Coming Soon Listings – Frequently Asked Questions

Q: What is a Coming Soon Listing?

A: A Coming Soon Listing status is being put in place to allow a designation for those properties that are under a valid listing agreement but may require more time to prepare for the market.

Q: Why are we doing Coming Soon Listings?

A: To allow for modern industry marketing practices but structure them in such a way that we minimize potential ethical or legal problems for brokers and their licensees. It can help reduce a common complaint that the listing Broker is limiting exposure of the property on an open market strictly to get both sides of a transaction.

Q: Will everyone in the MLS have access to the listing data while in a Coming Soon Status?

A: Yes. Coming Soon Listings will be searchable. When searching you will see an additional status titled Coming Soon. These listings will contain the same data you currently receive on all Active listings. Since Coming Soon Listings are found on a wide array of electronic outlets, it is best that all members have as much data on those properties, including the anticipated start date.

Q: Will there be additional documents required to use the Coming Soon status?

A: Yes. First, you MUST have a signed Listing Agreement. Second, you MUST have a signed Coming Soon Listing Addendum to Exclusive Right of Sale Listing Agreement on file. This information may be requested by MLS staff during random audits or upon notification that a property is being advertised or has a Coming Soon sign and is not in the MLS.

Q: How does the Coming Soon Listing Addendum differ from the Seller Waiver Addendum to the Listing Agreement?

A: The “Coming Soon Listing Addendum To Exclusive Right Of Sale Listing Agreement” is used for properties that are still in the preparation phase of going on the market, such as waiting for professional photos, establishing a marketing plan, re‐painting, etc. The “Seller’s Waiver Of Entry Into The NEFMLS Addendum To Exclusive Right Of Sale Listing Agreement” is to be used only for those properties that will not be in the MLS for the entire term of the listing agreement.

You may use the “Change Authorization Amendment to Exclusive Right of Sale Listing Agreement” to amend the listing agreement should the Seller change their mind at a later date and want the home listed in the NEFMLS system.

Q: Is there a limit to the number of days a listing can be in the Coming Soon status?

A: Yes. A listing may be in a Coming Soon status for 14 days.  The same listing can be extended for another 7 days but you must submit a “Change Authorization Amendment to Exclusive Right of Sale Listing Agreement” signed by the seller to Technical Support at support@realtyweb.net who will then complete the extension. After the 7 day extension, the listing must go Active in the MLS system.

Q: Can the property be shown during the time it is in a Coming Soon status?

A: No. A Coming Soon Listing cannot be shown or sold by any party, including the listing brokerage, until after the listing status has been changed to Active. It would be a violation of the Rules & Regulations that have been set for Coming Soon Listings. Violation of this rule will result in an automatic Major Fine not to exceed

$15,000. If you are aware that a property is being shown while in the Coming Soon status, it should be reported to the MLS via the Report Violation button.

The NEFMLS reserves the right to remove any Coming Soon Listing at any time or implement a fine if members are found to be in violation of these Rules, Code of Ethics, or Florida Real Estate License Law.

Q: What if my buyer wants to submit a Purchase and Sale Agreement on the property, sight unseen?

A: Since the listing is NOT Active in the MLS you would not be guaranteed compensation unless you receive a guarantee in writing from the Listing Broker. NEFMLS could not support your right to compensation.

Q: Is this creating a POCKET listing or a way to circumvent other NEFMLS policies or rules?

A: NO! It may actually deter pocket listings. Sharing listing information and assurance of compensation have always been two of the most appealing uses of the MLS. Plus, you are still required to comply with MLS Rules & Regulations and you have an obligation to act in the best interest of your clients.

Q: Can a broker list the same property as Coming Soon more than once?

A: No. Listing Brokers will be restricted from re‐listing the same property as a Coming Soon Listing until 45 days past the Expiration Date. However, this does not apply to a new Listing Agreement with a different agent, office, broker, or company.

Q: What about Days On MLS?

A: Days On MLS will begin calculating from the date the listing actually goes Active on the MLS system.

Q: Can I make it Active before the 14‐day time frame?

A: Yes. Should you choose to go active sooner than the 14 days, you may change the Start Date.

Q: Can I add photos/documents, etc. to the listing while in a Coming Soon status?

A: Yes, and we encourage you to do so. This way, your listing is ready to go Active with all of the promotional materials and documentation that you deem necessary to market the listing.

Q: Will Coming Soon Listings be sent out in the Subscriptions to my customers?

A: No. The Coming Soon Listings will not be included in your Subscription searches until they become Active in the MLS.

Q: Can I get Coming Soon on my website?

A: No. We will not be distributing the Coming Soon Listings via IDX or to any third party websites.

Q: Can I still advertise the Coming Soon on a third party website?

A: Yes. By providing these guidelines for Coming Soon Listings, you can be assured that you are advertising your Coming Soon Listing and still be in compliance with Rules, the Realtor Code of Ethics, and Florida