Blog

APPLICATION RULES & REQUIREMENTS

I am reaching out today to discuss a challenge with NJMLS. NJMLS will fine you/us for reporting status changes late (such as ARIP, U/C & Closing dates) and for not listing the required properties at all. Fines escalate when multiple offenses occur within the same month, therefore, the fines on the listings for those agents who are not NJMLS members become my fines (as the listing agent), so I get fined for multiple offenses even though the violations are from various, non-member agents. When this happens, there is no way of knowing or tracking which agents caused the escalation in the fine amounts. Due to this challenge, we are now requiring that agents join NJMLS once they incur two fines. You still can use Joan Cohen, Chrissie Glancy or Precision Leverage Management to input your listings, but it is your responsibility to send the status change information to them in a timely manner. One way to think about this is, when the GSMLS is updated, the NJMLS needs to be updated, too. However, if you are late to update the GSMLS and that’s your reminder to update NJMLS, NJMLS may still fine you. I will post more information in the Broker's Corner (on our website) about NJMLS training and regulations so you can all stay abreast of their requirements. Here is the new rule for your reference: Section 9.1 Violations of Rules and Regulations In any instance where a Participant in an association multiple listing service is charged with a violation of the MLS bylaws or rules and regulations of the service, and such charge does not include alleged violations of the Code of Ethics or the Standards of Conduct for MLS Participants, or a request for arbitration, the Service may impose administrative sanctions. Recipients of more than 5 category 1 administrative sanctions/rule violations, more than 3 category 2 administrative sanctions/rule violations, or more than 3 category 3 administrative sanctions/rule violations will be required to attend a hearing of the Rules Committee of the MLS. The Rules Committee shall consist of at least two members of the NJMLS Board of Directors and one member of the NJMLS Technology Committee. The Service will send a copy of all administrative sanctions/violations against a Subscriber to the Subscriber’s Participant and the Participant will be required to attend the hearing of a Subscriber. Failure to attend a hearing within 30 days of receiving written notice of a required hearing may result in Participant’s and Subscriber’s suspension of membership in the Service. Category 1 violation means a rule violation related to listing information provided by Participant or Subscriber. Category 2 violation means a rule violation relating to IDX and VOW displays. Category 3 violation means a rule violation relating to cooperation with a fellow Participant or Subscriber, and mandatory submission of listing to the service. Thank you for your cooperation, NJMLS Support

The 2021 New Jersey Realtors® Circle of Excellence Sales Award is now open! The NJ Realtors® Circle of Excellence® Sales Award® recognizes those members who have demonstrated excellence in the field of salesmanship. This year, there are several important changes are being introduced to streamline the application process: Close Date for Rentals The close date for rentals will now be the MLS Close Date or, for non-mls transactions, the lease execution date. The previous rule stated the close date was the lease commencement date, therefore a one-year exception has been made for the 2021 application so that you may claim a rental whose lease had closed in 2020, but commenced in 2021, so long as it was not claimed on your 2020 application. Verification/Proof Materials All verification and proof materials must be uploaded to your online application before submission. As a reminder, transactions and industry units listed as verified do not require proof materials. To view a list of units requiring proof materials, click here . Online Application Submission Starting in 2021, all applications must be submitted online and approved by the broker/office manager prior to the application deadline. Applications that are not submitted or approved cannot be reviewed and will not be eligible to receive the award. There are no exceptions or appeals to this rule. It is highly recommended that applicants check with their broker to ensure ample time is allotted for review and approval process. No hard-copy applications will be accepted by any local board/association. For details on the changes visit coe.njrealtor.com . The 2021 award levels are: Platinum: $20 million and 30 units minimum, or 125 units Gold: $12 million and 25 units minimum, or 90 units Silver: $6.5 million and 20 units minimum, or 70 units Bronze: $2.5 million and 15 units minimum, or 30 units 2021 Important Dates Realtors® Political Action Unit Deadline: October 1 – A minimum contribution of $100 to RPAC earns one credit towards the NJ Realtors® Circle of Excellence Sales Award®. Contribute $100 to RPAC Now 2021 Application Deadline: January 10, 2022, at 5 p.m. ET

New Jersey Realtors® has developed a new form, Buyers' Waiver of Inspection and/or Appraisal , to protect members against claims resulting from a buyer's decision to waive an inspection. These include but not limited to any claim regarding any condition of the property an inspection may have revealed, and the value of the property an appraisal may have provided. The inspection and appraisal contingencies are used to protect home buyers in a transaction. This form is not mandatory but recommended, should the buyer decide to waive any contingencies.