Overseas Property Expo Cork 23rd June

Brendan Burgess

Brendan Burgess

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There is a big ad in today's paper about this exhibition in the Silver Springs Hotel.

There is no mention of the individual or company behind the ad.

I have clicked on the site and it does not mention the name of the promoter.

Is this legal? Are they not obliged in Irish law to name the person or company behind it?

Is anyone familiar with the ASAI guidelines? Is the anonymous company breaching these guidelines or is the Irish Times breaching them by publishing such an ad?

I would recommend that no one should go along to a seminar such as this where they do not disclose who the principals are? If by any chance, someone is foolish enough to go along to this Expo, you might post back with the name of the company who is promoting it.

Brendan
 
Brendan,

Discussion of the promotor of this exhibition is banned on this site.

Perhaps you need a scan.

Rgds, C.
 
Thanks cerebros.

So MacAnthony are behind this expo?

Does anyone know if a company must disclose the legal entity behind the advertiser or website?

Brendan
 
Legally, they should disclose the entity behind their print ad.
But as long as no-one reports a problem, you get away with it.

For the website it depends where it's hosted - laws are quite different from country to country.

There's a whole grey zone, and I think Mac Anthony's lawyers know that all too well.
 
Google for "overseaspropertyexpo.com" and "MRI" or "MacAnthony" for some relevant reading.
 
UrbanDev said:
Legally, they should disclose the entity behind their print ad.
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I never heard of such a law. If there is one perhaps someone could post a link to the relevant statue?

Over the years I have seen several print ads which were "teasers" in which the principals behind the product/service were not revealed.

aj
 
it could just be one of their agents hosting the expo, so its not technically them. Just someone who is endorsing their product.
 
ajapale said:
Over the years I have seen several print ads which were "teasers" in which the principals behind the product/service were not revealed.

aj
Click to expand...

I don't have the EU guidelines, but they're quite in line with the US FCC (Federal Communications Commission).

What are the basic advertisement identification rules?
FCC regulations say the identity of the advertiser should be clear, but
the FCC rule does not contain specific duration or height requirements for text sponsorship identification in commercial advertising.

Is there any commercial advertising not subject to the sponsorship identification rule?

“Want ad” or classified advertisements sponsored by an individual are not required to have identification.

Of course everything depends on which "product" you are selling. If you are a cigarette or pharma brand, you have a lot more restrictions than the real estate sector.
 
The Federal Communications Commission (FCC) is an independent United States government agency, directly responsible to Congress. The FCC was established by the Communications Act of 1934 and is charged with regulating interstate and international communications by radio, television, wire, satellite and cable.
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Im afraid that how the United States regulates its broadcast media has no bearing on how the Republic of Ireland regulates advertising in its print media.

Im almost sure that there is no law compelling print advertisers to divulge their princiapals. How many small ads do you see with only a box number or a mobile number?

However it is possible that certain regulated industries impose certain restrictions on how goods and services in that sector are advertised. Since overseas property investment is not a regulated industry I doubt that any regulation is being breached by not revealing their principals in their print advertising.
 
ajapale has a point alright - remember "Big Ed Loves Mona" for example? No mention of the company involved there.
 
but if you look at previous posts, there is a link to the outcome of the advertising complaints department and they HAVE TO PUT THEIR NAME on their advertisements as a result of that.

Which is why I said it's an agent ie the agent pays for the advertising, the venue but all the leads and phone calls as a result of this add go directly to the parent company resulting in reduced commission to the agent. Sales staff are sent over if requested or the agent handles it, but they don't have to put the name on the add if thats the case.
 
evenstar said:
but if you look at previous posts, there is a link to the outcome of the advertising complaints department and they HAVE TO PUT THEIR NAME on their advertisements as a result of that.
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What link? What "advertising complaints department"? If you mean the ASAI then they are an industry and not a statutory organisation and have no real power.
 
In the locked thread at the very top of 'overseas property investment' on the first post there is a link type thing to click on showing the reports on the complaints regarding their advertising...
 
Thanks evenstar,

The ASAI upheld the complaint stating....

"The Code also requires that advertisers should not exploit the credulity, inexperience or lack of knowledge of consumers and that an advertisement should not mislead by inaccuracy, ambiguity, exaggeration, omission or otherwise."


Bulletin06/5 Batch No. 165 RefCA/0606/0676 ProductProperty AdvertiserMacAnthony Realty International (MRI) Agency MediumPress Complaint
A press advertisement for a Bulgarian Property Expo was the subject of objections. The complainants, who were also involved in property promotions, considered the advertisement misleading as they considered that it gave the impression that it was a dedicated Bulgarian property expo with many agents and companies represented when it was an exhibition organised by one company. They also objected that it was a property expo organised by a single company without clearly identifying or stating the name of the company or agent organising the exhibition. They considered the claim to be the biggest Bulgarian property expo ever seen in the UK to be at best disingenuous as well as being geographically and politically inaccurate. 2006 Code
2002 Code 2.09 2.20 2.22
Response
The advertisers, MRI, stated that they failed to see how the number of exhibitors at an exhibition was in any way tied to the level of service provided to clients. They have participated in hundreds of exhibitions and in their experience the main factor of importance to client satisfaction is the ability for clients to sit in comfort and have a private discussion with a representative, and it was not the size of the venue or the number of representatives present. They agreed that the advertisement gave the impression of an exhibition dedicated to Bulgarian property but they do not see how it gave the impression that many agents and companies would be represented. They stated that there were many agents present and several companies formally represented at the exhibition including MRI Overseas Properties, Capital Finance Partners (Mortgage Brokers), Martinez Echevarria (International Lawyers) and HIFX (Currency Exchange Advisers). They apologised for the use of the term “in the UK”. They did not commission the advertisement and are unaware who was responsible for the mistake. Conclusion
Complaints Upheld.

The Code of Advertising Standards requires that before offering an advertisement for publication, advertisers should be able to provide documentary evidence to substantiate all claims, whether direct or implied, that are capable of objective assessment. The Code also requires that advertisers should not exploit the credulity, inexperience or lack of knowledge of consumers and that an advertisement should not mislead by inaccuracy, ambiguity, exaggeration, omission or otherwise.

The Complaints Committee noted the response of the advertisers. They considered that the advertisement gave the impression that the property expo was an independent property expo and as such consumers would normally expect at least a number of exhibitors to be present. In the circumstances the Committee upheld the complaint.
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But as I said the ASAI are an industry self regulatory body and not a statutory body and, as such, don't really have much power to do anything. What's important here is what, if anything, the relevant legislation says about such advertising.
 
Anyone wishing to make a formal complaint against MRI can do so at:
David Oliver Compliance Officer

The National Federation of Property Professionals
Arbon House
6 Tournament Court
Edgehill Drive
Warwick
CV34 6LG

Registered in England No. 897907

Telephone: +44 (0)1926 496800
Facsimile: +44 (0)1926 417789
 
The National Federation of Property Professionals is a UK industry body.

Does it have any role / juristiction in the Republic of Ireland?
 
Activities of this sort will shortly come under the auspices of the NPSRA (National Property Services Regulatory Authority) here in Ireland. Banks have already been informed that companies setting up accounts to take deposits for property cannot be facilitated until after legislation has been passed (which is supposed to happen this Spring). They will then be required to request an NPSRA licence before allowing the opening of such an account. Details of how to apply for a licence or make a formal complaint are available at www.npsra.ie.

As mentioned above the Advertising Standards Authority of Ireland (ASAI) have already taken action against the aforementioned company for not putting their name to the Overseas Property Expo shows (and others such as the Bulgarian Expo, Portuguese Expo and Egyptian Expo). Consequently if you see advertising for these shows it should now contain a reference of some description to the company (usually in the small print of course). If you see an advert without this reference you should complain to the ASAI (www.asai.ie)

There is an article on the various options available to those investing in overseas property who have problems or complaints at [broken link removed].
 
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