CEU-Real Estate Advertising Compliance and the Law - MA_6-17-15
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CEU Course for Massachusetts Real Estate Agents. With many agents advertising on social media it is important that they comply with the various federal and state regulations and the NAR Code of Ethics.
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CEU-Real Estate Advertising Compliance and the Law - MA_6-17-15
- 1. Real Estate Advertising Compliance and the Law MA RE41R05 Bob Falter, PhD, GRI Broker Associate REALTOR速
- 3. CEU Outline
- 5. Sources of Guidance REALTOR速 Code of Ethics License Law Regulations Federal Laws and Agency Guidance (i.e., HUD) MLSPIN Rules
- 6. Code of Ethics Article 12 REALTORS shall be honest and truthful in their real estate communications and shall present a true picture in their advertising, marketing, and other representations. REALTORS shall ensure that their status as real estate professionals is readily apparent in their advertising, marketing, and other representations.(Amended 1/08)
- 8. Article 12 Materials Page # 8 SOP 12-5 Electronic identification including tweets SOP 12-8 Accurate websites SOP 12-9 State licensing SOP 12-10 Accurate URLs SOP 12-11 Privacy Policy
- 9. Real Estate Advertising Compliance and the Law Code of Ethics- Common issues: (See Article 12) Offering of inducements to list, sell, purchase Advertising other company listings Sold signs Keep your website current Canvassing/General mailings (Disclaimer) 2011 息 Massachusetts Association of REALTORS速
- 17. Writing Group Exercise #1 Write an ad that you write for a Facebook post.
- 20. Protected Classes Federal Protected Classes Race Color Religion Sex or gender Disability or handicap Familial status National origin MA Added Classes Sexual orientation Age Children Ancestry Marital status Veteran history Public Assistance
- 21. Discriminatory Advertising No one can make, print or publish discriminatory ads including those who are exempt Ads that contain words, phrases, symbols or visuals that indicate a discriminatory preference or limitation. Ads that selectively use media, human models, logos and locations to indicate an illegal preference or limitation Refusal to publish ads because of protected class.
- 22. Fair Housing and Advertising Steering Blockbusting Preference Implicit or Implied False Denial of Availability Representing or Enforcing Restrictive Covenants Redlining
- 23. Methods of Advertising Buyers Sellers Agents
- 26. Characteristics of Home Buyers - MA - First Time Buyers 39% - Purchased multigenerational home 11% - 1st time buyer 31 years old - Repeat buyer 49 years old - Median household income (2013) - $107,400 - Married 63% - Recent home buyers 21% 2014 Profile of Home Buyers and Sellers
- 28. Characteristics of Home Purchased - MA - New Homes - 8% - Typical Purchase: Three bedrooms, two baths, 1,700 sq., built in 1973 - Detached single family 72% - Senior related housing 14% - Heating & Cooling costs 93% - Commuting costs 73% 2014 Profile of Home Buyers and Sellers
- 30. Home Search Process - MA - Properties 49% - Information 14% - Internet 94%; Mobile Device 53% - Real Estate agent good information source 97% - Searched 16 weeks - Viewed 10 homes 2014 Profile of Home Buyers and Sellers
- 32. Home Buying & Real Estate Professional - MA - Bought through RE agent 91% - Found agent through referral 44% - Used same agent used before 12% - Interviewed only one agent 66% - Would use agent again and refer- 88% 2014 Profile of Home Buyers and Sellers
- 34. Financing the Home Purchase - MA - Financed home purchase 91% - First time buyers 97%; Repeat buyers 87% - Made sacrifices 51% - Mortgage process difficult 30% - Home good financial investment 84% - Down payment saving difficult 19% - Student loans 58% - Credit card debt 37% - Car loans 56% 2014 Profile of Home Buyers and Sellers
- 36. Home Sellers and Their Selling Experience - MA - Lived in home for 10 years - Used a real estate agent 92% - Sold for 98% of list price - Reduced asking price at least once - 49% - Had to delay selling because value was lower than mortgage 13% - Offered incentives (home warranty or closing costs) 14% 2014 Profile of Home Buyers and Sellers
- 38. Home Selling & Real Estate Professional - MA - Found agent through referral 45% - Used same agent used before 26% - Only contacted one agent - 69% - Listed or advertised in MLS website 92% - 85% reported that they would definitely (65%) or probably (18%) use the agent again. 2014 Profile of Home Buyers and Sellers
- 40. For-Sale-by Owner (FSBO) Sellers - MA - Did not use agent 7% - Knew buyer before purchase 43% - FSBO was contacted by buyer they did not know - 33% - Did not want to pay a fee or commission 33% 2014 Profile of Home Buyers and Sellers
- 42. Group Writing Exercise #2 Write an ad for a Twitter post. Maximum characters = 140!
- 44. WHAT IS ADVERTISING TODAY?
- 45. Agents 91% of agents use social media to some extent
- 46. Factors to Consider Market Reach Frequency Continuity
- 48. MLS Agent - Reverse Prospecting Consumer - MLS Alerts
- 49. Websites 97% of buyers search the Web National Realtor.com Zillow Trulia Local Boston.com T&G.com Company Can they find you? Personal Can they find you? Syndication Sites
- 50. Group Writing Exercise #3 Write a ad that you would write in a Craigslist post.
- 52. On-Line Advertising Social Media Location Services Classified Ad sites
- 53. Content on the Web spreads FAST, and nothing is ever really gone Boston Herald October 27, 2009
- 54. 2014 NAR Technology Survey 91% of REALTORS are using Social Media: Approximately: 78% on REALTOR.com 73% on Zillow & Trulia 66% on Broker Site 57% on Agent Site 41% on Facebook 41% in Craigslist
- 55. Source s Source: Compete.com April 2010 *Facebook has had more monthly visitors than MSN for an entire year. * Last month, Facebook got more US Traffic than Google!
- 56. Potential Risk Areas with Social Media Defamation (Libel) Copyright Infringement Antitrust Violations Fair Housing Violations Harassment NAR Code of Ethics Violations (Think about Article 1, 2, 12, and 15)
- 59. Flyers Product Services Personal
- 60. Direct Mail Mass Mailing Target Marketing
- 61. Information Sources Used in Home Search Real Estate Agents: 89% Yard Signs: 51% Mobile of tablet website or application: 45% Open House: 45% Mobile or tablet search engine: 42% Print newspaper advertising: 23% NAR Field Guide to Quick Real Estate Statistics July 2014
- 62. Purpose of Advertisement Sellers Ads dont sell housesPeople do!
- 63. Purpose of Advertisement Target Marketing Who are they? What do they need? What do they want? What do they care about? WHAT IS IN IT FOR ME?
- 65. Writing Group Exercise #4 In your groups write an advertisement that you could use in a print brochure, MLS, or dialog for a video.
- 67. Blind Advertisements 254 CMR 3.00 9 (a) Broker Identification. No broker may advertise real property to purchase, sell, rent, mortgage or exchange through classified advertisement or otherwise unless he/she affirmatively discloses that he/she is a real estate broker. No broker shall insert advertisements in any advertising publication or other means where only a post office box number, telephone, facsimile, electronic mail number or street address appears. All advertisements shall include the name of the real estate broker.
- 68. Blind Advertisements Print Ads Signs Websites Social Media
- 69. Fair Housing Basics Describe the house, not the type of person you feel should live in the house ALWAYS avoid discriminatory advertising and illegal steering
- 70. Rentals Landlords can set standards for renters However, they must apply them to everyone equally Examples include: income range, credit checks, landlord references, work references, criminal background check (CORI), and Housing Court cases, etc.
- 71. Rentals: Limited Exceptions Rentals & Children State law provides limited exemptions for owners of certain types of residential properties. These exemptions do not apply to Real Estate Agents
- 72. Rentals: Limited Exceptions Rentals & Children - #1 Dwellings containing 3 apartments or less, one of which is occupied by an elderly or infirm person for whom the presence of children would constitute a hardship. An elderly person means a person 62 years old or over, and in infirm person means a person who is disabled or suffering from a chronic illness.
- 73. Rentals: Limited Exceptions Rentals & Children - #2 The temporary leasing (1 yr. or less) of a single family dwelling, a single apartment, or a single unit of a condominium, by the owner of such dwelling who ordinarily occupies the dwelling as his or her principal place of residence.
- 74. Rentals: Limited Exceptions Rentals & Children - #3 The leasing of a single dwelling unit in a two family dwelling, the other occupancy unit of which is occupied by the owner as his/her residence.
- 75. Inducements Agents Consumers Third Party
- 76. Real Estate Ads Would you change anything?
- 78. Bob Falter, PhD, GRI Broker Associate ERA Key Realty Services Worcester Blog www.ShrewsburySells.com Social Media www.twitter.com/bobfalter www.facebook.com/rgfalter www.linkedin.com/in/bobfalter Thank you for Attending