fbpx

FREC issues new team advertising rules

FREC issues new team advertising rules
By Meredith Caruso

ORLANDO, Fla. – Aug. 31, 2018 – New team rules require changes be made to some team names.

If you use the word “realty” in your team name, you have until next year to change your name and branding, according to the Florida Real Estate Commission’s team ad regulation called 61J2-10.026 Team or Group Advertising.

The rule impacts office procedures and team advertising. In some cases, changes could take time to complete; however, brokers and their teams have until July 1, 2019, to comply.

Here are details about the new regulations, which apply to all advertising:

• “Team or group advertising” shall mean a name or logo used by one or more real estate licensees who represent themselves to the public as a team or group. The team or group must perform licensed activities under the supervision of the same broker or brokerage.

• Each team or group shall file with the broker a designated licensee to be responsible for ensuring that the advertising is in compliance with chapter 475, Florida Statutes, and division 61J2, Florida Administrative Code.

• At least once monthly, the registered broker must maintain a current written record of each team’s or group’s members.

• Team or group names. Real estate team or group names may include the word team or group as part of the name. Real estate team or group names shall not include the following words:
Agency
Associates
Brokerage
Brokers
Company
Corporation
Corp.
Inc.
LLC
LP, LLP or Partnership
Properties
Property
Real Estate
Realty
Additionally, any similar words suggesting the team or group is a separate real estate brokerage or company can’t be included.
• Advertisements containing the team or group name shall not appear in larger print than the name or logo of the registered brokerage. All advertising must be in a manner in which reasonable persons would know they are dealing with a team or group.

All advertisements must comply with these requirements no later than July 1, 2019. Nothing in this rule shall relieve the broker of their legal obligations under chapter 475, Florida Statutes, and division 61J2, Florida Administrative Code. Rulemaking Authority 475.05, 475.25(1)(c) FS. Law Implemented 475.25 FS. History–New 6-18-18.

Florida Realtors Law & Policy department suggests that impacted members begin reviewing the regulation. Questions? Email LegalNews@floridarealtors.org. Attorneys will review your questions, discuss issues with FREC if appropriate and provide member updates shortly.

© 2018 Florida Realtors