Broker Lisa runs 'Northstar Realty' in Duluth, Minnesota. She wants to run a radio advertisement that says: 'Buy your dream home with Northstar Realty — call 218-555-0200 today!' The ad does not mention that Northstar Realty is a licensed real estate brokerage or state any license numbers. Under Minnesota law, this advertisement is:
Correct Answer
C) Compliant, because the brokerage name 'Northstar Realty' is clearly identified in the ad
Under Minn. Stat. Ch. 82, the primary requirement for real estate advertising is that the sponsoring broker or brokerage be clearly identified. Lisa's radio ad prominently features 'Northstar Realty,' which satisfies the identification requirement. Minnesota law does not require that the word 'licensed' or a license number appear in every advertisement, nor does it require a physical address in radio ads.
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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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