Mo. Code Regs. tit. 20 § 2250-8.070

Current through Register Vol. 49, No. 24, December 16, 2024

Section 20 CSR 2250-8.070 - Advertising

PURPOSE: This amendment enacts legislative changes effective August 28, 2021 that restricts real estate advertisement by unlicensed entities and use of certain terms that leads the general public to believe the unlicensed entity is a licensed real estate firm.

(1) Disclosure.

(A) A licensee shall not advertise to sell, buy, exchange, rent, lease or manage property in any manner indicating that the offer to sell, buy, exchange, rent, lease or manage the property is being made by a private party not engaged in the real estate business. If any part of the offering, negotiation or completion of a real estate transaction is to be handled by, through or under the direction or supervision of a licensee, directly or indirectly, the licensee shall not advertise or represent to the public in any manner that the property is for sale or lease by the owner.

(B) If a licensee advertises to sell, buy, exchange, rent, lease or manage property in which the licensee has an interest, and if the property is not listed by a brokerage entity, the advertisement shall contain, in a prominent fashion, one (1) of the following:

1. By owner-broker;

2. By owner-salesperson; or

3. By owner-agent.

(C) Nothing in this section shall be construed to eliminate the disclosure requirements found elsewhere in these rules, including those contained in 20 CSR 2250-8.110.

(2) No real estate advertisement by a licensee shall show only a post office box number, telephone number or street address. Every advertisement of real estate by a licensee shall contain the broker's regular business name or the name under which the broker or the broker's firm is licensed and shall indicate that the party advertising is a real estate broker and not a private party.

(3) Every advertisement of real estate by a licensee where the licensee has no interest in the real estate shall be made under the direct supervision and in the name of the broker or firm who holds the licensee's license. If the licensee's name or telephone number, or both, is used in any advertisement, the advertisement also shall include the name and telephone number of the broker or firm who holds the licensee's license.

(4) No licensee shall advertise to buy, sell, rent, lease, manage or exchange property in any manner that indicates, directly or indirectly, any unlawful discrimination against any individual or group because of race, color, religion, national origin, ancestry, sex, handicap or familial status.

(5) No licensee or group of licensees shall advertise as a real estate company in any manner, or use any name, team name, or other term that could be construed by members of the public as the advertiser being a real estate partnership, company, brokerage, or business entity, unless the advertiser holds a valid appropriate entity license.

(A) Such terms include use of the words realty, brokerage, company, or other terms that may be construed as a real estate entity.

(B) The context of the advertisement or solicitation may be considered by the commission when determining whether a licensee has committed a violation. When the licensee's or group of licensee's name includes or incorporates the name of the broker/brokerage with whom the licensee or group of licensee's is currently affiliated, the use of the words realty, brokerage, or company in the licensee's fictitious name shall not constitute a violation of subsection (5)(A) above when these words are used to refer to or identify the licensee's affiliation with the broker/brokerage.

(C) A licensee or group of licensees that are not entities under Chapter 339, RSMo, who want to advertise with the licensee's or group's fictitious name, should file with the secretary of state a registered fictitious name that is owned by the broker/brokerage in which the licensee or group of licensees are affiliated. The registration of a fictitious name with the Missouri Secretary of State's Office does not exempt a licensee or group of licensees from the requirements of 20 CSR 2250-8.070(3) or subsection (5)(A) above.

(6) Guaranteed Sales.

(A) As used in this rule, the term guaranteed sales plan includes, but is not limited to:

1. Any plan in which a seller's real estate is guaranteed to be sold; or

2. Any plan where a licensee or anyone affiliated with a licensee will purchase a seller's real estate if it is not purchased by a third party in the specified period of a listing or within some other specified period of time.

(B) Any written advertisement by a licensee of a guaranteed sales plan shall include a statement advising the seller that if the seller is eligible, costs and conditions may apply and advising the seller to inquire of the licensee as to the terms of the guaranteed sales agreement. This information shall be set forth in print at least one-fourth (1/4) as large as the largest print in the advertisement.

(C) Any radio or television advertisement by a licensee of a guaranteed sales plan shall include a conspicuous statement advising if any conditions and limitations apply.

(D) Every guaranteed sales agreement must be in writing and contain all of the conditions and other terms under which the property is guaranteed to be sold or purchased including the charges or other costs for the service or plan, the price for which the property will be sold or purchased, and the approximate net proceeds the seller may reasonably expect to receive.

20 CSR 2250-8.070

AUTHORITY: sections 339.100 and 339.120, RSMo Supp. 2007.* This rule originally filed as 4 CSR 250-8.070. Original rule filed Nov. 14, 1978, effective Feb. 11, 1979. Amended: Filed May 11, 1983, effective Aug. 11, 1983. Amended: Filed Sept. 7, 1984, effective Dec. 13, 1984. Amended: Filed Oct. 29, 1985, effective Dec. 26, 1985. Amended: Filed Dec. 15, 1986, effective March 26, 1987. Amended: Filed March 16, 1988, effective July 1, 1988. Amended: Filed June 16, 1989, effective Sept. 28, 1989. Amended: Filed June 15, 1990, effective Dec. 31, 1990. Amended: Filed Nov. 15, 1991, effective June 25, 1992. Amended: Filed Feb. 2, 1994, effective Aug. 28, 1994. Amended: Filed Jan. 14, 2000, effective July 30, 2000. Moved to 20 CSR 2250-8.070, effective Aug. 28, 2006. Amended: Filed Oct. 12, 2007, effective April 30, 2008.

Repealed by Missouri Register March 1, 2022/Volume 47, Number 5, effective 4/30/2022

Adopted by Missouri Register September 1, 2022/Volume 47, Number 17, effective 10/31/2022

*Original authority: 339.100, RSMo 1941, amended 1978, 1993, 2004, 2005, 2006, 2007 and 339.120, RSMo 1941, amended 1963, 1967, 1981, 1988, 1993, 1995, 1999, 2004.