U.S. existing-home sales unexpectedly slipped 1.0% month-over-month and 3.5% year-over-year to a seasonally adjusted annual rate of 3.84 million, the lowest level in more than a decade, according to the National Association of REALTORS® (NAR). Prospective buyers have pulled back in recent months, despite lower mortgage rates and more home choices compared to the same time last year.

• Single Family Closed Sales were up 6.9 percent to 1,516.
• Townhouse-Condo Closed Sales were down 4.3 percent to 403.
• Adult Communities Closed Sales were up 5.9 percent to 54.

When buying or selling a home, you’ll encounter different types of professional relationships—agency and non-agency—between buyers, sellers, and real estate professionals. These relationships are defined by state law and vary depending on where you live. Here’s what you need to know:

What Does It Mean for a Real Estate Professional to Be My "Agent"?

A licensed real estate professional acts as your agent when you hire them to represent you in buying or selling a home. This relationship creates specific responsibilities and duties:

• Seller’s Agent: A seller’s agent works on behalf of the seller to achieve the best price and terms. Sellers typically formalize this relationship through a listing agreement. The agent has fiduciary duties to the seller, meaning they must act in the seller’s best interests.
• Buyer’s Agent: A buyer’s agent represents the buyer’s best interests throughout the home-buying process. Often, buyers sign a written agreement outlining the terms of this relationship before touring homes.

What Types of Agency Relationships Are There?

Here are some of the most common agency arrangements:

Social media is a fantastic way to connect with clients and promote your real estate services, but as a Realtor®, you must follow important guidelines. Here’s a simple breakdown of the rules you need to know to stay compliant with New Jersey Real Estate Commission (NJREC) regulations and the National Association of Realtors® (NAR) Code of Ethics.

1. Include Your Brokerage Information

1. Always include your brokerage’s official name in every post.

2. The brokerage name must be larger or more prominent than your name.

2. Identify Your Role Clearly

1. State your professional title (e.g., Salesperson, Broker-Salesperson, Referral Agent).

2. Referral agents must indicate their role and cannot imply they handle transactions.