The FREC approved Rule 61J2-10.026 regulating team advertising. The rule will become effective July 1, 2019. This will give licensees time to prepare their advertising, business cards, and signs for compliance. The text of the rule is shown below:
(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 division 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:
(j) LP, LLP or Partnership
(m) Real Estate
(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 division 61J2, Florida Administrative Code.