How RLS pre-market rules work, who gets first access, and what the national legal battle means for NYC buyers.
In March 2025, Manhattan had 8,037 units for sale, up 4.5% year-over-year, yet sales volume jumped 9.5% to 3,466 closed deals. The buyers who moved fastest were not refreshing StreetEasy at midnight. They were already inside properties before those listings ever went active. NYC's Coming Soon system, governed by RLS (REBNY Listing Service) rules, is the reason why.
In my 25+ years selling properties across all five boroughs, I have watched Coming Soon status shift from a low-traffic industry practice to one of the most strategically important tools in a buyer's playbook.
RLS allows properties to be listed in "Coming Soon" status for up to 21 calendar days before transitioning to Active. During that window, the listing is visible to RLS member agents and their buyer clients, but operates under strict guardrails.
Under RLS rules, any property that receives public marketing (yard sign, social media post, broker email blast) must be entered into the RLS system within 24 hours. This is called the One-Day Rule. It prevents sellers and agents from quietly shopping a property to hand-picked buyers while keeping it off the broader market.
| Activity | Coming Soon | Active |
|---|---|---|
| Private showings (buyer rep present) | Allowed | Allowed |
| Open houses (public) | Not Allowed | Allowed |
| Accepting offers | Not Allowed | Allowed |
| Visible to RLS member agents | Yes | Yes |
| Co-brokerage required | Yes | Yes |
| Maximum duration | 21 days | Until sold |
The key point: you can tour a Coming Soon property through your buyer's agent. You cannot make an offer until the listing goes Active. The 21-day window gives you time to see the property, get your financing in order, discuss terms with your attorney, and be ready to move the moment it flips status.
Compass sued the Northwest Multiple Listing Service (NWMLS) in 2024, arguing that MLS rules forcing listings onto the open market within one day of marketing violated antitrust law. The DOJ investigated NAR's Clear Cooperation Policy on similar grounds.
NYC's RLS framework sits in a distinct position. It requires a 24-hour entry rule but offers a structured 21-day pre-market window. It threads the needle between total off-market secrecy and immediate full exposure. For NYC buyers, this means the rules are unlikely to get looser.
Get early access to NYC properties before they hit the open market
73-12 35th Avenue #D53
Jackson Heights
264 E BROADWAY #C2003
Lower East Side
Listing information provided courtesy of the Real Estate Board of New York's Residential Listing Service (RLS). Information is deemed reliable but not guaranteed. Sale listings verified. ©2026 REBNY. RLS data displayed by Keller Williams NYC.
For co-ops, researching the building during the pre-market period is valuable because board timelines add 60 to 90 days to any transaction. See the NYC Buyer Guide for the full co-op due diligence checklist.
Milton Coste monitors RLS pre-market inventory daily across all five boroughs and cross-lists on Zillow Coming Soon and StreetEasy pre-market feeds.
Schedule a Free Buyer ConsultationUnder 2025 REBNY guidance, buyer's agents must have a signed Buyer Representation Agreement before showing any property, including Coming Soon listings. If an agent offers to show you a property without discussing representation first, that is a compliance issue.
For buyers who want to understand what the Washington Heights or other NYC neighborhoods look like in terms of Coming Soon inventory and current pricing, the market reports pull live data from the RLS feed.
See Active and Coming Soon NYC Listings
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Get early access to NYC properties before they hit the open market
330 E 38TH Street #47Q
Murray Hill
31 Nagle Avenue #3-H
Washington Heights
235 Arlington Avenue
East New York
Listing information provided courtesy of the Real Estate Board of New York's Residential Listing Service (RLS). Information is deemed reliable but not guaranteed. Sale listings verified. ©2026 REBNY. RLS data displayed by Keller Williams NYC.
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Disclaimer: All information provided in this article is for educational purposes only and does not constitute legal, financial, or real estate advice.
Listing data sourced from the REBNY Residential Listing Service (RLS). Information is deemed reliable but not guaranteed.
Milton Coste is a Licensed Real Estate Associate Broker affiliated with Keller Williams NYC,
360 Madison Avenue, 9th Floor, New York, NY 10017. License No. 10301213304.
Equal Housing Opportunity. This advertisement complies with New York State Department of State regulations
governing real estate advertising. © 2026 Milton Coste. All rights reserved.
Image Disclosure: Header images on this blog are AI-generated editorial illustrations and do not depict specific properties for sale or rent.
Milton Coste
Licensed Real Estate Associate Broker · Keller Williams NYC
License No. 10301213304 · 360 Madison Avenue, 9th Floor, New York, NY 10017
