Here is the Answer to Last Week's Poll Question on Commissions

Last week, we asked; If both agents work for the same broker and a seller has only agreed to pay a commission to the listing agent, the buyer’s agent can collect a commission from the buyer with a Buyer’s Agency Agreement. True or false?

The answer is false according to N.J.A.C. 11:5-7.1 Prohibition against licensees receiving dual compensation for dual representation in a sale or rental transaction.

Real Estate licensees are prohibited from receiving compensation from both the seller/buyer/landlord/tenant for representing both seller/buyer/landlord/tenant in the same real estate transaction. This prohibition applies even when the dual agency is disclosed by the licensee to both parties.

Inform Your Clients on Market Activity with This Local Info

Check out June's Local Market QuickStats packed with easy to read statistics.

Ocean County saw an uptick of single family home inventory in June. Burlington County attached home closings increased both year over year and month over month for the second month in a row while new listings in Camden County for single family homes increased over May 2022.

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Download QuickStats or full reports for print and email

View June Existing-Home Sales from NAR

Learn About These Changes Taking Place Where You Do Business

The July issue of the NEXUS Municipal Monitor is available. Learn about:

• Former Runnemede Mayor and current NEXUS REALTOR® member sworn in as New Camden County Commissioner.

• NEXUS' work with Toms River officials regarding the Municipal Certificate of Continued Use and Occupancy requirements. How can you voice your concerns?

Plus more updates provided by the NEXUS Legislative Committee.

Circle of Excellence Sales Award Applications Open on August 1

Apply here  by January 9th and take note of changes this year:

• You can now claim any NAR-recognized certifications for an industry unit, in addition to your designations.

• You may claim options, renewals, and extensions for both commercial and residential rentals as long as you were paid a subsequent commission specifically for the occurrence.

Click here for more information on these changes and to apply.

Been a NJ REALTOR® for 25 Years? Apply for Quarter Century Club

Recipients of the 2022 Quarter Century Club will be honored with:

• Commemorative Quarter Century Club Pin and Certificate
• Special recognition at the 2022 Triple Play Realtor® Convention and Trade Expo
• Use of the Quarter Century Club logo on your business cards and website.
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Click here for the qualifications and application and email your application to fdemarco@nexusaor.com by the due date of September 16.

Competitiveness, Market Craziness Didn't Stop REALTORS® in 2021

Nor did it hinder anyone from joining the real estate field. Learn the highlights of NAR's Member Profile including: 

• The typical REALTOR® has eight years of experience.

• 79% of members say they are certain they will remain in the business for at least two more years.

• The share of women in the industry jumped from 57% in 2010 to 67% in 2021.

Where Are Sellers Lowering Prices?

Bright Chief Economist Dr. Lisa Sturtevant explains how home prices in the Mid-Atlantic area are faring.

Learn more

Upcoming Training Opportunities with Bright

8/18/22 | 9:30-10:30 am - Tools to Get Started with Bright MLS Live Webinar

8/18/22 | 11:00 am-12:00 pm-  Bright MLS Search Essentials Live Webinar

See the full list here

Bright's Weekly Market Update for the week ending July 31 is now available here.

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