Sandra is a licensed Minnesota real estate broker who advertises a property for sale without including her licensed business name in the advertisement. Under Minnesota Statutes Chapter 82, this type of advertising is known as what, and what consequence may result?
Correct Answer
A) Blind advertising; it is a violation of Ch. 82 and may subject Sandra to disciplinary action
Under Minn. Stat. Ch. 82, advertising a property for sale without identifying the licensed broker or brokerage firm is called 'blind advertising.' It is a violation of Minnesota license law because consumers cannot identify the licensed professional behind the advertisement. The MN DOC may impose disciplinary action, including fines or license suspension.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Broker supervision is the legal obligation of a designated or managing broker to oversee and be accountable for the real estate activities of all salespersons and associate brokers operating under their license.
Commingling is the illegal act of mixing client funds with a broker's personal or business operating funds, while conversion is the unauthorized use of client funds for the broker's own benefit. Both are serious violations that can result in license revocation.
Commingling is the illegal act of mixing client trust funds with a broker's personal or business operating funds; conversion is the misappropriation of those funds.
More Practice Of Real Estate Questions
In Wyoming real estate practice, an associate broker or salesperson is not associated with a responsible broker at renewal. What should the licensee remember?
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