The Missouri Real Estate Commission (MREC) has recently issued notice of its opinion that the practice of placing a “Sold” sign on a property prior to closing is NOT permitted by the statutes and regulations that govern real estate in Missouri. Missouri REALTORS® are working with the MREC to request it reconsider (or at least further clarify) its apparent interpretation in this regard.
In any event, unless and until the MREC makes clear the circumstances under which posting a “Sold” sign prior to closing might be acceptable, as a matter of conservative and “best practice”, you should avoid doing so. Posting (prior to closing) a yard sign rider for a listed property which is the subject of an accepted contract, and which simply reads “under contract” or “sale pending”, should continue to be acceptable. We will keep you apprised with any further developments in this regard.