What changes would you make to the text for an advertisement, shown below, so it complies with the REBBA 2002 Code of Ethics?
222 Terrace View Lane, Stoneyville
Take a look at the view!
Asking $600,000
Contact John at XYZ Real Estate Ltd.
Tel.: 905-555-1234 / Email: john@genericemail.ca
First, the name of the registrant must be the same name as used when registered with the Real Estate Council of Ontario (RECO). Second, the registrant must include his/her registration status. Namely, if he/she is a salesperson, broker, or broker of record. Third, the name of the real estate company appearing in an advertisement must be accompanied by the word “brokerage.”
The revised text should read as follows:
222 Terrace View Lane, Stoneyville
Take a look at the view!
Asking $600,000
Contact John Q. Smith, Salesperson, at XYZ Real Estate Ltd., Brokerage
Tel.: 905-555-1234 / Email: john@genericemail.ca
What if the advertisement were not as simple as the one shown above?
Advertising that complies with the REBBA 2002 Code of Ethics and the RECO Advertising Guidelines continues to be a top complaint area for the regulatory body. For example, according to the 2015 RECO annual report, 14 per cent of complaints related to advertising.
RECO has launched a new initiative intended to reduce the number of advertising complaints and increase advertising compliance. Registrants are encouraged to submit their proposed advertisements to their brokers of record for review. Brokers of record who are uncertain if the advertisements comply can then submit them to RECO. RECO will review the advertisements and issue a report to the brokers of record that identifies issues, if any, that need to be addressed. However, registrants cannot state, suggest, or imply that their advertisements have been authorized or approved by RECO.
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Reference:
Real Estate Council of Ontario (2015). RECO 2015 annual report and 2016-2018 business plan. Toronto, Ontario: Real Estate Council of Ontario.
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