The Code of Ethics provides that only the listing broker or cooperating broker in a transaction may claim to have sold the property. This restriction is relevant if you want to provide information in marketing materials, newsletters, or other communications about recently sold properties for which you were not the listing or cooperating broker.
NAR’s Code of Ethics and Arbitration Manual contains two case studies that relate to this issue. In one case study, the hearing panel found the REALTOR® to have violated Standard of Practice 12-7; in the other, the hearing panel found no violation.
The biggest difference in the two case studies? The REALTOR® found in violation of the Code had simply labeled the properties as recently sold, which the hearing panel concluded had the effect of conveying the impression that the REALTOR® had listed and/or sold the properties when he had not. In contrast, the REALTOR® found to not be in violation included a footnote that the recently sold properties had been listed by various participants in the MLS.
Keep in mind that in any ethics hearing, the hearing panel reviews all the facts to determine whether there is a violation. Also note that your MLS may have rules that affect what participants can and can’t say about sold properties.
Realtors are always sending out farming postcards with “recently sold” listings. If I interpret this correctly, those postcards are in violation of the Code of Ethics on two grounds. First, the Realtor probably did not sell all of the listings in a neighborhood, so some or all of those “recently solds” are not his. Second, if the Realtor is not also the responsible broker, then even if he DID sell those listings he is still in violation. Basically, this says that almost every farming postcard that is mailed these days violates the code of ethics. What about team names? Can… Read more »
If the Realtor was the buying agent, then yes, he/she can advertise they sold the property. The article states either the listing or cooperating agent can claim the sale.
No, it says broker not agent…that means your broker must have a policy in place saying you as a sponsored agent by that broker can advertise that brokers sold listings.
No. Re-read the article. If you are the listing agent OR the selling agent of a property that sold, you can advertise it as a property you “sold”. This has been the case for years.
The articles states: “only the listing broker or cooperating broker in a transaction may claim to have sold the property.” The term used is broker, not agent or Realtor. My comment was based on the exact wording of the article, not our common interpretation of it.
The Agent is authorised to do/does things on behalf of the broker. And, It is the agent who has sold the listing. So, what is the problem?
http://www.facebook.com/RealtorAshokPruthi/
No, your broker has to have policy in place…without that you cannot act on behalf of the broker…that is exactly what the violation is about.
I am sorry to say that my wording has been mis-interpreted and misunderstood. It doesn’t say anywhere that we indulge in this practice. We have a policy and procedure manual that we follow and adhere to. It is rather posed as a question. I hope that clears any confusion.
Amen. Seems that we are the only ones required to play fair.
I don’t think that Zillow, Redfin or Open Door are going to take over. These new business models don’t do the consumer any favors and the public is smart enough to figure that out. As for farming postcards, I never send any out unless they are my listings. On your website you can use anything in MLS with permission and with acknowledgement that it is courtesy of XYZ Brokereage or whoever under each listing. I think the whole point is whether it is postcards, real estate signs or web-sites, don’t leave the impression you are the selling agent, broker or… Read more »
We bought a house and had a horrible sellers agent abs title company
Now the realtor is using my address as a just sold
I do not want her using our address
Is this okay ?
As a Realtor I wouldn’t use the address nor the name of the buyer. I would just use the photo and city name, not address of a recently sold property.