NCJAR News
Jeff Jones, the 2024 NCJAR President-Elect, shares exciting updates, including his gratitude for the opportunity to serve as the 2025 President. He highlights the release of a new consumer guide on listing agreements, emphasizes the importance of adhering to agency guidelines for open house signage, and announces a free accredited buyer representation course on October 28-29. He also reminds members to complete their 12 Continuing Education Credits by April 30, 2025, underscoring the importance of professionalism and continuous learning in real estate.
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The housing market saw a slight dip in existing-home sales in September 2024, as three out of four major U.S. regions experienced declines, according to the National Association of REALTORS® (NAR). Total sales, which include single-family homes, townhomes, condominiums, and co-ops, fell 1.0% from August to a seasonally adjusted annual rate of 3.84 million, marking a 3.5% decrease year-over-year.
While this overall decline continues the trend of a slower market, there is some positive news for both REALTORS® and their clients. NAR Chief Economist Lawrence Yun highlighted that factors like increased inventory, lower mortgage rates compared to last year, and a growing job market may signal potential improvement ahead.
Inventory Boost Brings Hope for Buyers
The total housing inventory at the end of September reached 1.39 million units, a 1.5% increase from August and a significant 23.0% jump from one year ago. This uptick in available homes translates to more options for buyers, a trend that can help alleviate some pressure in this competitive market. The unsold inventory now sits at a 4.3-month supply at the current sales pace, compared to just 3.4 months in September 2023.
Please note that the NCJAR Wayne Office will be OPEN on the following days:
- Tuesday, October 22
- Thursday, October 24
- Friday, October 25
The office will be CLOSED on Monday, October 21st and Wednesday, October 23rd.
Thank you for your understanding!
For questions, please email us at
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.
