When using status-related rider signs on your listings— “New,” “Pending,” “Sold,” etc.—be sure to follow all Intermountain MLS (IMLS) and Idaho Real Estate Commission (IREC) rules that pertain to the property’s current status.
Keep in mind, regardless of what status you use on your rider sign, you must have the property in IMLS as a listing within 1 business day after you begin any public marketing and the rider sign must match the listing’s status in the MLS.
“NEW” and “JUST LISTED” Riders
These are fun to put up, aren’t they? These riders are appropriate for properties in the “New” (NEW) status in IMLS. We recommend keeping this up for two weeks after listing the home in IMLS to match how long it will be flagged as new. After two weeks, consider switching to an “AVAILABLE” or “FOR SALE” rider, or not using a rider sign.
“AVAILABLE” and “FOR SALE” Riders
These riders are appropriate for properties in the “Active” (ACT), “New” (NEW), or “Back on Market” (BOM) statuses in IMLS.
“NEW PRICE” Rider
Didn’t get the price right the first time? No worries. Price adjustments happen. This rider is appropriate for any property in the “Price Change” (PC) status in IMLS. We recommend you keep this up for two weeks after entering the new price in IMLS, to match how long it will be flagged. After two weeks, switch to an “AVAILABLE” or “FOR SALE” rider, or no rider.
“SALE PENDING” and “PENDING” Riders
These riders are appropriate for properties in the “Pending” (PND), “Pending Lease Purchase” (PLP) statuses in IMLS.
“SOLD” Rider
The BEST rider sign, amirite? This sign is only to be used after the sale has closed (properties in the “Sold” (SLD) status), although many agents use it in place of a “PENDING” sign. According to IREC, using a “SOLD” rider when the sale is pending or contingent could be considered misrepresentation of a property’s status. This is a fine-able offense, and while they don’t often cite licensees for it, don’t say we didn’t warn you. Play it safe and use a “PENDING” or “SALE PENDING” rider until after the home has closed.
“COMING SOON” Rider
Yeah, that one. When can you use it? How long can it be used? What do you need to do with IMLS to avoid a violation and fine? Great questions. Let’s dive into “COMING SOON” a bit more…
These riders are appropriate for properties that have been secured through a listing agreement and are being marketing prior to when showings begin. This rider sign can only be used after the listing has been uploaded to IMLS with an “MLS Status Disclosure” form included in the associated documents section of the listing.
After 14 days, this listing will automatically change to “NEW” at which point the rider sign will need to be updated or removed. Remember, agents MAY NOT show “COMING SOON” listings until they are marked as “NEW” or “ACTIVE” in the MLS.
Have questions? Please contact Kim Griffin, IMLS CFO/COO at kim@intermountainmls.com, or contact IREC Enforcement at 208-334-3285.
Need rider signs at a great price? Check out the REALTOR® store at the BRR office. We’re located at 9550 W Bethel Ct in Boise, and open Monday-Friday from 8:30 a.m.–5:00 p.m.
ADDITIONAL RESOURCES:
- IMLS Policies and IMLS Rules: imlsmembers.com/home.
- IREC Guidance #8: https://irec.idaho.gov/guidelines/guideline08.pdf
