January 20, 2021
Member News

Coming Soon! A New Member Benefit CORE has partnered with CREXi to bring a dynamic commercial property data exchange that includes Mercer, Hunterdon, Somerset-area listings as well as listings nationwide to our commercial real estate members. CORE members will also receive a 35 percent discount on CREXi Pro.
Basic access to CREXi's platform is free and allows you to manage your entire transaction process, from listing to closing, in one place by combining an active marketplace that hosts more than $1 trillion in property value, with an array of tools designed to make listing commercial property and land easy. Watch CORE's e-communications for more information about this new member benefit coming soon!

Did you Know You Can Track Your Continuing Education (CE) Credits? Log into the PSI Online CE Tracking System and track all your CE Credits online. Issues logging in or viewing your credits? Contact PSI directly here.

Dues Reminder 2021 Realtor dues renewals were due by December 31, 2020, and a late fee of $99 will be assessed for dues not paid by January 31, 2021. To pay your dues now, click here. Instructions on how to pay dues online can be found here. For the full timeline, click here. Please note, your username is your NRDS number and your default password is your last name - all lower case. You do not need to reset your password.  

Nearby PA Realtor Associations Merge As of January 1, the Montgomery County Association of Realtors and the Suburban West Realtors Association in Pennsylvania merged to become the new Tri-County Suburban Realtors. The Association’s President and CEO is Anne Marie Matteo.
Bright MLS

Weekly Market Trends Report for the Week Ending January 17, 2021 is Now Available!
For the first week of 2021, new closed sales and purchase contracts increased compared to the same week in 2020. However, new listing activity was slightly weaker:
  • The week's total new listing volume was lower from a year ago at 96.7%.
  • Closing levels paced at 135.4% from the previous week in 2020
  • Showing volume ran at 103.…Read more.
3 Things to Do This Week to Prepare for the New Bright The new website will launch Tuesday, February 2. Log in and become familiar with this new space now. 
  • Log In using your current Bright credentials at new.BrightMLS.com
  • Explore the new Workspace. Use this handout to help you navigate the new Workspace.
  • Sign up for training. Register to attend a webinar or get live help. Wednesday, January 27, from 10:00 - 10:30 am. Register for training here.

Zillow Discontinues Syndication, Transitions to MLS-Sourced IDX As of January 13, Zillow is now operating as a brokerage in all 50 states and receiving listings through IDX. Syndication is the option to send listings to third-party publishers like realtor.com and Homes.com. Syndication through Bright is based on the principle of 100% broker’s choice. Read more.

February 2021 - NAR's Center for Realtor Financial Wellness: Tax Summit Hear from experts and receive tips on how to improve your personal wealth by spotting opportunities in your tax return; what to do if the IRS comes knocking, and more. Space is limited. Register now to attend this four-part series event:
  • Real Estate Agents Tax Guide 101 - Wednesday, February 3 at 2:00 pm
  • What to Do If You’ve Got IRS Trouble - Wednesday, February 10 at 2:00 pm
  • Improve Personal Wealth by Spotting Opportunities in Your Tax Return - Wednesday, February 17 at 2:00 pm
  • A Deeper Dive into Several Real Estate Tax Topics - Wednesday, February 24 at 2:00 pm

Asian Real Estate Association of America (AREAA): Prospering Digitally in Luxury Real Estate Topics covered include:
  • How to leverage social media to build your luxury brand
  • How to generate and cultivate a clientele during a pandemic
  • Best practices to be more visible
>>>>>Wednesday, January 27, from 1:00 - 2:00 pm. Register here.
Commercial Real Estate

Society of Industrial Office Real Estate (SIOR): Commercial Broker Bootcamp SIOR courses provide training programs to learn the fundamentals of commercial real estate brokerage from seasoned practitioners. Kick-off 2021 by beefing up your "core" CRE fundamentals at the Q1 SIOR Broker Bootcamp. Register now to join us for a virtual class in February.
Business Tips

NAR: Earn More Business in 2021 with Five Strategies If you want to make more money this year, switch up your tactics for earning new business. Test new marketing ideas, seek out referral opportunities, and reach out to underserved markets. Learn new strategies from seasoned practitioners who have capitalized on emerging trends to elevate their productivity and business results. Read more.
RISMedia: Scripts to Handle the Question: What Work Should I Do to the Home Before Selling? Agents often lose listings when going through the pre-listing tour with a seller. Even if the seller has asked for feedback and recommendations, they can become either overwhelmed or offended when the agent tells them the truth. Read more.

New Jersey

NJ.gov: Who is Eligible for Vaccination in NJ? Who is Included in the Vaccination Phases? For more information and to pre-register for a vaccine, go here.

Greenbaum, Rowe, Smith & Davis: Recent Federal Court Ruling Provides Insight Into How WARN Act May Apply to COVID-Related Workforce Cuts The Worker Adjustment and Retraining Notification (WARN) Act is a federal law that requires employers to provide advance notice to their workforce in the event of a qualified plant closing or mass layoff. Read more.

Greenbaum, Rowe, Smith & Davis: An Overview of the Corporate Transparency Act (CTA) The CTA, was enacted into law on January 1, with the legislative intent to combat money laundering through enhanced reporting requirements to the US Department of Treasury's Financial Crimes Enforcement Network (FinCEN). Read more.

NAR: Federal Housing Finance Agency (FHFA) Extends Relaxed Pandemic Lending Standards FHFA will continue allowing alternative appraisal and employment verification until February 28 to ease settlement delays. Read more.

HousingWire: How President Biden’s “American Rescue Plan” Impacts Housing Initiatives include a forbearance and eviction extension, plus billions in rental assistance. Read more.

NAR: Consumers Expect Even Hotter 2021 Market “Most homeowners are well aware that their home value has increased and they’ve become wealthier,” says Redfin’s chief economist. Read more.

NAR: Ski Town Home Buying Is Gaining Against Beachside Getaways Second-home snowbird buyers have tended to favor warmer, sunnier climates. But interest in ski towns is surging, a new report from realtor.com® finds. Read more.