True/False - According to CP-40 on Teams, Real estate brokers that function as teams should not advertise teams using the terms "realty", "real estate", "company", "corporation", "corp.", "inc.", "LLC" or other similar language that would indicate a company other than the employing brokerage firm.

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Business

Cara Nielsen

25 February, 11:22

True/False - According to CP-40 on Teams, Real estate brokers that function as teams should not advertise teams using the terms "realty", "real estate", "company", "corporation", "corp.", "inc.", "LLC" or other similar language that would indicate a company other than the employing brokerage firm.

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Yandel Townsend · Answer 1

True

Explanation:

Suppose I am a sole proprietor involved in any type of business, not necessarily real estate, I cannot advertise my small business as a corporation, or even a partnership, or nothing else except the truth, a sole proprietorship.

If you include lies in your advertisements, that is considered false advertising. If you work for a broker and that broker is a limited liability partnership, then you can include the term LLP in your advertisements, but you cannot say its a corporation. Brokerage firms can be sole proprietorships, partnerships, limited liability companies, or corporations, and they must be advertised using the correct term. The people working for the brokerage firms must also advertise themselves properly and using the correct terms.