Coming Soon is used to describe a property status when a listing agreement has been signed with a listing broker but the property is not officially for sale. Coming Soon properties may be marketed by a broker to generate interest ahead of an official listing. A Coming Soon status is often advertised on a sign as a means of attracting attention to a home about to be listed. The Coming Soon status is more popular when market conditions heavily favor sellers, and it's possible to pre-sell a listing.
Some websites, such as Zillow, allow properties to be listed as Coming Soon. Some MLS services also allow Coming Soon listings, but many– including the Austin MLS– do not. The Austin MLS allowed Coming Soon listings until summer 2018, at which time the Austin Board of Realtors removed the status.