Coming Soon Signs

Ontario

Question:

Can you explain these “Coming Soon” signs I’m seeing all over the place?

How does that work? Are the contracts post-dated, but the sellers allow the sign on their lawn beforehand? It seems like a strange practice to me.

Answer:

The Listing agent will take an exclusive listing before the MLS listing starts. This will give the Seller the opportunity to fix up the property.

The “coming soon” reference means coming soon to MLS. Properly the Listing agent should cover up any MLS logo on the sign, since the property is not indeed on MLS at all.

The real underlying purpose is to provide the Listing Agent with an opportunity to double-end the deal by picking up potential buyers in the neighbourhood.

Regulations are local in nature by the local boards. They are the ones concerned about the possible abuse of the MLS Logo etc.

Brian Madigan LL.B., Broker

www.OntarioRealEstateSource.com