Forming a real estate “team” has RULES!

 This is a good step towards identifying who is real estate group…check this out!

Wenston DeSue

Fla. RE teams must follow FREC’s team-ad rule

Some Fla. real estate team names go against FREC rules – words that became banned on July 1, 2019. According to Florida Realtors Hotline calls, FREC has stepped up enforcement, and some teams have already been contacted.

ORLANDO, Fla. – The Florida Real Estate Commission (FREC) created a team-advertising rule that became effective on July 1, 2019, after giving agents working in teams time to prepare for the changes.

However, a year-and-a-half later, FREC has initiated some enforcement actions against teams that include the banned words, either because it was never changed or because newer teams may have decided to use the words without realizing they weren’t allowed.

The team ad rule, 61J2-10.026 Team or Group Advertising, impacts office procedures and team advertising. Words no longer allowed in team names found within the rule include:

(4) 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:

1. Agency
2. Associates
3. Brokerage
4. Brokers
5. Company
6. Corporation
7. Corp.
8. Inc.
9. LLC
10. LP, LLP or Partnership
11. Properties
12. Property
13. Real Estate
14. Realty
15. Or similar words suggesting the team or group is a separate real estate brokerage or company

Other details of the rule

• “Team or group advertising” means 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.
• Advertisements containing the team or group name shouldn’t be in larger print than the name of the registered brokerage. All advertising must be in a manner in which reasonable persons would know they’re dealing with a team or group.
• Nothing in this rule shall relieve the broker of his or her legal obligations under chapter 475, Florida Statutes, and division 61J2, Florida Administrative Code.