58-3086. Advertising; prohibitions; requirements of; information disclosed; filing of agreements.
58-3086
58-3086. Advertising; prohibitions; requirements of;information disclosed; filing of agreements.(a) No licenseeshall use any promotion or advertisement in any type of media that:
(1) Is misleading or inaccurate as to any material fact or that in any waymisrepresents any property, terms, values, policies or services of the businessconducted;
(2) includes the trade name, trademark, collective membership mark, servicemark or logo of any organization owning such name, mark or logo without beingauthorized to do so;
(3) includes an office where real estateactivity is conducted that is notdesignated as a primary office or branch office withthe commission; or
(4) promotes the licensee's business in a manner that could confuse ormislead the public by using terms or a trade name or a business name that couldbe construed as the trade name or business name of a supervising broker.
(b) Except as specified by subsection (c), all advertising conductedby a licensee shall:
(A) Be conducted under the direct supervision of the supervising broker orbranch broker;
(B) include the name of the supervising broker's trade name or business nameby prominently and conspicuously displaying or announcing the supervisingbroker's trade name or business name in a readable and identifiable manner; and
(C) include any other information that the supervising broker or branchbroker considers necessary.
(c) The advertising of property for sale, lease or exchange shall not berequired to include the supervising broker's trade name or business name if theproperty is not listed with a broker and if either of the following conditionsis met:
(1) The property is personally owned by a licensee; or
(2) a licensee has an interest in the property.
(d) If authorized by the supervising broker or the branch broker, anemployed or associated salesperson or associate broker may include in theadvertisement:
(1) The contact information for the employed or associated salesperson orassociate broker;
(2) a name or team name which cannot be construed as a supervising broker'strade name or business name;
(3) a slogan which does not include terms that are confusing to the public orwhich cannot be construed as a supervising broker's trade name or businessname; and
(4) a domain name or website which does not include terms that are confusingto the public or which cannot be construed as a supervising broker's trade nameor business name.
(e) Unless property personally owned by a licensee or in which a licensee hasan interest is listed with a supervising broker or branch broker, alladvertising caused by the licensee regarding the property shall be done in amanner that clearly informs the public that a real estate licenseeis the owner of or has an interest in the property advertised.
(f) If a licensee does not have a buyer's agency agreement and is solicitingproperty for purchase for the benefit of the licensee or an entity in whichthe licensee has an interest, all advertising by the licensee that contains asolicitation to purchase property from potential sellers shall clearly informthe public that a real estate licensee isinvolved in the solicitation of potential sellers of property.
(g) Each supervising broker who enters into an agreement that authorizes thesupervising broker to utilize the name or trade name of any person or entity inthe conduct of the supervising broker's real estate business shall file a copyof the agreement with the commission.
(h) This section shall be part of and supplemental to the real estatebrokers' and salespersons' license act.
History: L. 2008, ch. 155, § 6;L. 2009, ch. 7, § 10; July 1.