The Commission proposes the development of a new rule to establish the definition and criteria for team or group advertising.

 

DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION

Florida Real Estate Commission

RULE NO.:RULE TITLE:

61J2-10.026Team or Group Advertising

PURPOSE AND EFFECT: The Commission proposes the development of a new rule to establish the definition and criteria for team or group advertising.

SUMMARY: This is a new rule setting forth the definition and criteria for team or group advertising.

SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS AND LEGISLATIVE RATIFICATION:

The Agency has determined that this will not have an adverse impact on small business or likely increase directly or indirectly regulatory costs in excess of $200,000 in the aggregate within one year after the implementation of the rule. A SERC has not been prepared by the Agency.

Any person who wishes to provide information regarding a statement of estimated regulatory costs, or provide a proposal for a lower cost regulatory alternative must do so in writing within 21 days of this notice.

RULEMAKING AUTHORITY: 120.53, 475.05, 475.25(1)(c) FS.

LAW IMPLEMENTED: 475.25, 475.42 FS.

IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE SCHEDULED AND ANNOUNCED IN THE FAR.

THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Lori Crawford, Executive Director, Florida Real Estate Commission, 400 W. Robinson Street, #N801, Orlando, Florida 32801, [e-mail].

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

61J2-10.026 Team or Group Advertising

(1) “Team or group advertising” shall mean 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.

(2) 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 61J2 Florida Administrative Code.

(3) At least once monthly, the registered broker must maintain a current written record of each team’s or group’s members.

(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:

(a) Agency

(b) Associates

(c) Brokerage

(d) Brokers

(e) Company

(f) Corporation

(g) Corp.

(h) Inc.

(i) LLC

(j) LP, LLP or Partnership

(k) Properties

(l) Property

(m) Real Estate

(n) Realty

(o) or similar words suggesting the team or group is a separate real estate brokerage or company

(5) This rule applies to all advertising.

(6) Advertisements containing the team or group name shall not appear in larger print than the name or logo of the registered brokerage. All advertising must be in a manner in which reasonable persons would know they are dealing with a team or group. 

(7) All advertisements must comply with these requirements no later than 12 months following the effective date of this rule.

Nothing in this rule shall relieve the broker of their legal obligations under Chapter 475, Florida Statutes and 61J2 Florida Administrative Code.

Rulemaking Authority 120.53, 475.05, 475.25(1)(c) FS. Law Implemented 475.25, 475.42 FS FS. History–New __________.

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Florida Real Estate Commission

NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Florida Real Estate Commission

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: February 21, 2018

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: November 17, 2017