Owning, purchasing and/or selling a home can be a daunting process if you haven't done it before. Every year new rules and regulations are being enforced in the Real Estate market. It's extremely important to understand these changes as both a buyer and seller.
One of these new regulations is Assembly Bill 2018 since it will directly affect realtor "team names." What constitutes a "team name," specifically on ads and signage in the current system, can create confusion for consumers because realtors might use "fictitious" names for the realtor team during a sale and/or on their advertising. Which entity is responsible for what? A result of work from both the California Association of Realtors and the California Bureau of Real Estate, Assembly Bill 2018 addresses this confusion with new and improved guidelines regarding exactly what can be recognized as a "team name."
Currently, a "team name" is a professional identity used by a salesperson, team or individual broker. With Assembly Bill 2018, any advertising -- including online ads -- displaying a team name must now also display the supervising broker's identity and contact information. Doing so makes it much easier for consumers to know exactly who is responsible for what.
Although the bill will most likely not be enacted until next year, it faces no known opposition and is expected to pass easily. Real Estate professionals need to stay Go team?