1. Limited Liability Company Rule Moves Forward |
| I'm Listening: The LLC rule to allow commission payments to be made to Limited Liability Companies, previously adopted by the Real Estate Commission, was published by the State of New Jersey in the NJ Register on Aug. 19. When Will the Rule Take Effect? The LLC rule changes will take effect six months from the NJ Register's publication date. We will notify members once the new regulations are officially in place. |
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2. July Housing Market Data Reports Out Now |
| What are the Key Takeaways? The median sales price in the entire market continues to rise and homes are moving off the market quickly. According to our July report, the median sales price is up 12.5% year-to-date to $495,000, while homes are on the market for an average of 35 days. Where Can I Learn More? Visit njrealtor.com/data for the latest reports on the municipal, county, and state levels. |
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3. Reminder: Participate in NAR's Call For Action |
| What's the Call For Action? While New Jersey Realtors® are protected by state judicial rulings to work as independent contractors, it is essential to establish federal and statewide protections for Realtors® across all states. The National Association of Realtors® urges all Realtors® to ask their representatives to cosponsor HR 5419—the Direct Seller and Real Estate Agent Harmonization Act. How Can I Participate? Click here to take action. |
4. 5K Next Month to Support the Housing Opportunity Foundation |
| I'm In! Join NJ Realtors® Housing Opportunity Foundation on Sept. 12 in Montclair for a 5K walk and run in collaboration with the Montclair Brewery and Big Train. How Much is the Registration Fee? $30 which includes your 5K entry, a free beer, pizza, and live music by Big Train. |
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5 NAR Releases Consumer-Focused Materials to Navigate Real Estate Practice Changes |
| I'm Listening: The National Association of Realtors® launched a consumer guide to written buyer agreements, which outlines what a buyer agency agreement does, why consumers need to sign the agreement, compensation, and more. Where Can I Download the Guide? Click here to download the guide and visit facts.realtor for more information. |
