Broker Chen operates a real estate office in Minneapolis. She wants to run an advertisement on social media promoting her brokerage's services. Under Minnesota Department of Commerce advertising rules, which of the following elements is MOST critical to include in the advertisement to remain compliant with Minn. Stat. Ch. 82?
Correct Answer
D) The licensed name of the brokerage as it appears on the broker's license
Under Minn. Stat. Ch. 82 and Minnesota Department of Commerce advertising rules, all real estate advertisements — including social media posts — must clearly identify the licensed brokerage name as it appears on the broker's license. This requirement ensures that consumers can identify the licensed entity responsible for the advertisement and prevents blind advertising (advertising without identifying the brokerage). The brokerage name is the single most critical required element.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Price fixing is an illegal antitrust practice in which competing real estate brokerages agree to charge the same commission rates, fees, or other pricing for their services. It is a per se violation of the Sherman Antitrust Act.
Florida brokers are required to maintain transaction records and escrow records for a minimum of five years.
A tie-in arrangement is an illegal antitrust practice in which a seller conditions the purchase of one product or service on the buyer's agreement to purchase a separate product or service.
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