How to advertise ‘sold’ properties from a previous agency

When we are riding high on our successes, we want to share that with friends, colleagues and potential clients. Especially in today’s challenging market, it can be a real asset to a productive agent to market successfully closed transactions. How does the agent market sold properties if she changed brokers after settlement?

For example:

Agent is with ABC Realty when she lists a property for sale with a list price of $1,500,000.00. Despite the times, she receives a full-price offer and the transaction is scheduled to close on the 18th. The transaction closes as scheduled but on the 19th, Agent moves her license to XYZ Select Homes. Agent wants to advertise that she sold a house for $1.5 million, but can she?

She can but she needs to do a couple of things to keep herself (and her new broker) out of hot water. The agent must include the business name and telephone number of XYZ Select Homes in her advertisement because that is her current broker of record. However, XYZ Select Homes was not the listing broker. In fact, it was not involved in any way with the sale of the property. Agent, therefore, needs to include language that clearly identifies ABC Realty as the listing office that was also responsible for the sale.

There are no specific provisions in the law or the regulations that address this issue. There are no magic words or phrases that need to be employed but it needs to be done so XYZ Select Homes is not looking at a claim for false advertising. We recommend being clear (a footnote might work) so that a consumer reading the advertisement will understand which brokerage was involved with the sale.

As always, be sure to have your broker and/or legal counsel review an advertisement BEFORE it is published.