I say hype.
I think it is more about winning listings than getting top dollar for the house. It’s something you tell a seller in a listing presentation to make them pick you over another realtor, who isn’t going to sort of put your house on the market but not let anybody see it for up to a week.
The thought is that during the time between posting that the listing is coming soon and when it is available to show, you will be building a frenzy of buyers who will all see it the first day on the market and it will sell in multiple offers for top dollar.
Sounds good, right?
Well, that is already happening with just about every house that is appropriately priced.
In a hot market where there are more buyers than sellers, the “Coming Soon” approach is sort of like telling a bunch of piranhas that you are going to throw raw meet at them next week……whether you throw it now or later, the results are the same.
I think the “Coming soon” thing would work best in a slow market when you need to create a buzz around a listing to make it stand out.