There are some big changes coming to the Peoria Area Association of Realtors MLS service, starting in 2024! The biggest change will be the addition of a new “Coming Soon” status, that will be available for the public to see.
What this means is that you may be able to find out about a house and get a showing scheduled on it before it’s officially listed for sale on the open market. However, it does come with some caveats as well. While the “Coming Soon” status will allow you to know ahead of time about a house coming on the market, you will still have to wait until it’s officially listed for sale actively before you can actually see it in person. There are some very heavy handed fines for any agent that allows a showing during the coming soon status.
Not every house/seller/agent may opt to utilize this coming soon status however. The perceived plusses can mean a greater number of people may know about the house and be ready to see it the day it hits the market. The perceived negatives of going the Coming Soon route could also be a disruption of privacy, from neighbors or co-workers (non-buyers) knowing about and asking about the house before the seller is really ready to list it. Some homes list at a high price and sell right away, while some homes list at a high price-and the market responds negatively to the price-the longer that price is sticking to the house. So every situation will be just as different as each house, seller and buyer is as well.
We’ve had a similar Coming Soon status available in 2023, however it was only known to Realtors-it wasn’t publicly advertised, but it still had the same fines and penalties for Realtors that would allow a showing ahead of time, prior to it actually going live.