Friends and Family? The Rules Still Apply. Be Careful. A license holder may sometimes take a “short cut” when working with a family member or friend. This is risky. The license holder should not assume that the friend or relative understands real estate brokerage. An Information About Brokerage Services form should still be provided at the time of the first substantive communication, all paperwork should still be prepared carefully, no “under the table” rebates should be given or promised, and the importance of a professional property inspection, other property issues, and possible amendments during the option period should still be discussed and acted upon.
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Recently a few agents in our company have had questions regarding what is legal when it comes to advertising rules. Here is some helpful information to clear up any issues regarding advertising and font size. On March 9, 2012 some new rules passed by TREC explain how agent advertising must be clear and conspicuous to the public. The advertising must include the either the individual name of the sponsoring broker, the corporate entity name of sponsoring broker or DBA of sponsoring broker on file with TREC. No size requirement was mentioned, however TREC did add a policy which states a safe harbor which states that if the font size of the brokers name is at least half the size of the largest font this would be sufficient in size for TREC enforcement. Agents should get approval from the sponsoring broker on all advertising if the agent is unsure about advertising rules. Listen to the latest Texas REALTOR® Update podcast for more information about these rule changes. Click here to listen. |
Who:Located in San Antonio, Texas we provide Texas Real Estate Professionals the Best Broker Sponsorship solution. Keep more of what you earn. Archives
December 2022
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