help you determine the best use of your time, effort and money. Go ahead and get them involved. Just don't market it until you are ready.

    I've got a friend that I introduced to my favorite realtor two years ago. It's taken two years for my friend to get to the point where he is ready to market his long term home. Now that he's ready, he just experienced a burst pipe in the home. Multiple baths will need to be gutted and repaired. The good news is insurance will pay for the updating of the baths. The realtor is supervising all of the repairs. The owner went to Greece for a few weeks. That's good customer service.

    My point is, get the realtor involved. They will help you get things done in the right places.

    Jane thanked homechef59