| (a) For the purposes of this section, an "advertisement"
is a written or oral statement or communication by or on behalf of
a license holder which induces or attempts to induce a member of the
public to use the services of the license holder or service provider.
The term "advertisement" includes, but is not limited to, all publications,
radio or television broadcasts, all electronic media including email,
text messages, social networking websites, and the Internet, business
stationery, business cards, signs and billboards. The provisions of
this section apply to all advertisements by or on behalf of a license
holder unless the context of a particular provision indicates that
it is intended to apply to a specific form of advertisement.
(b) The following information is not considered an
advertisement or advertising:
(1) a communication from a license holder to a member
of the public after the member of the public agreed for the license
holder to provide services, provided the first communication from
the license holder contains the information required by this section;
or
(2) real estate information, including listings, available
to the public on a license holder's website, extranet or similar site
that is behind a firewall or similar filtering software which requires
a password or registration to access that information.
(c) An advertisement must clearly and conspicuously
contain the name of the broker, either a business entity or an individual.
For purposes of this section, the broker, or a salesperson sponsored
by the broker, may use the broker's assumed name instead of the name
in which the broker is licensed, if the assumed name is registered
with the Commission under subsection (e) of this section. An advertisement
may not contain an assumed name unless the broker has registered that
assumed name with the Commission. If the broker's name or its assumed
name includes a salesperson's name, the advertisement must include
another assumed name of the broker that does not include a salesperson's
name, or the designated broker's name.
(d) For purposes of this section and §1101.652(b)(23)
of the Act, deceptive or misleading advertising includes, but is not
limited to, the following:
(1) advertising that is inaccurate in any material
fact or in any way misrepresents any property, terms, values, services,
or policies;
(2) advertising a property that is subject to an exclusive
listing agreement without the permission of the listing broker and
without disclosing the name of the listing broker unless the listing
broker has expressly agreed to waive disclosure;
(3) failing to remove an advertisement about a listed
property within 10 days after closing or termination of a listing
agreement, unless the status is included in the advertisement;
(4) an advertisement by a salesperson which identifies
the salesperson as a broker; or
(5) advertising a property in a manner that creates
a reasonable likelihood of confusion regarding the permitted use of
the property.
(e) A broker, individually or as the designated broker,
of a business entity licensed as a broker, shall notify the Commission
in writing not later than the 30th day after the date the broker,
or a salesperson sponsored by the broker, starts or stops using an
assumed name in business other than the name in which the person is
licensed.
(f) An advertisement placed by a license holder must
include a designation such as "agent," "broker" or a trade association
name that serves clearly to identify the advertiser as a real estate
agent.
(g) A broker or salesperson may not place an advertisement
that in any way:
(1) implies that a salesperson is the person responsible
for the operation of a real estate brokerage business; or
(2) causes a member of the public to believe that a
person not authorized to conduct real estate brokerage is personally
engaged in real estate brokerage.
(h) Except as provided by subsections (c) and (g) of
this section, a business entity licensed as a real estate broker may
do business in the name in which it was chartered or registered by
the Office of the Secretary of State.
(i) A license holder may not use a copyrighted trade
name unless the license holder has legal authority to use the name.
(j) A real estate license holder placing an advertisement
on the Internet, electronic bulletin board, or the like must include
on each page on which the license holder's advertisement appears any
information required by this section and §1101.652(b)(23) of
the Act. For purposes of this subsection, "page" means each html document
of a website, which may include several screens of information that
are viewed by scrolling down to the end of the document.
(k) A real estate license holder placing an advertisement
by using an electronic communication, including but not limited to
email and email discussion groups, text messages, and social networking
websites must include in the communication and in any attachment which
is an advertisement, the information required by this section and
§1101.652(b)(23) of the Act. For purposes of advertising on social
networking websites that limit the number of characters in a communication
and the required information would consume more than 10% of the available
character limit, a license holder may include a direct hyperlink containing
the words "TREC DISCLOSURE" which links to the information required
by this section and §1101.652(b)(23) of the Act. If the site
does not allow a hyperlink, the link may be spelled out with the words
"TREC DISCLOSURE" stated before the link.
(l) An advertisement placed where it is likely to attract
the attention of passing motorists or pedestrians must contain language
that clearly and conspicuously identifies the person publishing the
advertisement as a real estate broker or agent. This subsection does
not apply to signs placed on or providing directions to real property
listed for sale, rental or lease with the broker who has placed the
sign, provided the signs otherwise comply with this section and the
Act.
(m) An advertisement containing an offer to rebate
a portion of a license holder's commission must disclose that payment
of the rebate is subject to the consent of the party the license holder
represents in the transaction. If payment of the rebate is contingent
upon a party's use of a selected service provider, the advertisement
also must contain a disclosure that payment of the rebate is subject
to restrictions.
(n) If an advertisement offers, recommends or promotes
the use of services of a real estate service provider other than the
license holder and the license holder expects to receive compensation
if a party uses those services, the advertisement must contain a disclosure
that the license holder may receive compensation from the service
provider.
(o) A license holder may not advertise information
regarding service providers that ranks the providers unless the ranking
is based on disclosed objective criteria.
(p) A license holder may not advertise that the license
holder offers, sponsors, or conducts Commission approved courses in
conjunction with an approved school or other approved organization
unless the license holder is approved by the Commission to offer the
courses.
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