BBB National Programs Electronic Retailing Self-Regulation Program Reviews Advertising for Nick Vertucci Real Estate Academy in Compliance Inquiry, Marketer Agrees to Discontinue Claims
For Immediate Release
Contact: Rebekka Denenberg
New York, NY – December 18, 2019 – The Electronic Retailing Self-Regulation Program (ERSP) has recommended that Nick Vertucci Real Estate Academy modify or discontinue claims made in radio advertisements for its real estate education services.
ERSP is an investigative unit of the advertising industry’s system of self-regulation and is administered by BBB National Programs, Inc. The marketer’s advertising came to the attention of ERSP pursuant to an anonymous competitor challenge and its ongoing compliance review process.
ERSP reviewed claims, such as: “How would you like to put an extra $10 thousand to $15 thousand dollars in your pocket every single month?”; “I was in major debt with a wife and three girls to feed and then I developed my flipping houses formula and now I’m financially free”; and “With my proven formula, you won’t need cash or credit. You’ll just need access to my massive network of real estate investors looking to invest.”
During the course of this inquiry, the marketer agreed to discontinue all advertising and cease all free preview events until at least February 29, 2020 and until all new advertising is reviewed by counsel for compliance with ERSP recommendations. The marketer also voluntarily agreed to cease all three-day seminars and advanced training events temporarily, which ERSP appreciated but noted in the decision that it does not have purview over these events.
ERSP noted that, in light of previous inquiries regarding the same or substantially similar advertising claims, the program determined that the marketer had failed to make a bona fide effort to comply with the previous recommendations. However, due to the extensive measures the marketer has voluntarily agreed to undertake, the program used its discretion to close this compliance inquiry pursuant to the ERSP Policy & Procedures.
ERSP's inquiry was conducted under ERSP Policies and Procedures for the Electronic Retailing Self-Regulation Program. Details of the initial inquiry, ERSP's decision, and the advertiser's response are available on the website.
About BBB National Programs: BBB National Programs (BBB NP) fosters trust, innovation, and competition in the marketplace through the development and delivery of cost-effective third-party self-regulation, dispute resolution and other programs. These programs were formerly administered by the Council of Better Business Bureaus. BBB NP is the home of industry self-regulatory and dispute resolution programs that include the National Advertising Division (NAD), National Advertising Review Board (NARB), BBB EU Privacy Shield, BBB AUTO LINE, Children’s Advertising Review Unit (CARU), Children’s Food and Beverage Advertising Initiative (CFBAI), Children’s Confection Advertising Initiative (CCAI), Direct Selling Self-Regulatory Council (DSSRC), Digital Advertising Accountability Program (Accountability Program), and the Coalition for Better Advertising Dispute Resolution Program (CBA DRM). The programs are designed to resolve business issues and advance shared objectives by responding to marketplace concerns to create a better customer experience. To learn more about industry self-regulation, please visit: BBBNP.org.