Florida Real Estate Commission (FREC) has approved a New Team Advertising Rule that will impact brokerage office procedures and team advertising.
Brokers and teams have until July 1, 2019 to comply, but it's not too early to prepare.
“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.
Team marketing may include the words team or group as part of the name, however the following names will no longer be permitted:
LLC, LP, LLP
Additionally, any similar words suggesting the team or group is a separate real estate brokerage or company can’t be included.
In advertisements containing the team or group name, the team or group name shall not be in larger print than the name of the registered brokerage.
All advertising must be in a manner in which consumers would know they are dealing with a team or group.
These requirements apply to all forms of advertising.
All advertisements must comply by July 1, 2019
The Broker is required to designate a team member per team that is responsible for insuring that the advertising is in compliance with the above requirements.
The broker must maintain a current list of each team member updated monthly.
These requirements must be implemented by July 1, 2019