(1)    False advertising. A licensee may not advertise in a manner that is false, deceptive, or misleading.

   (2)   Disclosure of name.

      (a)    Except for advertisements for the rental of real estate owned by the licensee, a licensee shall in all advertising disclose the firm’s name exactly as printed on the license of the licensed individual broker or licensed broker business entity or disclose a trade name previously filed by the firm with the department and shall in either case clearly indicate that the firm is a business enterprise and not a private party.

      (b)    Except for advertisements for the rental of real estate owned by the licensee, a licensee associated with a firm shall advertise under the supervision of and in the name of the firm. The firm’s name as used in advertising shall be clear and conspicuous. This paragraph does not apply to a licensee engaged in independent practice as provided in s. 452.30 (6).

      (c)    Notwithstanding pars. (a) and (b), a licensee may advertise the occasional sale of real estate owned by the licensee or may engage in the occasional solicitation of real estate for purchase by the licensee without complying with pars. (a) and (b), provided that the licensee clearly identifies himself, herself, or itself as a real estate licensee in the advertisement.

   (3)   Advertising without agency agreement prohibited. A firm and any licensees associated with the firm may not advertise a property unless one of the following applies:

      (a)    The firm is the listing firm for the property.

      (b)    The firm or a licensee associated with the firm has obtained consent to advertise the property from the listing firm for the property.

   (4)   Advertised price. A licensee may not advertise property at a price other than that agreed upon with the owner, except that the price may be stated as a range or in general terms if it reflects the agreed upon price.