NAVIGATING THE GUIDELINES

*ACHIEVEMENTS, AWARDS, CORPORATE CLUBS

This is permitted, under certain conditions. If there exists a time limit or membership length, that information must be clearly displayed. For example, if you won an award for “best agent” in 2013, that year should be clearly expressed within your advertising. Submit any documentation for these to the Brokerage directly.

ADDRESSES

If an address is present, it must be the Brokerage’s address. Personal addresses are not permitted for use and so the Brokerage address must be laid out in these cases. For our Brokerage address, refer to the Brokerage Information document.

ADVERTISING FOR PARTICULAR MORTGAGES

• Mortgages For Fixed Amounts: Advertisements for a mortgage for a fixed amount that state the interest rate or the amount of any payment or of any charge other than interest, must also include the APR and the term of the mortgage and the APR must be displayed in a manner consistent with the remainder of the advertisement. If the APR or the terms of the mortgage are not the same for all mortgages to which the advertisement relates, the disclosure must be based on an example of a mortgage that fairly depicts all those mortgages and is identified as a representative sample of them.
• Mortgages Securing Lines Of Credit: Advertisements for mortgages that secure lines of credit that state the annual interest rate or the amount of any payment or of any charge either than interest must also include the annual rate of interest on the date of the advertisement. They must also include any initial or periodic charges other than interest and this information must be displayed as prominently as the other information in the ad.
• Interest-Free Periods: If an advertisement states or implies that a period of the mortgage is free of any interest charges, the ad must indicate whether interest accrues during the period and is payable after the period. If interest does not accrue during a period the ad must clearly state: (1) that there is an interest-free period or grace period, (2) the conditions that apply to qualify for the interest-free period, and (3) the APR or the annual interest rate if the conditions are not met.

BUSINESS CARDS

The mandatory requirements persist. The use of certain titles, such as “Specialist” may be misleading without the correct verification. Please see the Other Professional Designations and Stated Experience guidelines for more information.

COMPARATIVE ADVERTISING

This advertising draws a comparison either directly or indirectly to other competitors in some way. A phrase such as, “we do more mortgages than anyone else” is considered as a bad example of comparative advertising. While it is permitted, this advertising should be avoided in most cases. To be approved, Comparative Advertising must be clearly worded, in good taste, and verifiable.

DELEGATION OF TEAMS

Advertising as a team is usually not permitted. However, if permitted, any and all teams must have Brokerage Approval and the responsibilities and delegations must be laid out in an agreement, also approved by the Brokerage. Please contact the Brokerage for more information if you are interested in forming a team. Note: some regulators also require certain verification for team approvals. Please also review the Team Names guidelines if your advertising contains a reference to a Team.

DISCLAIMERS

Any limitations, restrictions, or conditions must be appropriately outlined. In general, disclaimers are discouraged as they can lead to misrepresentation of the advertisement. The use of terms, such as “for illustration purposes”, “terms and conditions apply”, etc. , should be limited to advertising situations where space limitations are legitimate. For more information, refer to the Restrictions And Conditions guideline.

DISCREDITING OR DISPARAGING ADVERTISEMENTS

Advertisements that unfairly discredit or disparage other products, services, advertisements or companies, or exaggerate the nature or importance of competitive differences are prohibited.

DOMAIN NAMES & EMAIL ADDRESSES

In general, there is no regulation on what is permitted for domains and email addresses, however, there are some general considerations that you should be aware of. For instance; do not use any misleading meta tags, such as competitor’s names, do not use trademarks that you’re not approved to use, and ensure that the Mandatory Requirements are present in any email signatures.

ELECTRONIC ADVERTISING (SOCIAL MEDIA, WEBSITES, ETC)

This advertising includes, but is not limited to; Social Media Accounts, Websites, Emails, etc. The Mandatory Requirements must be present & clearly visible on a user’s profile page, as well as adhering to the guidelines outlined throughout this document. Any sources or documentation referenced should generally be credited via citation. For Websites, every viewable page must clearly indicate the Mandatory Requirements as well as the Brokerage’s & Agent’s relevant License info. For Social Media, it is recommended that personal accounts be separated from business accounts. Additionally for Social Media, the Mandatory Requirements must all be visible on an Agent’s profile page. Also for Alberta, the Brokerage Information must also be visible in each post that is made.

FALSE OR MISLEADING

The contents of your advertisement must not be false or misleading. Some considerations include;

• The general impression it creates;
• The intended meaning in all of your words is clear without any implied meaning;
• The literal meaning of the contents of your advertisement;
• All services being provided should be clearly represented and defined;
• It is clear on who is providing which services (especially with multiple parties);
• The contents contained should be accurate, truthful, and not misleading;
• The contents contained should be laid out in a clear and concise manner;
• The contents should be current, accurate, and verifiable;
• Whether any claims and supporting claims hold up over time;
• The use of industry terms, not generally understood by the public should be avoided
• In general, all claims must be reasonably substantiated;
• The contents are considered on the balance of a reasonable Consumer.

FEDERAL LEGISLATION

There exists certain pieces of Federal Legislation that every agent should be familiar with while creating advertising and promoting advertisements. Refer to the following legislation for more information; Canada’s Anti-Spam Legislation, Competition Act, and Canada’s National Do Not Call List.

*IMPLIED ENDORSEMENTS

Any implicit or explicit endorsements can be confirmed with written documentation. This does not need to be presented with your advertisement, but will need to be included as part of the Brokerage Approval.

INCENTIVES

Incentives can be advertised by individual Agents, provided that the incentive brings business to the whole Brokerage and is in reference to a Brokerage-wide policy. Seller incentives are also permitted for use, so long as the advertisement makes it clear that it is from the seller and not the Brokerage.

INDUCEMENTS

Inducements cannot be advertised by individual Agents, unless done so through the Brokerage. While inducements can be offered on a case by case basis, before an offer an inducement is made to a client, there must be direct approval from the Brokerage (this can be via email or other written communication).

*LOGOS

BRX logos are permitted to be used. However, if Brokerage Logos are used, a Brokerage Logo alone is not sufficient to represent the Brokerage. The Brokerage name must also be clearly visible and not obscured or misrepresented in any way. You can access BRX Logos here. If other 3rd party logos are used in your advertising, ensure that you have received express and written approval from the 3rd party to use those aforementioned logos. Supply this approval to the Brokerage. if you want to use a personal logo you must confirm that it is allowed in your province and email ask@brxmortgage.com to confirm it is approved prior to use of any additional logos on your marketing materials.

*OTHER PROFESSIONAL DESIGNATIONS

These are permitted for use and can be displayed on advertising. However, corresponding documents or certificates must also be ready, valid, as well as submitted to the Brokerage.

*PERFORMANCE GUARANTEES

Performance Guarantees are permitted for use, under certain conditions. These are offered by the Brokerage (wording should align with that intention) and you must have approval from the Brokerage. Details for these guarantees must also be available in a written service agreement for Clients. Any conditions or restrictions should be laid out as outlined in Restrictions And Conditions.

PERSONAL CORPORATIONS

If an Agent is operating a personal corporation, that corporation must be permitted by the appropriate regulatory body and invisible to the public. Its name cannot be used in any advertising or marketing materials. It must be used for payroll purposes only. The Agent must always represent themselves as licensed and associated with their Brokerage at all times.

RESTRICTIONS AND CONDITIONS

Any disclaimers or claims are clearly & inconspicuously provided with full disclosure of all and any conditions involved. Including wording like, “Restrictions or Conditions apply”, requires a full written explanation following the False Or Misleading Guidelines, clearly outlined in your advertisement.

*STATED EXPERIENCE

This pertains to certain indications or statements, such as “Mortgage Expert”, “15 years of experience in income properties”, etc. If any Stated Experience is used, this information must be justified and approved by the Brokerage. Submit documentation and an explanation to the Brokerage.

TEAM NAMES

The use of Team Names is NOT permitted without Brokerage approval. This also relates to any Team Branding used within an advertisement or advertising materials. At least one member of the Team must be officially licensed. The Mandatory Requirements must be laid out for each Team Member. If any Team Member(s) are not licensed, that must also be clear.

It must be made clear that the agent, team, or brand is not a brokerage itself. To help make this clear, the use of particular fonts and unique sizes for the Brokerage name is encouraged. However, the Brokerage Name must ultimately be clearly visible and recognizable to consumers so as to not conflict with the False Or Misleading guidelines.

In some jurisdictions, Team Names must be officially registered & approved with the appropriate regulators to be properly considered.

YEARS OF EXPERIENCE

Years of experience must only include licensed activity time and you cannot advertise a combined amount of time (i.e. from your team). However, if combined experience is clearly communicated, not misrepresented, and expressly laid out as to properly represent each person that the advertisement is referring to, this information can be displayed in your advertising.

FREQUENTLY ASKED QUESTIONS

“How do I register a Team Name?”

In all cases, Team Names must be approved by the Brokerage, usually accompanied with delegation documentation. However, in BC, Team Names must also be formally recognized AND APPROVED BY BCFSA. Agents will need to fill out a Team Name Request Form and submit to the BCFSA for additional approval.

“What is advertising?”

Any activity, public notice, or representation an industry professional makes or that someone makes on behalf of an industry professional makes or that someone makes on behalf of an industry professional that promotes an industry professional or their services.

“What are some examples of advertisements?”

Advertising relates to, but is not limited to, the following; all promotional events, all promotional materials, websites, business social media accounts, printed material, circulars, pamphlets, billboards, signage, email signatures, business cards., letterheads, bench signs, fax cover sheets, etc.

“What are the Mandatory Requirements?”

The Mandatory Requirements are as follows; Agent Name, Agent Title, Brokerage Name, Brokerage License Number, & Agent License Number. For more information, review the information here.

“What is an inducement?”

Anything offered to a specific person who is a party (or potential party) to a specific real estate or mortgage transaction transaction / deal to assist, persuade, or cause that person to enter into or complete a specific transaction or deal. For example; paying a borrower’s appraisal fees to close a deal or paying a borrower’s legal fees to close a deal, would both count as inducements.

“What is an incentive?”

Something offered to the public to attract business to the Brokerage. This includes; promises, goods, services, games of chance, contest, or anything else of value.

“What is the difference between an inducement and an incentive?”

Inducements refer to offers made on individual deals for specific client(s) and cannot be advertised by an Agent directly in most cases. On the other hand, an incentive is a Brokerage-wide policy that pertains to all of the Brokerage’s Agents and is allowed to be advertised, so long as relevant Guidelines are followed.