“Coming soon” is an MLS-defined term and not defined by the Code of Ethics. Therefore, the Code of Ethics does not address the specific number of days a property can be listed as “coming soon.” According to the Bright MLS Rules and Regulations, listings are limited to 21 days in the coming soon status, except for new construction, condo conversions and major renovations for which there is no occupancy (e.g. no active certificate of occupancy).

However, Article 12 says, “Realtors® shall be honest and truthful in their real estate communications and shall present a true picture in their advertising, marketing, and other representations.” In this situation, at what point does “coming soon” fail to present a true picture? Depending on other factors, a hearing panel may determine that this listing agent failed to present a true picture by advertising the property as “coming soon” for an extended period of time in excess of the MLS rules.