Zillow Inc. has announced the introduction of Coming Soon inventory to its home shopping experience on mobile and the Web. Now, for the first time on Zillow, home shoppers can search for and find homes that are not yet on the market, but expect to be listed for sale within 30 days.
In competitive markets, where inventory moves quickly and bidding wars are common, access to Coming Soon inventory gives home buyers an important leg up. Buyers interested in a Coming Soon property are able to line up their agent and get pre-approved in order to move quickly to place an offer once the home is listed for sale. Additionally, buyers now have an even more comprehensive view of regional housing inventory, and are able to make a more informed evaluation of current for-sale properties against what will soon be available.
Home shoppers can choose to see Coming Soon inventory when searching within a neighborhood or city on Zillow, simply by choosing "Coming Soon" in the search filters. Shoppers will see Coming Soon listings on the map alongside traditional listings. Buyers and their agents interested in Coming Soon properties are able to directly connect with listing agents through the contact form alongside the listing.
Similar to a Coming Soon sign in the yard of the physical property, displaying a home as Coming Soon on Zillow helps agents and their sellers gauge buyer interest and test the list price against current market conditions, and can help reduce the total time a home is on the market. It also provides unparalleled marketing exposure to the more than 81 million home shoppers who visit Zillow every month.
"Zillow is committed to giving buyers access to inventory that was previously hard to find, so they can make better decisions," said Jeremy Wacksman, vice president of marketing and product management at Zillow. "By offering a glimpse into a market's future housing inventory, home shoppers can rest assured they have the broadest possible view of the local market to find the right home, and sellers can feel confident their home is being marketed as widely as possible."
Coming Soon is an exclusive marketing feature specifically for Zillow Premier Agents or brokerages and MLS's that have a direct feed to Zillow. Premier Agents can list a home as Coming Soon through a new landing page. Properties will instantly be converted to "for sale" once the homes are officially listed for sale in the local MLS.