Definition of Promotional Materials
Promotional Materials are defined as those materials which you would distribute to peers or referral sources within the Mortgage, Real Estate, Legal, and Appraisal, Inspection, or Financial Services industries in order to promote your business in the hopes of gaining referrals. In addition, Promotional Materials are also defined as those materials which you use to promote our Brokerage’s name, brand, and identity, along with your own identity. This includes (but is not limited to) items like golf balls or golf towels, shirts, pens, coffee mugs, awards, etc.
Each promotional item will be evaluated on a case-by-case basis to determine whether or not full brokerage information needs to be displayed. In any case, if anything has the individual Agent or Broker name on it, it is the policy of this Brokerage that the proper title as dictated by FSCO will follow your name (i.e. Mortgage Agent or Mortgage Broker).
Please submit all Promotional Material ideas / proofs to the Principal Broker for approval before purchasing and distributing so they can be approved as Promotional Materials as per this definition.
Use of Authorized Names
For the purposes of marketing and advertising, you are only permitted to use the name under which you are registered on the FSCO Website. To verify what name you are registered under, visit http://www5.fsco.gov.on.ca/mbsweblist/ and search on your legal name or your license number. This is the name you must conduct your business under, and must be the name you use on all advertising and marketing materials.
For example: If your first name is David, and you are registered on the FSCO website as “William,” then you must use your full first name when marketing yourself unless you have asked FSCO to include an alias for you under the license listing. You cannot market yourself as “Bill” or “Willie” unless the FSCO Listing also has this name listed (usually in brackets, at the end of your given names).
Please note that FSCO will accept “alias” names under which you can market yourself, as long as you notify them via email or in writing. Contact FSCO via telephone at 1-800-668-0128 and speak with the Mortgage Broker Licensing section to begin this process.
Use of Title (Broker/Agent)
You must always ensure that you list yourself either as
· Mortgage Agent, or
· Agent
· Mortgage Broker, or
· Broker
in all marketing and promotional materials. These titles must appear immediately following or below your name. You may use descriptive phrase such as “Specialist in Retail and Commercial Mortgages” or “A Highly-Trained Mortgage Expert” in addition to your legal title, but these phrases have to be in addition to your title of Mortgage Agent or Mortgage Broker.
For example:
John Doe, AMP, Broker
A highly trained mortgage specialist
Mortgage brokers and agents must disclose their license number and the authorized name and license number of their home brokerage in all of their public relations materials.
All advertising must be approved by the principal broker or designate before final orders are placed. This includes the ordering of business cards, printed material, websites, media and advertising, flyers, brochures, and all other marketing materials, Brokerage Name and License number must be prominently displayed along with Head office address.
The principal broker will approve the draft ad, and must also approve the final artwork or content before the order is finalized.
If a Broker or Agent wishes to change the name in which they are licensed (e.g. to add a bracketed name, to change to a married name, etc.) a written request, with supporting documentation if required, must be submitted to the FSCO licensing department to have the change approved.
Use of Trade Name and Franchisee Name
Real Mortgage Associates Inc. is the name that appears on FSCO’s website, 10464 is our brokerage license number. Regulation 188/08 clearly states that all marketing, advertising, promotional materials, business cards, etc. must contain this name beside our brokerage license number.
False, Misleading or Deceptive Information
Any advertising or marketing materials you use must not contain any misleading or deceptive information.
Misleading representations may be the result of:
Negligence
Incompetence
Intentional misrepresentation
Improper use of disclaimers
Improper reliance on industry terms
Incomplete comparative ads
Implied endorsements
Improper use of teasers
Use of unsubstantiated exaggeration
Lack of timely reviews of advertisement
Examples of False or Misleading Advertisements
Providing sample monthly repayment amounts for mortgage loans requiring no repayment of principal, without properly identifying that the payments shown represent only the interest portion;
Advertising payment amounts for mortgage loans with unusually long amortization periods that do not specify the amortization period;
Advertisements which contain repayment figures but do not contain an indication of the amortization period used to determine the repayment figure;
Advertisements for interest-only mortgages that do not specify that the repayments do not include any principal amounts
While in some instances the term “for illustration purposes” may be included with advertisements such as the above, it may or may not be sufficient to ensure that the ad is not misleading. The best practice is ABC: Always Be Clear.
Business cards
[Reg.188/08s.5-6]
Subject to guidelines established by FSCO, the name or Real Mortgage Associates Inc. will be prominent on all business cards. The brokerage license number will appear under the company name. The broker’s or agent’s name s registered with FSCO and FSCO’s registration number will appear with the title broker (or mortgage broker) or agent (or mortgage agent) depending on their licensing qualifications. No other titles will be permitted on business cards.
If an agent is operating from a location where the public is invited to do business, this location must be listed as a branch office with head office and that address may be indicated on the business card. If your location is not registered as a branch office, that address may not be shown on the business card. The Head office address must be listed and your local phone number may be included on the card.
Use of names
On all advertising materials, brokers or agents where identified, must use their legal names as they are licensed with FSCO, or an alias or known-as name, which has also been licensed with FSCO. No other names are permitted in any advertising materials.
Yellow Pages
Yellow Pages ads must be approved in advance by head office. In all display advertising, Real Mortgage Associates Inc. and the corresponding license number must be prominent. In addition, your name and license qualifications (broker or agent) must also be indicated.
Brokerages must answer their telephones using either their legal name or trade name as registered with FSCO.
In the case of a simple listing, the listing must be in the name of Real Mortgage Associates Inc. Your name as broker or agent may also appear in the listing, but under no circumstances may the listing be in your name alone.
If you operate a personal Corporation, that corporation must be invisible to the public. Its name cannot be used in any advertising or marketing materials and is there for payroll purposes only. You must represent yourself as a broker or agent of Real Mortgage Associates Inc. at all times.
Websites
Brokers and agents are permitted to maintain personal websites. Although the URL for the website may belong to the broker or agent, all content on the site shall refer to Real Mortgage Associates Inc.
All content on the sites must be approved by head office. The homepage must refer to Real Mortgage Associates Inc. and show the license number of the company. All other pages must indicate that the agent or broker is a representative of Real Mortgage Associates Inc., indicating the licensing designation.
Other forms of advertising
The content, appearance, and messaging in all other forms of advertising must be consistent with Real Mortgage Associates Inc.’s overall advertising philosophy. All advertising must be approved in advance by head office.
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