The Board of Registration has finally released information about how real estate teams may operate in the Commonwealth of Massachusetts. A few important take-a-ways include:
- Advertising must make it clear to consumers that they are dealing with group that is part of a readily identifiable licensed brokerage.
- Team names cannot include the words “realty” or “real estate” in name, and the board has a list of terms to avoid in the team name
- Principal Broker must adhere to all requirements regarding supervision, money handling and payment of commissions as if each licensee in the firm is working individually.