Accurate and consistent listing information is crucial for both agents and potential buyers. To ensure transparency and accurate data, Intermountain MLS has specific rules regarding changes in listing status and the calculation of Cumulative Days on Market (CDOM).
Back on Market vs New Listings
When a listing transitions to an off-market status (such as expiration or cancellation) and is relisted within a 30-day period, it should be classified as “Back on Market” rather than “NEW” unless there has been a change in brokerages. This rule prevents properties from appearing as new listings multiple times in quick succession, maintaining clarity, and preventing confusion among potential buyers and agents.
Continuous Accumulation of Days on Market
Regardless of any changes in brokerages, if a listing is taken off the market (expired or cancelled) and subsequently relisted within a 30-day timeframe, the days on market will continue to accumulate. This rule ensures that the market history of a property remains intact, providing accurate information to potential buyers, agents and preventing artificial resetting of the days on market counter.
Violations and Corrective Actions
Any listings that fail to comply with the guidelines outlined in this section will be considered violations. Such violations will be classified as Level 1, and the responsible parties will be required to rectify the non-compliance within the specified time frame. This promotes adherence to the rules and policies while maintaining the integrity of the Listing data.
Cumulative Days on Market (CDOM)
The Cumulative Days on Market (CDOM) refers to the total number of days a property has been listed on the Multiple Listing Service (MLS), regardless of any changes in status or brokerage. CDOM does not reset until a property has been off the MLS for over 31 days. It is important to note that CDOM is hard-coded in the listing and cannot be altered, ensuring accurate information about a property’s market exposure.
IMLS Policy
The IMLS policy states that a property can be relisted as NEW at the same brokerage, but the Cumulative Days on Market won’t reset until 31 days have passed.