Property sellers should be aware of the potential pitfalls of “coming soon” signs

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DENVER — Usually the words “coming soon” are a good thing, but state regulators are now saying sellers in the housing market should be more aware.

Agencies such as the Colorado Real Estate Commission are reportedly concerned about brokers posting the signs and finding buyers before going public.

In turn, because the full marketplace doesn’t see the listing, the seller might not earn as much. Agents, on the other hand, might end up earning a commission from both the buyer and the seller.

One Realty realtors in LoHi say they are familiar with such a practice, but don’t see it often, by their competitors.

“The Denver Metro Association of Realtors has not taken a formal position on the ‘Coming Soon’ signs, but supports the Colorado Real Estate Commission in its position on this long-debated issue,” said committee chair Steve Danyliw. DMAR communications. “Ultimately, the goal is to safeguard consumer rights and follow the estate agent’s code of ethics. The recommendation is to be transparent, have a written agreement, and make sure the seller is fully aware of the implications of the various options for marketing the property.

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