News & Information: ORRA BrokerWise

New FTC rule may apply to the sale of a real estate brokerage

Friday, March 2, 2012  
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According to Florida REALTORS®, brokerages or brokers who solicit sales associates may need to comply with the Federal Trade Commission’s Business Opportunity Rule (BOR) that became effective on March 1, 2012. BOR requires sellers of business opportunities to provide a one-page disclosure to prospective buyers.

The FTC rule applies only to "sellers of business opportunities,” which in some cases could be a real estate broker or brokerage. The FTC defines a "seller of business opportunities” in the rule, saying it is anyone who:

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