Weekly Newsletter

Tuesday, July 30, 2024

ASSOCIATION NEWS

HURRY, THERE'S STILL TIME TO REGISTER!

TOMORROW! FOOD TRUCKS, LIVE MUSIC, AND MORE!

An Evening Of Fun You Won't Want To Miss!

RPAC & YPN Present: Summer Bash!

Celebrate Summer With Friends, Food Trucks, Music by JP Nicks, Cornhole, Hula Hoops, & Limbo Tournaments & More!

Join us in the sun this summer! Don't miss the Summer Bash at GBR headquarters for an afternoon of fun! Food trucks, cornhole tournaments, live music, games, RPAC jail bail investments, sweet treats, and more.

NEW! ONLY AT SUMMER BASH!

RPAC REALTOR® Jail!

Bring Your Bail Money! Bust Your Friends And Your Brokers Out From Behind Bars For A $50 Investment (Call On Colleagues To Combine Tickets For Bail!)

Not So Fast...

Colleagues, Just When They Think They're Out, Put Them Back In For $20 More!

Contact Liliana Castro-Travers For Details:

Liliana@GreaterBergenRealtors.Com

201-244-700 Ext. 408

July 31, 2024

4:00PM - 7:00PM

Ticket Price: $55 RPAC Investment

(Counts Towards $100 Minimum For Circle of Excellence Point

And Major Investment Levels!)

DON'T DELAY, APPLY TODAY!

Applications For The GBR Good Neighbor Award Are Open!

Know Someone Who With A Big Heart & Is Active In Their Community? Apply On Their Behalf Today! Are You A Good Neighbor? It Could Be YOU!

Deadline Is Thursday, August 8, 2024!

Greater Bergen REALTORS® Good Neighbor Award will be presented to a REALTOR® who has made extraordinary commitments to improving the quality of life in their local and/or global community through volunteer community service.

Join the distinguished group of recipients making a difference in their communities.

Members like 2021 recipient Karen DeMarco, The Food Brigade,

2022 recipient Zachary Lisella, The Allendale/Saddle River Rotary Foundation,

and 2023 recipient Debra Norman, The Junior League of Bergen County.

The 2024 Greater Bergen REALTORS® Good Neighbor Award recipient may be you!

A Donation of $1,000 will be made to the community service organization named

on the entry form of the winner.

Apply Today!

Apply By Thursday, August 8, 2024!

APPLY TODAY!

EXCLUSIVE MEMBER BENEFIT!

FREE ABR® DESIGNATION FOR MEMBERS!

You Can Earn The Accredited Buyers Representative Designation In Just Two Days! Join Us August 6 & 7, 2024!

The Accredited Buyer's Representative (ABR®) Designation is for real estate buyer's agents who focus on working directly with buyer-clients at every stage of the home-buying process. Gain valuable real estate education that elevates your skills and knowledge in the eyes of home buyers. This is a 2-day designation course - August 6 & 7, 2024.

August 6 & 7, 2024

HYBRID: In-Peron or Virtual

Earn NJ 12 Ethics Credits/NY 15 Hours

Co-Instructors: Rhoda Moss-Latimer, Alireza Memar

FREE FOR MEMBERS!

FREE For Members! Register Today!

The Professional Development Committee Presents

Lunch & Learn: You Have To Sign, WHAT?!

Buyers Agreement

A Lunch and Learn Event, FREE To Members!

REALTORS® will learn the importance of buyer’s consultation and how to ask and obtain the new NJ exclusive buyer’s agency agreement. They will be able to obtain an executed contract as well as react and reply to objections to signing the agreement by using theory and practice.

August 1, 2024

10:00AM - 12:00PM

In-Person Only

FREE For Members | $20 Non-members

NEW! FREE For Members!

Stay Informed & Stay Ahead On Recent Real Estate Changes!

"Let's Talk" Navigating Compliance Changes With Practical Solutions Post-NAR Lawsuit

This course provides an overview of the National Association of REALTORS® (NAR) lawsuit and its impact on the real estate industry, focusing on disclosure and compliance issues. We will cover key changes such as the removal of compensation offers from MLS and the requirement for written agreements for buyer representation. Learn how these changes will affect market practices and regulations, and discover strategies to ensure legal compliance, mitigate risks, and stay competitive in the evolving market.

August 22, 2024

11:30AM - 12:30PM

Hybrid

FREE For Members | $20 Non-members

HEALTH & WELLNESS

The Health, Wellness, Safety Council Book Club Is Back!

Looking for some fun? Find your perfect literary escape with the Health, Wellness, Safety Council Book Club!

Reading:

The Unthinkable: Who Survives When Disaster Strikes - And Why

By Amanda Ripley

Book Discussion Meeting:

Friday, September 20 (In-person or via Zoom)

Time: 10AM-12PM

GBR HIGHLIGHTS

GBR's REALTORS Care Foundation Raises Over $6,700 For Local Communities At Dining Out Jersey Foodie Expo!

GBR's charity organization, the REALTORS® Care Foundation (RCF) participated in the Dining Out Jersey Foodie Expo, at The Terrace at Biagio’s, where they raised over $6,7000 for local communities. The 2024 Foodie Expo was a full evening of gourmet food and elevated drinks from the chefs, mixologists, and restaurant owners of the best restaurants in northern New Jersey. The REALTORS® Care Foundation participated in the event by raising awareness of the organization’s mission that REALTORS® do more than sell houses within our local communities, they participate and support community initiatives through fundraising with a silent auction and a 50/50 raffle.

Since its inception in 2015, the RCF has awarded over $1,400,000.00 in grants to more than 71 local non-profit organizations providing food, clothing, shelter, education, and more to individuals, families, and children in need.

“Great communities that support small businesses, local restaurants, and non-profit organizations make great neighborhoods. REALTORS® play a huge role in helping neighborhoods succeed, bringing more people into communities where they can have better lives. The RCF’s participation in Dining Out Jersey Foodie Expo was an opportunity to remind our community that REALTORS® give back in so many ways,” states REALTORS® Care Foundation Trustee and Dining Out Jersey member, Linda Barba.

To view photos from the Dining Out Jersey Foodie Expo click HERE!

STATE NEWS

New Jersey REALTORS® Real Estate Consumer Protection Enhancement Act Law Resource Webpage

In early July, Governor Murphy signed Bill S3192/A4454, also known as the Real Estate Consumer Protection Enhancement Act, into law. The law, which goes into effect August 1, 2024, strengthens both consumer and real estate licensee protections.

New Jersey REALTORS® has provided a Real Estate Consumer Protection Enhancement Act Law resource webpage for all information you need to stay informed.

VISIT NEW LAW RESOURCE WEBPAGE

LAST DAY TO APPLY!

Women's Council Of REALTORS® New Jersey State 2025 New Jersey Officer Positions Available Through July 30th

Elections will be held on August 28, 2024.

Voting will be done via Zoom.

Candidates will address the members at this meeting of which the time will be announced at a later date.

Forms and information needed to apply. Please read all information carefully and follow instructions.

Application due date is July 30,2024 at 11:59 pm (no exceptions). Application must be emailed to NJSTATEWCR@gmail.com

For more information, click HERE.

DOWNLOAD APPLICATION HERE

NATIONAL NEWS

Diving Right In

It’s A Pivotal Moment In Real Estate, And National Association of REALTORS® President Kevin Sears Is Springing Into The Future With Unbridled Optimism

When Kevin Sears was competing in high-school and college diving events, one of his most challenging dives was the gainer, a tricky move in which the diver moves quickly toward the front of the board, takes a big bounce, and then rotates backwards from a forward-facing position. Successfully executing the gainer requires preparation and self-confidence. Those are two qualities Sears demonstrates in abundance as president of the National Association of REALTORS® (NAR). You might say he’s been preparing for the job since 1994, when he became a licensed real estate professional and a REALTOR® and began saying yes to volunteer roles. For Sears, a broker with Lamacchia Realty/Sears Real Estate in Springfield, Mass., each committee appointment was an opportunity to give back to a business he’d grown up around and loved from an early age.

Sears’ decades of active involvement lean heavily toward advocacy. At the national level, before joining the Leadership Team, Sears served 25 years as NAR’s Federal Political Coordinator to U.S. Rep. Richie Neal of the first district of Massachusetts. Twice, he chaired the REALTORS® Political Action Committee Trustees. And he was part of the presidential advisory group that reshaped NAR’s advocacy operations in 2010 to ensure they remained effective after the Citizens United Supreme Court decision.

HURRY, THERE'S STILL TIME TO REGISTER!

Upcoming NAR Webinar: Communicating Change: Preparing Members for the Practice Changes

Date: Wednesday, July 31

Start time: 10 a.m. Pacific / 11 a.m. Mountain / 12 p.m. Central / 1 p.m. Eastern

Description: Join members of NAR’s Legal Affairs team for up-to-date information regarding how the proposed class action settlement and the practice changes may impact your association and your members, including:

Timely updates on the settlement process.
What you can expect when the practice changes take effect.
Tips for answering member and consumer questions when the class notice is sent.
Tools and resources you can leverage to effectively communicate accurate information to your members.

GLOBAL PERSPECTIVES

Foreign Home Buyers Recede From U.S. Market As

Prices Soar

International home buyers are backing away from the U.S. housing market amid high home prices and low inventory, according to the National Association of REALTORS®’ new report, 2024 International Transactions in U.S. Residential Real Estate. Foreign buyers purchased 36% fewer homes between April 2023 and March 2024 compared to the prior 12-month period, marking the lowest sales to foreign buyers since NAR first began tracking such data in 2009.

“Historically, low housing inventory and escalating prices remain significant factors in constraining home sales for American and international buyers alike,” says NAR Chief Economist Lawrence Yun. "Thirty-six percent of real estate professionals surveyed say the top reason why their international clients decided not to purchase U.S. property was because they could not find a home to buy; about a third also expressed concerns over higher costs.

TIPS FOR CONSUMERS/REALTORS®

5 Market Opportunities As Home Sales Eye Turnaround

Although limited housing inventory, rising home prices and high mortgage rates have pushed existing-home sales to a 30-year low, a market turnaround is coming in 2025, Lawrence Yun, chief economist for the National Association of REALTORS® (NAR), predicted during NAR’s Real Estate Forecast Summit on Monday. He said mortgage rates will likely fall in the coming months, and inventory will likely pick up.

Other economists at the event argued that the housing market isn’t slow per se given pent-up homebuyer demand. “Competition is fierce, not just for home buyers trying to find a home in this limited inventory environment but also for REALTORS® trying diligently to find even a listing to work with a seller or a buyer,” said Jessica Lautz, NAR’s deputy chief economist.

AFFILIATE SPOTLIGHT

Meet Affiliate Partner, Tiffany Acosta!

Tiffany Acosta is the Chief Executive Officer and Lead Designer of Grayscale Homes LLC.

More than just a name, Grayscale Homes embodies the essence of sophistication in its purest form. Inspired by the timeless beauty of grayscale art, where shades of white and black create a symphony of elegance, we translate this philosophy into stunning interior design for your modern haven.

Founder, Tiffany Acosta, discovered her passion for this aesthetic during a college course, captivated by the power of minimalism and its ability to evoke character and depth. This passion transcended the canvas, igniting a desire to create spaces that resonate with the same simplicity and grace.

"Grayscale Homes: Where Simplicity Meets Modern Luxury"