NCJAR News
In a remarkable evening that underscored the spirit of unity and achievement, NCJAR’s Annual Circle of Excellence Sales Award Gala, held on March 21, 2024, at the Venetian in Garfield, NJ, saw an unprecedented gathering of over 750 Realtors® and Industry Partners. This grand event celebrated the exceptional successes and dedication, marking a stellar year of accomplishments.
This year's gala was a vibrant testament of your dedication to your profession. We encourage you to take a moment to browse the digital program, where you'll find your peers published and celebrated for their outstanding contributions. It's an opportunity to appreciate the depth of talent and commitment within our industry.
The program also includes a heartfelt message from NCJAR President, Chris Coccia, which underscores our collective achievements and the vision for our future. Additionally, our featured industry affiliates are highlighted, showcasing the strong partnerships that support our success.
Join us for a game-changing session with Darryl Davis on Thursday, March 21st at 9:30AM-11:00AM that will dive deep into the aftermath of the landmark Sitzer/Burnett case and the NAR's monumental $418 million settlement.
What's in Store:
- Insightful analysis on the settlement's impact on the real estate industry.
- Practical strategies to adapt to changes and secure buyer agency agreements.
- Expert tips on conveying market conditions and handling buyer objections effectively.
- Plus, how to make your buyer's offer stand out!
TO ALL OUR MEMBERS:
NAR has proposed a settlement in the Sitzer-Burnett lawsuit.
What this proposed settlement means is:
Release of liability: The agreement would release NAR, and over one million NAR members, all state/territorial and local Realtor associations, all MLSs wholly owned by Realtor Associations, and Brokerages with an NAR member as principal that had a residential transaction volume in 2022 of $2 billion or below from liability for the types of claims brought in these cases on behalf of home sellers related to broker commissions.
- Compensation offers moved off the MLS: NAR has agreed to put in place a new rule prohibiting offers of compensation on the MLS.Offers of compensation could continue to be an option consumers can pursue off of the MLS through negotiation and consultation with real estate professionals. And Sellers can offer buyer concessions on an MLS (for example – concessions for buyer closing costs).
- Written agreements for MLS participants acting for buyers: In this settlement NAR has agreed to require MLS participants working with buyers to enter into written representation agreements with their buyers. This change will go into effect in mid-July 2024.
- NAR agreed to pay $418 M over approximately 4 years. NAR member dues will not change.
- NAR has long maintained – and continues to believe that cooperative compensation and NAR’s current policies are good things that benefit buyer and sellers. They promote access to property ownership, particularly for lower-and middle-income buyers who can have a difficult-enough time saving for a down payment. With this settlement, NAR is confident its members can still achieve all those goals.
Join us for an unforgettable evening at The Venetian in Garfield, NJ, as we honor the extraordinary achievements of the NCJAR's 2023 NJR® Circle of Excellence Sales Award® recipients. It's not just an award ceremony; it's a celebration of success, dedication, and a stellar year in Real Estate!
Date: Thursday, March 21, 2024
Time: 5:30 PM - 9:30 PM
Venue: The Venetian, Garfield, NJ
Get ready for an evening filled with:
