Use these ten tips when listing property under Coming Soon-No Show (CSNS) status to ensure you are using the status correctly:
1. Publicly marketing a listing as “coming soon” requires that the listing be entered into MLS as Coming Soon-No Show (CSNS). The Clear Cooperation policy requires that within one (1) business day of marketing a property to the public, the listing broker must submit the listing to the MLS for cooperation with other MLS participants. Public marketing includes, but is not limited to, flyers displayed in windows, yard signs, digital marketing on public facing websites, brokerage website displays (including IDX and VOW), digital communications marketing (email blasts), multi-brokerage listing sharing networks, and applications available to the general public.
2. While the listing is in CSNS status, the Marketing/Active Date can be changed at any time to make the coming soon period shorter or longer as long as the date stays within the original 21-day window.
3. Listings in CSNS status must receive seller approval. Use the Canopy MLS Coming Soon-No Show seller authorization form.
4. Change the listing to Active if a showing must occur before the Marketing/Active Date.Showings and open houses are not permitted while a listing is in CSNS status, and a violation of this policy carries a $1,000 fine to the listing agent.
5. CSNS listings CAN be publicly marketed. CSNS listings ARE included in data feeds for display on IDX and VOW websites and mobile apps, but CSNS listings ARE NOT provided to syndication sites such as CarolinaHome.com, realtor.com®, ListHub sites, etc. CSNS listings ARE included in auto-emails and displayed on the OneHome client portal. Listing agents ARE allowed to advertise CSNS listings on the Internet and social media.
6. Appointments can be made in advance with ShowingTime for the first day of showings. If the listing is activated before the date specified as the Marketing/Active Date, the listing agent should send an announcement to the agents with pre-scheduled appointments.If the Marketing/Active Date gets extended and the listing remains in CSNS status, the listing agent must cancel and reschedule all showing appointments before the new Marketing/Active Date. ShowingTime will not “auto-cancel” the pre-scheduled appointments. Avoid putting a lockbox on the house until showings start. If you must put a lockbox on the house before showings start, then you should withhold showing instructions in confirmation emails until showings start. We suggest using this statement in the showing instructions field: “On the day of your showing, check your ShowingTime app for access instructions or call ShowingTime.”
7. Talk to the listing agent if your buyers are interested in a property that is in CSNS status. It is a hard market for buyers, and the buyer’s agent must set expectations. Make sure the buyer is ready with an offer to purchase and due diligence fee. Some buyers are willing to put in offers sight unseen, and a seller can accept an offer from a prospective buyer even if the property is not available for showing. Staying educated and being trained is key. Are you effectively using all the technology tools, apps, and training included in your member benefits? Sign up for free classes offered by Canopy MLS. Also, read stories from NC REALTORS®, the National Association of REALTORS®, and Inman News. They publish many tips for buyers in a tight housing market.
8. If the listing has multiple showings scheduled for the Marketing/Active Date, maybe the seller shouldn’t jump on the offer that is sight unseen.Accepting an offer while the listing is in CSNS status could circumvent other potential offers from prospective buyers who are waiting for the listing to become active and for the property to be available for showing. If the seller is calling for all offers to be submitted by a specific date, consider following these tips (with the seller’s permission) to ensure thorough communication with all agents who have prospective buyers interested in the listing:
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- Publish the deadline for offers in the Public Remarks of the listing.
- Send a blast email to everyone with a potential interest in the property. ShowingTime provides a tool to email all agents with a past or future appointment to show the property.
- Use the Reverse Prospecting tool in Matrix to notify agents whose buyers’ search criteria match the listing.
9. If the listing does go under contract while in CSNS status, the listing brokerage must change the listing status within two business days, and before the property can be shown to the contracted buyer.
10. If you have a concern about a missed opportunity because a property went under contract quickly after entry in the MLS, it is not necessarily a violation, but you can report the issue to compliance@canopyrealtors.com.