NCJAR News
If you’ve decided to work with a real estate professional to sell your home, one of the first steps is negotiating and signing a listing agreement. This contract outlines the terms of your relationship with the agent, including how they will represent you and market your property. Here's what you need to know about this important document and the choices you have when working with a real estate agent.
What is a Listing Agreement?
A listing agreement is a contract between you and your real estate agent that allows them to market your property and represent you in the home-selling process. This agreement also establishes the sales price for your home, outlines the services your agent will provide, and details how they will be compensated. Keep in mind, agent compensation is fully negotiable and not set by law.
GSMLS System Colors
(posted 10/08/2024)
Just to make sure you don't think you have reached the wrong website, we are alerting you to a change in the color scheme used on the GSMLS member site. Starting tomorrow (10/9), to improve the color contrast of our system we are replacing the red/salmon color currently used for buttons and some text with blue colors that are already in use elsewhere on our site.
On Monday, October 7th, members of North Central Jersey Association of Realtors® (NCJAR) gathered for their Annual Membership Meeting, an event marked by insightful discussions and valuable information for navigating the evolving real estate landscape.
Legal Insights from Jeffrey Dollinger
The meeting commenced with a presentation from board counsel Jeffrey Dollinger, who provided clarity on the recent National Association of Realtors® (NAR) settlement. His discussion centered on the implications of this settlement for daily operations and compliance, emphasizing the importance of understanding the legal landscape ahead. Dollinger’s insights were particularly timely, equipping members with the knowledge necessary to maintain compliance while continuing to effectively serve their clients.
Signage Required at Open Houses
Listing agents will be required to explicitly disclose who they represent at open houses in the form of signage either at the entrance or sign-in sheet for all attendees to see.
The sign must state that the agent represents the seller only and has no relationship with the prospective buyer unless:
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The buyer does not have an exclusive buyer agency agreement with another firm, or
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The buyer agrees to the seller's agent becoming a disclosed dual agent or designated agent.
