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Real Estate Documents

Fri, 16 Aug 2024 15:47:41 GMT

Online Licensing Services

Fri, 18 Nov 2022 21:53:19 GMT

Lead Paint Insp by Town

Fri, 29 Jul 2022 13:19:34 GMT

New Regulations on Lead-Based Paint Guide in Rental Dwellings

Thu, 28 Jul 2022 23:42:34 GMT

Circle of Excellence 2023

Tue, 14 Dec 2021 19:34:57 GMT

APPLICATION RULES & REQUIREMENTS

1. Applicant must be a NJ REALTORS®’ REALTOR® or REALTOR-ASSOCIATE® member in good standing for the 2021 year on December 31, 2021. Additionally, applicant must be an Active or Provisional, REALTOR® or REALTOR-ASSOCIATE® during the application and verification period.

2. This is an individual award, not a team award. If two or more agents have shared a transaction where each agent contributed toward the sale, regardless of the precise division of labor or commission paid, the unit and dollar value must be divided by the number of agents sharing the transaction (1/4, 1/3, 1/2). Each member of a team must submit an individual application, but they must all be submitted together for review. Full documentation is required for all team transactions and must be attached to each individual application showing the individual share of the unit and dollar value.

3. Verification materials must be submitted for all transactions and Industry units claimed on an application, unless unit is imported to the application through an NJ REALTORS® approved data source and no modifications to the imported data occurs.

4. Referrals may only be counted by the person concluding the sale or listing, not the referring agent.

5. To earn a listing unit for non-MLS transactions—government-owned HUD, VA, new homes, FSBOs— a signed, valid listing agreement must have been obtained for each individual property. A blanket listing on a subdivision tract is not sufficient to receive a listing or sales unit on each home subsequently developed within the tract unless lot, block, or unit number is included in the listing agreement. Each home built must have a separate sales contract in order to qualify for a sales unit.

6. Garage rental/park/boat slip/storage space cannot be taken for units or dollar value.

7. Commercial property is valued the same as residential.

8. A transaction may not be accepted unless the compensation for each transaction closed is paid through the applicant’s brokerage at the time of the respective sale. The purchase or sale of your own home must also meet these criteria. A valid listing agreement, which includes the protection period, must have been in place to count for a listing unit.

9. Out-of-state transactions are eligible for a unit if the sale and/or listing is contained within a state contiguous to New Jersey—Delaware, Pennsylvania and New York.

10. If an applicant was affiliated with more than one firm during 2021, all transactions from the year may be counted, provided the current broker signs off on all the transactions.

11. If an applicant was affiliated with more than one firm during 2021, all transactions from the year may be counted, provided the current broker signs off on all the transactions.

12. Rentals:

Long-term rental: one year or more; Short-term rental: less than one year
Dollar & Value Unit: Long-term rentals are counted the same as sales—one unit for for rental listing, one unit for rental lease; two units for lease of your own listing. Dollar value is the gross value of the lease ($1,000/month at 12 months=$12,000)
Strictly Unit Method: 5 long-term rentals count for 1 COE unit. 20 short-term rentals count for 1 COE unit.
Leases must close or, if not in the MLS, be executed in the 2021 calendar year in order to count for credit. Leases of one year or more are counted for the entire term of the lease.
*For the 2021 application, leases that closed in 2020, but commenced in 2021 may be counted, so long as credit was not claimed on the 2020 application.
All rentals claimed must have commenced and no commissions may have been returned to count for credit.

13. If there is incorrect or unclear information in the MLS, applicants may submit additional documentation and, if possible, a letter from their broker verifying that respective transaction.

14. Verification documentation must be uploaded to the online application system. All local committees must keep detailed notes of communication with applicants who are asked to provide additional documentation, complete the NJ REALTORS® Standard Verification Cover Sheet, and contact the agent and broker/manager via email and a courtesy call. Applicants will have three business days from receipt of notification to supply any requested additional documentation to the verification committee or the application can be rejected or the level may be changed.

News & Events NCJAR - Multiple Offers

Thu, 18 Nov 2021 23:36:50 GMT

MLS Rules and Regulations

Thu, 02 Sep 2021 17:06:32 GMT

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

Changes: 2021 New Jersey Realtors® Circle of Excellence Sales Award

Thu, 19 Aug 2021 22:24:12 GMT

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® Buyers' Waiver of Inspection and/or Appraisal

Thu, 19 Aug 2021 22:17:19 GMT

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.

Goals Setting Templates

Tue, 29 Dec 2020 18:18:45 GMT

Monthly Market Information

Tue, 09 Jun 2020 15:46:51 GMT

How to Sound Smart on a Listing Appointment

Tue, 09 Jun 2020 15:45:31 GMT

KW Cares

Sun, 07 Jun 2020 15:48:58 GMT

Policy and Guidelines Manual

Sat, 06 Jun 2020 15:49:58 GMT

Credit Check

Fri, 05 Jun 2020 15:50:22 GMT

Rental Applicant Instructions

STEP 1.

Send prospective tenant this OFFICE SPECIFIC link below and ask them to notify you once complete.

NOTE – Some email providers may disable part or all of the link included in this email. Please copy and paste the application link URL into your browser if you experience an issue.

Click here to apply online:

https://secure2.ntnonline.com/securelease/default.cfm?propcode=KWS4245&unit=12227

(If any applicants have questions about the online application, please direct them to NTN Client Services 800-422-8299 xt.0)

STEP 2.

Once notification has been received, please complete the attached request form and send to NTN per the instructions on the form attached and the report will be sent to you.

Agents can call NTN with questions – 800-422-8299.

Lisa Hager

National Tenant Network

T: 800.422.8299

F: 856.513.4042

E: lisa.hager@ntnnj.com

W: www.ntnonline.com

HUD Paperwork

Thu, 04 Jun 2020 15:50:54 GMT

The NAID number for HUD is: BLLINE1740

You have to register with HUD before you can make an offer.

Bidding Instructions for HUD properties Bids are submitted online through

HUDhomestore.com . Your Broker needs to be registered with HUD for you to submit a bid, and you will need their NAID number You should register yourself as a bidder prior to submitting your bid. Pull up the property by state and address and click submit bid at the bottom of the screen If you win the bid, you will be notified with next step information. HUD will send the contract

MLS Information

Wed, 03 Jun 2020 15:51:33 GMT

KWSR Exclusive Listings

Tue, 02 Jun 2020 15:52:25 GMT

Command Guides

Mon, 01 Jun 2020 15:53:07 GMT