DRE Weighs In on “Coming Soon” Advertising: “Be Sure to Maintain Fiduciary Responsibility for Your Client or Face Civil and Regulatory Liability”

The Department of Real Estate has included in its 2018 Winter Real Estate Bulletin, an article which discusses the risks of “Coming Soon” marketing. It includes a statement of the DRE’s view of “best practices” for listing agents including: 

  • Market the property via multiple listing service or other broad advertising means. 
  • Make sure the seller agrees to and understands how the property will be marketed.
  • If using a “Coming Soon” strategy, do not accept and act on offers until a property has been broadly marketed. 
  • If the property will not be fully marketed, obtain prior written permission from the seller that demonstrates they understand that such a “Coming Soon” strategy may not result in receiving the best sales price. 
  •  Avoid double-ending a property that is not fully marketed—it is best to refer potential buyers to another agent. 

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