Team Names and Fictious Business Names

This C.A.R. sponsored law provides that team names are now authorized for use under the California Business and Professions Code. The use of a team name does not require application to CalBRE for a separate license to be issued for that name. Additionally, sales agents may contract with their broker to file for and to maintain ownership of a fictitious business name, although registered with CalBRE under the name of the broker.

No Shill Bidding - Auction companies must disclose bids placed on seller's behalf and neither lender nor auction company working for a lender may require indemnification by the homeowner or listing agent as a condition of lender approval of sale

This law, on and after July 1, 2015, with respect to an auction that includes the sale of real property, prohibits a person from causing or allowing any person to bid at a sale for the sole purpose of increasing the bid on any real property being sold by the auctioneer. The law, however, does allow an auctioneer or another person to place a bid on the seller's behalf during an auction of real property if notice, as specified, is given that liberty for that bidding is reserved. The law also requires in this regard that the person placing that bid contemporaneously disclose to all auction participants that the particular bid has been placed on behalf of the seller.

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Get ready to claim your REALTOR® domain name on the Internet. The National Association of REALTORS® announced that the new .REALTOR top-level domain will be available Oct. 23 to NAR members. NAR is offering a free one-year license to the first 500,000 members who register for a .REALTOR domain. For more information, visit www.about.REALTOR.