What Is a Coming Soon Listing?

A Coming Soon listing is a home that has been entered into the Multiple Listing Service (MLS) but is not yet ready for showings. The seller may still be preparing the property by scheduling professional photography, completing last-minute repairs, cleaning, staging, or waiting until a specific date before allowing visitors.

The goal is to let buyers know the home will soon be available without allowing anyone an unfair advantage.

Can You Tour a Coming Soon Home?

No. While a home is in Coming Soon status, it cannot be shown to buyers.

This rule is designed to ensure every buyer has an equal opportunity to see the property once it becomes active. Under MLS Clear Cooperation policies, real estate professionals cannot privately show or market homes outside the established rules.

Can You Make an Offer Before It Goes Active?

Yes. In some cases, a buyer can submit an offer before the home officially becomes active.

Whether the seller accepts that offer is entirely their decision. Some sellers choose to accept a strong pre-market offer to avoid multiple showings and the inconvenience of having their home on the market.

If your offer is accepted, the property may never become an active listing.

Always Include Important Contingencies

If you purchase a Coming Soon home, your offer should still include important protections such as:

• Home inspection contingency
• Appraisal contingency

These contingencies help protect you if significant issues are discovered after your contract is accepted. Keep in mind that a home inspection is an out-of-pocket expense and often costs $600 or more, depending on the home's size and additional features such as pools or detached buildings.

Respect the Seller's Privacy

One of the biggest mistakes buyers make is visiting a Coming Soon property without permission. Never enter a backyard, look through windows, or walk onto private property without authorization. Always work through your REALTOR® to obtain information and submit offers properly.

Does Coming Soon Help a Home Sell Faster?

The answer depends on the property.

A unique home in a desirable neighborhood that's priced correctly may generate significant excitement before going active. However, a new construction home competing with several similar homes may see little benefit from a Coming Soon marketing strategy.

Every situation is different, and the best approach depends on the home's location, condition, and market demand.

If you have questions about Coming Soon listings or you're buying or selling a home in Middle Tennessee, I'd be happy to help you understand your options and navigate today's market.

Start With Curb Appeal

First impressions matter. Buyers often decide how they feel about a home before they even walk through the front door.

A few easy ways to boost curb appeal include:

• Mowing the lawn regularly
• Trimming bushes and trees
• Planting fresh flowers or adding mulch
• Pressure washing the driveway and sidewalks
• Painting or cleaning the front door
• Replacing old house numbers or outdoor lights

A clean and welcoming exterior makes buyers excited to see the inside.

Declutter and Deep Clean

One of the easiest and cheapest ways to increase value is simply making your home look clean and organized.

Remove extra furniture, personal items, and clutter from countertops and shelves. Buyers want to picture themselves living in the home, and too much stuff can make rooms feel smaller.

Deep clean everything, including:

• Baseboards
• Windows
• Floors
• Bathrooms
• Kitchen appliances
• Ceiling fans and light fixtures

A spotless home gives buyers confidence that the property has been well cared for.

Add Fresh Paint

Fresh paint can completely change how a home feels. Neutral colors help rooms look brighter, larger, and more modern.

Popular paint colors before selling include:

• Soft white
• Light gray
• Beige or greige
• Warm neutral tones

You do not need bold or trendy colors when selling. Simple and clean works best for attracting more buyers.

Update Lighting

Good lighting can make a home feel warm and inviting.

Consider:

• Replacing outdated light fixtures
• Adding brighter LED bulbs
• Opening curtains and blinds for natural light
• Cleaning light fixtures and ceiling fans

Even small lighting updates can give your home a more modern feel without spending a lot of money.

Focus on the Kitchen

The kitchen is one of the biggest selling points in any home. You do not always need a full remodel to make a difference.

Affordable kitchen improvements include:

• Painting cabinets
• Updating cabinet hardware
• Replacing old faucets
• Adding a new backsplash
• Updating light fixtures
• Replacing worn countertops if needed

A fresh and updated kitchen can add major appeal for buyers.

Refresh Bathrooms

Bathrooms are another important area buyers notice quickly.

Simple updates can include:

• Replacing mirrors or light fixtures
• Re-caulking tubs and sinks
• Adding fresh towels and accessories
• Updating faucets
• Painting cabinets or vanities

Clean, bright bathrooms help homes feel more move-in ready.

Fix Small Repairs

Minor issues may seem small, but buyers notice them.

Before listing your home, fix things like:

• Leaky faucets
• Squeaky doors
• Loose handles
• Cracked tiles
• Running toilets
• Holes in walls
• Burned-out light bulbs

Small repairs help prevent buyers from wondering if bigger problems exist.

Make the Home Feel Spacious

Buyers love homes that feel open and airy.

To create more space:

• Remove oversized furniture
• Rearrange rooms for better flow
• Store extra items in closets
• Use light-colored décor
• Keep windows uncovered when possible

The larger your home feels, the more attractive it becomes.

Improve Energy Efficiency

Energy-efficient homes are appealing to many buyers because they can help lower utility costs.

Simple upgrades might include:

• Adding a smart thermostat
• Replacing old air filters
• Sealing drafty windows or doors
• Installing LED bulbs
• Servicing the HVAC system

These improvements can make buyers feel more confident about the condition of the home.

Stage Your Home

Home staging helps buyers emotionally connect with the space.

You do not necessarily need a professional stager. Simple staging tips include:

• Adding fresh flowers
• Using cozy pillows and blankets
• Setting the dining table
• Keeping rooms bright and tidy
• Adding welcoming scents like vanilla or citrus

The goal is to make your home feel warm, inviting, and move-in ready.

Work With a Local Real Estate Professional

One of the best ways to increase your home’s value is getting advice from someone who understands your local market.

A real estate professional can help you decide:

• Which updates are worth doing
• What buyers in your area want most
• How to price your home correctly
• How to market your home effectively

Not every upgrade adds value, so it helps to focus on improvements that give you the best return.

Final Thoughts

You do not need to spend a fortune to increase your home’s value before selling. Often, the biggest difference comes from simple improvements like cleaning, painting, decluttering, and making small updates.

When your home looks cared for, bright, and move-in ready, buyers notice. And in many cases, those small efforts can lead to stronger offers and a smoother sale.

If you are thinking about selling your home in Middle Tennessee, now is a great time to start preparing and making your home shine.

As of August 17, 2024, Realtors are no longer allowed to show any paid fee (compensation) for the buyer's Realtor in the Realtor's MLS system. This does not mean fees are not being paid. It just can't be advertised on the MLS system. It can however be advertised anywhere else the seller chooses. This rule is not being placed on sellers, it is being placed on REALTORS, and for now, ONLY in the MLS system. Listing Realtors can however advertise seller paid concessions in the MLS system. Concessions may or may not be used for compensation.

What is Compensation?

Compensation is the amount of money paid to a Realtor for the work they do to get a property marketed, under contract and closed, whether you are the listing agent or the buyer's agent. This is money that is being paid to the Realtor's brokerage for work the Realtor does. Simply showing a property does not get a deal to closing. There is a lot more work that is done behind the scenes where most buyers and sellers have no idea what is actually being done.

Sellers have already agreed on an amount they are willing to pay to their listing agent prior to listing their home. As an incentive to possibly sell their home faster, the seller may also offer to pay concessions for the buyer. Examples of concessions include; closing cost, pre-paid loan interest, pre-paid taxes, points, interest rate buydowns and yes, the buyer's Realtor fee.  It is up to the BUYER to decide how they want to use the concessions that are being offered by the seller, if any. If the seller offers zero concessions, it makes it harder and maybe less desirable in terms of cash for a buyer to purchaser their property.

The Department of Justice made an agreement with the National Association of Realtors that went into effect on August 17, 2024 mandating that no property can be shown by a Realtor without a Buyer's agreement PRIOR to showing. It must be determined up front prior to any showing what amount the buyer is paying the Realtor. The buyer can also stipulate in this agreement for the buyer's Realtor to not show the buyer any homes unless the seller is offering concessions on that home. This would be done in cases where the buyer does not have the money to pay, or wants to save their own money to purchase to obtain a better interest rate, buydown cost, etc.

Regardless of what is being offered or not, as always, compensation, concessions, prices, appliances, outbuildings and furniture have been and always will be negotiable in every deal.

For questions about compensation, please click the link and Georgia will answer your questions.  CLICK HERE

How a 0.5% Drop in Interest Rates Affects a $450,000 House

Interest rates are a critical factor in the cost of homeownership. A change in interest rates can significantly impact your monthly mortgage payment and overall financial situation. Let’s explore how a 0.5% reduction in interest rates affects a mortgage for a $450,000 home, starting from a higher initial rate of 7%.

The Scenario

Imagine you’re looking at a mortgage with these terms:

Loan Amount: $450,000

Initial Interest Rate: 7.0%

Term: 30 years

With these parameters, your monthly mortgage payment (excluding property taxes, insurance, and other potential fees) would be approximately $2,994.

The Impact of a 0.5% Rate Reduction

Now, let’s see the difference if the interest rate drops by 0.5%:

New Interest Rate: 6.5%

Loan Amount: $450,000

Term: 30 years

With the reduced rate, your monthly payment would be around $2,844.

Monthly Savings

The difference in your monthly payments between a 7.0% and a 6.5% interest rate is about $150.

Over the course of a year, this translates to:

Monthly Savings: $150

Annual Savings: $1,800

Long-Term Financial Impact

The long-term effects are also worth noting:

Total Interest Paid: At a 7.0% interest rate, you would pay approximately $788,200 in interest over the life of the loan. With a 6.5% rate, this amount drops to about $731,600.

Total Savings in Interest: You save roughly $56,600 over the 30-year term.

Additional Considerations

Refinancing Costs: If you’re refinancing an existing mortgage, be mindful of closing costs and fees. Ensure that the savings from a lower interest rate outweigh these initial expenses.

Market Conditions: Interest rates are influenced by broader economic factors. Stay informed about market trends and consult with a financial advisor to make well-informed decisions.

Personal Finances: A lower monthly payment can provide additional flexibility in your budget, allowing for more savings or investments.

Conclusion

A 0.5% reduction in interest rates can significantly benefit homeowners or buyers of a $450,000 house. With lower monthly payments and substantial long-term interest savings, this adjustment can have a positive impact on your finances. By carefully evaluating the benefits and any associated costs, you can make strategic decisions that enhance your financial well-being.

Understanding how interest rate changes affect your mortgage can help you take advantage of favorable conditions and manage your home loan more effectively.

If you average the most recent projections from the major industry forecasters, the expectation is home prices will increase by 7.7%. Let us take a house that is valued today at $325,000 as an example: If the buyer makes a 10% down payment ($32,500), they’ll end up borrowing $292,500 for their mortgage. Applying the projected rate of home price appreciation, that same house will cost $350,025 next year. With a 10% down payment ($35,003), they would then have to borrow $315,022. Therefore, because of rising home prices alone, a prospective buyer will have to put down an additional $2,503 and borrow an additional $22,523 just for waiting a year to make their move.

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