Let’s Revisit Truth in Advertising that requires updating status of listings
Pacita makes the point again! If one lists properties all over the place, keeping them updated is part of the job. Too many agents want the "exposure" without the responsibility. Please comment on Pacita's blog.
Let’s Revisit Truth in Advertising that requires updating status of listings
Three years ago, I blogged about TRUTH IN ADVERTISING LAWS ---- Avoid a lawsuit, complaint, etc filed because of false advertising
It helps to revisit topics that are relevant and may even be more timely today, especially with the slew of people who are offering services for loan modifications, or avoiding foreclosures.
Update listing status
Today, we have so many places where we advertise and post our listings. Some of us post on Trulia and Zillow (sometimes it’s done automatically for us by our brokerages).
IF we claim or post the listing ourselves then we have to remember that when the status changes, we should return to those sites to update the status since they won’t change unless you change them.
Too often, I get inquiries from people who found certain listings on either Zillow or Trulia. And when I check the status, the listings are often pending, and in many cases, sold! But the listing agent didn’t update the listings. And if those listings show the property as still Active even when they’re not, that’s considered False Advertising.
Truth in Advertising LawsFrom www.Business.gov, here's a link to Truth-in-Advertising LAWS that states:
"Advertising laws are aimed at protecting consumers by requiring advertisers to be truthful about their products and to be able to substantiate their claims. All businesses must comply with advertising and marketing laws, and failure to do so could result in costly lawsuits and civil penalties. So before you start an advertising campaign, it's important you understand some basic rules."
The Federal Trade Commission (FTC) is the main federal agency that enforces advertising laws and regulations. Under the Federal Trade Commission Act:
- Advertising must be truthful and non-deceptive;
- Advertisers must have evidence to back up their claims; and
- Advertisements cannot be unfair.
Yes, there are guides against Bait Advertising"an alluring but insincere offer to sell a product or service which the advertiser in truth does not intend or want to sell. Its purpose is to switch consumers from buying the advertised merchandise, in order to sell something else, usually at a higher price or on a basis more advantageous to the advertiser.” The primary aim of a bait advertisement is to obtain leads as to persons interested in buying merchandise of the type so advertised.
Realtor Code of Ethics.Refer to Article 12.REALTORS® shall be honest and truthful in their real estate communications and shall present a true picture in their advertising, marketing, and other representations. REALTORS® shall ensure that their status as real estate professionals is readily apparent in their advertising, marketing, and other representations, and that the recipients of all real estate communications are, or have been, notified that those communications are from a real estate professional. (Amended 1/08)
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