In early May, a newspaper article was passed around our office which churned up more than a few laughs from the staff. New York City based Rapid Realty offers its Real Estate Agents a 15% raise in their commission split if they get a tattoo of the broker's logo. Check out the article here. Turns out, their decision to get a tattoo of Rapid Realty's logo could result in a potential License Law violation.
Lieb at Law and Lieb School have gotten their hands on the new Real Estate License Law Advertising Regulations which will take effect on January 2, 2014. Anyone with a tattoo of their broker's logo may want to pay particular attention to sections (a)(1) and (c)(1) of these new regulations.
Section (a)(1) defines an advertisement as "promotion and solicitation related to licensed real estate activity, including but not limited to, advertising via mail, telephone, website, e-mail, electronic bulletin boards, business cards, signs, billboards, and flyers."
Section (c)(1) states that any advertisement "shall indicate that the advertiser is a real estate broker or provide the name of the real estate broker or real estate brokerage and either: (i) the full address of the real estate broker or real estate brokerage or, (ii) the telephone number of the real estate broker or brokerage."
So, agents with a tattoo of your broker's logo - that tattoo just might make you a walking advertisement! Make sure your tattoo is in compliance with your license law. You have until January 2, 2014 to schedule another session at your local tattoo parlor to add your broker's name and address or telephone number to go alongside your broker's logo!
The sign off line of that May 2nd article could end up being more applicable than the author probably imagined.
"Perhaps getting permanently branded with a company logo gives a whole new meaning to the term 'walking billboard.'"