Social media guru overlooks the basics
The situation last month:
Silas Salesperson began marketing properties he had not quite yet listed as “Coming Soon” on his Facebook page. Was this one of his more brilliant marketing ideas?
Answer
Silas’s big idea wasn’t such a great one where RAHB’s Rules and Regulations are concerned.
Section 10, Advertising, Sub-section 10.05 states:
10.05 No marketing of any property, including placing a sign on any property, is permitted until the commencement date of the Listing Agreement pertaining to such property.
It’s pretty clear that unless Silas has a signed listing in hand, he should not be marketing properties anywhere – including his social media sites. Properties may be advertised only after the listing is signed and in effect , and not before.
This kind of advertising may also contravene RECO’s Advertising Guidelines. The Prohibitions sections notes that a seller’s permission is required to advertise or “identify” a property, and permission is typically granted in a signed listing agreement.
If the listing is not going to be on MLS until it is “ready” for showing, why not get an exclusive listing for a few days so that the property can be advertised in a general way.
I think the client must be informed that the best results usually come from exposing a property to the widest possible audience. The client’s understanding of the advantages and disadvantages of an exclusive listing should be ensured.