NCJAR News
As the local elections on November 5, 2024, approach, NCJAR is reaching out to identify Realtors® within our community who are serving in any political office. This includes positions such as town or city council, mayor, school board, zoning official, and more.
If you are a Realtor® holding any of these positions, we have an exciting opportunity for you. NCJAR invites you to participate in an interview process that could help secure Political Action Committee (PAC) funds for your campaign. These funds can be crucial in supporting your efforts and making a significant impact in your community.
How Does It Work?
The North Central Jersey Association of Realtors® can request up to $1,000 per candidate in PAC-share funds. The allocation of these funds is determined based on the outcomes of interviews or questionnaires. It is important to note that, in the spirit of fairness and transparency, these interviews or questionnaires must be extended to all political parties participating in the same election.
Since its inception in 2021, North Central Jersey Association of Realtors Scholarship Fund has been a beacon of support for the families of our Realtor members, children, grandchildren, nieces, nephews. Each year, the fund awards five $1,000 scholarships to deserving candidates, making a significant impact on their educational journeys. The scholarship program is a testament to NCJAR's commitment to giving back to the community and fostering the growth of the next generation.
(Posted 08/15/2024)
We realize that everyone is busy navigating the practice changes that have been implemented to address New Jersey's recent legislation and the NAR settlement agreement's impact on REALTORS. While it will likely take some time for everyone to "get up to speed" on all of these practice changes, we have been evaluating what we might be able to do to make this process easier for our members. One thing we have noticed is that there is ongoing confusion amongst some of our members regarding the distinction between offers of compensation and sellers' concessions. In order to address this issue we are taking the following two steps. The only sellers' concession field that will be displayed in the MLS system is the optional Y/N field indicating whether the sellers are willing to consider requests for concessions in a buyers' offer. For now, the type of concessions and the concession value fields will be suppressed.
To comply with the National Association of Realtors®️ proposed settlement agreement, starting on August 17, licensees working with sellers and buyers must clearly disclose that broker commissions are not set by law and are entirely negotiable.
This disclosure must be prominently included in brokerage service agreements, such as listing agreements and written buyer agreements. Additionally, the same conspicuous statement must appear on all pre-closing disclosure forms related to broker representation services. If a form is government-specified and does not include the statement, it must be accompanied by a document that does.
The following pre-closing disclosure forms must include the conspicuous statement:
- Consumer Information Statement
- Informed Consent to Disclosed Dual Agency
- Informed Consent to Designated Agency
