Intermountain MLS Rules Orientation Online Component

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This is the IMLS Rules Quiz. As an IMLS member you are responsible for ALL THE RULES, not only the ones in the quiz. You can only move on to the next page with ALL CORRECT RESPONSES.

What kind of documentation is required to list a property in the Intermountain Multiple Listing Service? (Sec 1.1) *

5 points

a. Listing Agreement with ALL signatures

b. Cocktail Napkin with indecipherable writing

c. Post-it note from seller

d. Handshake

To enter a listing as NEW it must be at a new listing office OR have been off the MLS for 30 days or longer (Sec 1.1) *

5 points

a. True

b. False

Agents are REQUIRED to lease a key (or pay monthly for the app on your phone) from the MLS? (Sec 2.9) Choose the MOST CORRECT response. If more than one response is correct choose the multiple response option *

5 points

a. Yes - (this is the incorrect response- the video explains this)

b. No, it is not required by IMLS

c. Siblings can share a key - (also, incorrect)

d. Always - (nope, not this one either)

MLS Entry Only is the Listing Service type that indicates that a brokerage is ONLY entering the listing into the MLS and doing NOTHING else (except Idaho State Minimum Requirements) (Sec 1.2.1) * *

5 points

a. True

b. False

Sold Prices REQUIRED to be reported to the MLS for what kind of listing? (sold price data entered into Paragon) (Sec 2.5) *When more than one response is correct choose "Both" *

5 points

a. When the listing is entered after closing as an Unpublished Sold (listing had MLS Status Disclosure Form and was entered for comps purposes)

b. When the listing is entered into Paragon as a SOLD listing (not an office exclusive)

c. Both (this is the CORRECT answer)

What is the reporting time frame for A) changing the listing price, B) changing the status on a listing, and C) entering sold information on a listing? (Sec 1.4) * *

5 points

a. 72 Hours (READ THE RULE (THIS IS THE WRONG REPSONSE!)

b. Next Business Day

c. When you are ready

d. 4 hours (this is a wrong answer)

Intermountain MLS allows signs in listing photos (Sec 1) *

5 points

a. True

b. False

Listing photos should be of the property for sale and amenities of that property. Not photos of attractions. *

5 points

a. True

b. False

An Agent is allowed to share their Supra Lockbox key (Sec 2.9) *

5 points

a. True

b. False

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