Why is the "Coming Soon" marketing period so important to a seller?
As a seller, if your expectations aren't being set, it's a recipe for disaster. I like to call it "the emotional rollercoaster". In today's market most sellers are expecting the moon and the stars.
➡️Scenario 1 - A seller expects multiple offers and that doesn't happen
This becomes a huge letdown and after 4-5 days homeowners tend to go to doom and gloom. This is why taking advantage of a "Coming Soon" marketing period helps. Sellers will get a feel ahead of time what the activity level will be on day 1 - "The day door opens for showings".
➡️Scenario 2 - A seller receives multiple offers
I like to say this is a good problem. The reason it may be a problem is because sellers may not know how to react. What's the right move? Who is the right buyer? When should we respond? Again this is why taking advantage of the "Coming Soon" marketing phase is so critical
If executed properly, the "Coming Soon" marketing phase essentially builds up momentum before you actually start shwoings. How does this help?
💡It gets the most amount of buyers in the door in the shortest period of time
💡Coming Soon allows buyers to drive by ahead of time to make sure they like the property
💡Gives time for the buyer to do their due diligence before they even step foot in the door. Running scenarios at different price increments with the mortgage lender proves to be extremely valuable
Most importantly if there is high interest and buyers only have a day or two to make a decision, the coming soon time period allows the buyers to work out all of their kinks and anxieties in advance. This typically leads to less buyer remorse and a smoother transaction for everyone. Oh and it gets the seller the best deal.