NJ Realtors® Weekly—May 15

Published May 15, 2024

Top Story of the Week

New Jersey Supreme Court Sides With New Jersey Realtors®

The New Jersey Supreme Court issued a victorious decision for all New Jersey Realtors® this week in the James Kennedy, II vs. Weichert Co. case, which reversed and remanded to the trial court for an order dismissing Kennedy’s complaint.

This case considered whether the independent contractor agreement between a broker and a salesperson excludes the salesperson from the Wage Payment Law, a statute that governs compensation paid to employees but does not apply to independent contractors.

The NJ Supreme Court decided that Kennedy “…who agreed in writing to affiliate with Weichert as an independent contractor, must accordingly be treated as an independent contractor.”

The court held that the written agreement is dispositive and defines the relationship between the broker and salesperson.

This decision is the result of a multi-year, multi-pronged lobbying effort to protect independent contractor status, led by the New Jersey Realtors®, for real estate licensees. View the court’s opinion.


Being a Member Has its Perks

Prepare Your Potential Buyers for Homeownership with Freddie Mac

Join Freddie Mac on May 22 at 2:30 p.m. for a free virtual continuing education class. They will present educational tools to share with your clients designed to empower homebuyers and meet diverse homeownership needs.

Attend and learn how to help your clients understand credit, money management, homeownership, foreclosure avoidance, and more. Register here.


How Does a Home Sale Impact the Economy?

The total economic impact of a typical home sale in New Jersey is $145,400. That number is comprised of the income generated from the industry, expenditures related to the home purchase, and more. Click here to learn more.


State of the State

Thousands of Realtors® Travel to Washington, D.C. for the 2024 Realtors® Legislative Meetings

Last week during the 2024 Realtors® Legislative Meetings, New Jersey Realtors® met with federal representatives to advocate for Realtor® businesses and private property rights. Specifically, our Realtor® advocates discussed expanding protections under the Fair Housing Act, ensuring VA buyers maintain professional representation, maintaining independent contractor status under the Fair Labor Standards Act for real estate agents, and more. View the photo album.