Recently in South Carolina a judge ruled that the use of certain words in Real Estate Teams will now be prohibited. There is great cause for concern in the real estate world as thousands of marketing dollars have been spent establishing these team names and making them trustable and valid in their markets. Now, the South Carolina judicial system says that if your Real Estate team has Real Estate or Realty in it.. you’re going to have to remove it and start over. Needless to say, many teams are furious over the ruling and asking South Carolina to reconsider.
Over the last decade teams have been trending in real estate making the solo agent a thing of the past. Many companies have had their greatest successes within their teams yielding the lions share of the profit for the brokerages. With Keyword marketing being the standard for online marketing, not using a word like realty or real estate in your name concerns agents that not only will people not know who they are, but they won’t know what they do! The efforts will have to be amped up in the war for a marketing presence. Greater dollars and keener strategy.,
At this juncture in business it’ s best to be mindful that this ruling could make it’s way to Florida. If you’re currently considering teaming up and calling yourselves for example – The Brown Realty Group, you may want to reconsider a shorter version before you market and brand anything with Real Estate or Realty in it.