NCJAR News
As we approach the final quarter of the year, it's crucial for all our members to stay informed about the important deadlines related to the Realtors® Political Action Committee (RPAC) for 2024. Participation in RPAC not only supports the advocacy efforts that protect our profession but also helps members earn recognition through various award programs.
Here are the key dates to keep in mind:
OCTOBER 7, 2024: 2024 NJ Realtors® Circle of Excellence Sales Award® Unit Deadline A minimum contribution of $100 to RPAC earns one unit towards NJ Realtors® Circle of Excellence Sales Award®. Local boards/associations must receive the contribution by the close of business on Oct. 7, 2024 to be eligible for the unit.
As we approach the August 17 implementation of the National Association of Realtors® (NAR) practice changes, we want to ensure you're prepared and informed about the necessary actions to protect your organization from claims related to broker commissions. Here are some crucial reminders and updates:
Key Actions Required by August 17
1. Implementation of Practice Changes:
- We recommend all Multiple Listing Services (MLSs) implement the practice changes by August 17. REALTOR® MLSs (those owned exclusively by one or more REALTOR® Member Boards) must adhere to this date to remain compliant with NAR policy.
All CE MUST be completed by APRIL 30, 2025 to avoid the fine imposed by the NJREC.
The New Jersey Real Estate Commission (NJREC) has specific Continuing Education (CE) requirements for all licensees during the licensing period from July 1, 2023, to June 30, 2025. Here's everything you need to know:
Total CE Hours Required
All licensees MUST complete a total of 12 credit hours of Continuing Education (CE) within this period. However, if you became a salesperson licensee after July 1, 2024, you are exempt from CE requirements for this cycle. You will start your CE in the next cycle.
Breakdown of CE Requirements
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Fair Housing and New Jersey Law Against Discrimination: 1 Hour
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Ethics: 2 Hours
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Core Topics: 3 Hours
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Mix or Electives: 6 Hours
Key Points to Remember
The Real Estate Consumer Protection Enhancement Act (CPEA) went into effect on August 1, 2024. This new law includes several important provisions that you need to be aware of, such as mandatory seller's property condition disclosure statements, the introduction of designated agency, required brokerage services agreements, open house signage requirements, and new continuing education (CE) requirements. Please take the time to review the following links and do not hesitate to contact us with any questions or concerns.
Videos to Watch
2024 Broker Briefing Panel Discussion
Prepare for NJ Licensing Law Changes
Education
August 6 (9:30am-12:30pm) Virtual Understanding Agency & Disclosure
August 14 & 15 (9:00am-4:00pm) FREE ABR Two Day Course
August 19 (9:30am-12:30pm) Virtual Understanding Agency & Disclosure
Self-Paced AAA: All About Agency (Core)
Updated Forms
