ALL employees of (insert
name of firm) will adhere to the Advertising Regulations as set out in the
Virginia Real Estate Board Licensee Regulations.
***Please note the
changes to 18 VAC 135-20-190, as they relate to advertising. The new
regulations now clearly define Internet advertising and electronic
communication, as well as any of communications that need disclosures. The VREB
felt that with the emergence of Internet-based, as well as all other electronic,
communication mediums licensees needed some guidance on how to treat
them.***
These regulations are as
follows:
“18 VAC 135-20-190. Advertising
by licensees.
A. Definitions. The following definitions apply unless a
different meaning is plainly required by the context:
"Advertising" means all forms of
representation, promotion and solicitation disseminated in any manner and by any
means of communication to consumers for any purpose related to licensed real
estate activity.
“Disclosure” in the context of on-line advertising means (i)
advertising that contains the firm's licensed name, the city and state in which
the firm's main office is located and the jurisdiction in which the firm holds a
license or (ii) advertising that contains the licensee name, the name of the
firm with which the licensee is active, the city and state in which the
licensee's office is located and the jurisdiction in which the licensee holds a
license. “Disclosure” in the context of other advertising means (i) advertising
by the firm that contains the firm's licensed name and the firm's address or
(ii) advertising by an affiliated licensee that contains the licensee's name,
the name of the firm with which the licensee is active and the firm's
address.
"Institutional advertising"
means advertising in which no real property is identified.
“Viewable
page” means a page that may or may not scroll beyond the borders of the screen
and includes the use of framed pages.
B. All advertising must be under the direct supervision
of the principal broker or supervising broker and in the name of
the firm. The firm's licensed name must be clearly and legibly
displayed on all advertising.
C. Online
advertising.
1. Any online
advertising undertaken for the purpose of any licensed activity is subject to
the provisions of this chapter.
2. All online advertising that can be viewed or experienced
as a separate unit (i.e., e-mail messages and web pages) must contain disclosure
as follows:
a. The
web. If a firm or licensee owns a webpage or controls its content, the viewable
page must include disclosure or a link to disclosure.
b.
E-mail, newsgroups, discussion lists, bulletin boards. All
such formats shall include disclosure at the beginning or end of each message.
The provisions of this subsection do not apply to correspondence in the ordinary
course of business.
c.
Instant messages. Disclosure is not necessary in this
format if the firm or licensee provided the disclosures via another format prior
to providing, or offering to provide, licensed services.
d.
Chat. Disclosure is required prior to providing, or
offering to provide, licensable services during the chat session, or in text
visible on the same webpage that contains the chat session if the licensee
controls the website hosting the chat session.
e.
Voice Over Net (VON). Disclosure is required prior to
advertising or the disclosure text must be visible on the same webpage that
contains the VON session.
f.
Banner ads. A link to disclosure is required unless the
banner ad contains the disclosure.
D. The following activities shall be
prohibited:
1. Implying that property listed by a licensee's firm and
advertised by the firm or licensee is for sale, exchange, rent or lease by the
owner or by an unlicensed person;
2. Failing to include a notice in all advertising that the
owner is a real estate licensee if the licensee owns or has any ownership
interest in the property advertised and is not using the services of a licensed
real estate entity;
3. Failing to include the firm's licensed name on any sign
displayed outside each place of business;
4. Failing to obtain the written consent of the seller,
landlord, optionor or licensor prior to advertising a specific identifiable
property; and
5. Failing to identify the type of services offered when
advertising by general description a property not listed by the party making the
advertisement.”
In
addition to the above-referenced Virginia Real Estate Board Regulations, ALL
employees of (insert name of firm) will adhere to the following REALTOR® Code of
Ethics, as they pertain to advertising.
They are as
follows:
“· Article
12
REALTORS® shall be careful at all times to present a true picture in their
advertising and representations to the public. REALTORS® shall also ensure that
their professional status (e.g., broker, appraiser, property manager, etc.) or
status as REALTORS® is clearly identifiable in any such advertising. (Amended
1/93)
· Standard of Practice
12-1
REALTORS® may use the term "free" and similar terms in
their advertising and in other representations provided that all terms governing
availability of the offered product or service are clearly disclosed at the same
time. (Amended 1/97)
· Standard of Practice
12-2
REALTORS® may represent their services as "free" or
without cost even if they expect to receive compensation from a source other
than their client provided that the potential for the REALTOR® to obtain a
benefit from a third party is clearly disclosed at the same time. (Amended
1/97)
· Standard of Practice
12-3
The offering of premiums, prizes, merchandise discounts
or other inducements to list, sell, purchase, or lease is not, in itself,
unethical even if receipt of the benefit is contingent on listing, selling,
purchasing, or leasing through the REALTOR® making the offer. However, REALTORS®
must exercise care and candor in any such advertising or other public or private
representations so that any party interested in receiving or otherwise
benefiting from the REALTOR®'s offer will have clear, thorough, advance
understanding of all the terms and conditions of the offer. The offering of any
inducements to do business is subject to the limitations and restrictions of
state law and the ethical obligations established by any applicable Standard of
Practice. (Amended 1/95)
· Standard of Practice
12-4
REALTORS® shall not offer for sale/lease or advertise
property without authority. When acting as listing brokers or as subagents,
REALTORS® shall not quote a price different from that agreed upon with the
seller/landlord. (Amended 1/93)
· Standard of Practice
12-5
REALTORS® shall not advertise nor permit any person
employed by or affiliated with them to advertise listed property without
disclosing the name of the firm. (Adopted 11/86)
· Standard of Practice
12-6
REALTORS®, when advertising unlisted real property for
sale/lease in which they have an ownership interest, shall disclose their status
as both owners/landlords and as REALTORS® or real estate licensees. (Amended
1/93)
· Standard of Practice
12-7
Only REALTORS® who participated in the transaction as
the listing broker or cooperating broker (selling broker) may claim to have
"sold" the property. Prior to closing, a cooperating broker may post a "sold"
sign only with the consent of the listing broker. (Amended 1/96)”
AND
“· Article 16
REALTORS® shall not engage in any practice
or take any action inconsistent with the agency or other exclusive relationship
recognized by law that other REALTORS® have with clients. (Amended
1/98)
· Standard of Practice
16-1
Article 16 is not intended to prohibit aggressive or
innovative business practices which are otherwise ethical and does not prohibit
disagreements with other REALTORS® involving commission, fees, compensation or
other forms of payment or expenses.
(Adopted 1/93, Amended
1/95)
· Standard of Practice
16-2
Article 16 does not preclude REALTORS® from making
general announcements to prospective clients describing their services and the
terms of their availability even though some recipients may have entered into
agency agreements or other exclusive relationships with another REALTOR®. A
general telephone canvass, general mailing or distribution addressed to all
prospective clients in a given geographical area or in a given profession,
business, club, or organization, or other classification or group is deemed
"general" for purposes of this standard. (Amended 1/98)
Article 16 is
intended to recognize as unethical two basic types of
solicitations:
First, telephone or personal solicitations of property
owners who have been identified by a real estate sign, multiple listing
compilation, or other information service as having exclusively listed their
property with another REALTOR®; and
Second, mail or other forms of
written solicitations of prospective clients whose properties are exclusively
listed with another REALTOR® when such solicitations are not part of a general
mailing but are directed specifically to property owners identified through
compilations of current listings, "for sale" or "for rent" signs, or other
sources of information required by Article 3 and Multiple Listing Service rules
to be made available to other REALTORS® under offers of subagency or
cooperation. (Amended 1/93)
· Standard of Practice
16-3
Article 16 does not preclude REALTORS® from contacting
the client of another broker for the purpose of offering to provide, or entering
into a contract to provide, a different type of real estate service unrelated to
the type of service currently being provided (e.g., property management as
opposed to brokerage). However, information received through a Multiple Listing
Service or any other offer of cooperation may not be used to target clients of
other REALTORS® to whom such offers to provide services may be made. (Amended
1/93)”
Furthermore and in
addition to the above-referenced policies, ALL employees of (insert name of
firm) will adhere to the following policies, as they pertain to
advertising.
They are as
follows:
(Insert
policies that will pertain to your firm and its employees)