Advertising checklist

by Ron Walker, TAR director of legal affairs   Use these tips as a starting point to make sure your ads comply with important rules and regulations. This list is not comprehensive.

• Make sure the ad is not only true and accurate but that it also does not create a misleading impression.
• Include the name of the real estate firm or broker.
• Identify the professional or license status of people in the ad. Use of the term REALTOR® may be used to identify this status.
• If the salesperson’s name is the only name to appear in the ad, make sure to include the name of the salesperson’s broker.
• Make sure the price published is agreed upon by the owner.
• If any service is offered free of charge, be sure the service is not tied to or contingent upon any service for which you will be compensated.
• If the ad offers any inducements, describe the conditions for the inducements.
• Disclose any ownership interest you hold in the property.
• If you advertise any loan information, make sure the ad complies with the requirements of Regulation Z: 1) If the ad gives info about loan terms, they must be available to a qualified buyer; 2) If the ad publishes a rate of finance charge, including interest, points, and loan fees, the ad must use the words "annual percentage rate (APR)." If the finance charge can increase over the term of the loan, the ad must state this; 3) Additional disclosures are required when including info about downpayment requirements, terms and repayment periods, and amount of installment payments, and finance charges.
• Do not create an ad that implies a limitation to a protected class that might violate fair-housing laws.
• Get a knowledgeable person who did not write the ad to review it for potential problems.

Buyers & sellers, visit www.texasrealestate.com.
REALTORS®, visit www.tar.org.