March 2, 2022

Here's What You Need to Know This Week


Top Story of the Week

Revised Contract of Sale and New Form

NJ Realtors® updated its Contract of Sale, form 118, to reflect legislation Gov. Murphy signed into law regarding excess rates and charges for title insurance. In addition, it makes an agreement to use services of title or settlement company subject to attorney review.

There is also a new form in NJ Realtors® Forms Library, form 125, Lease Rider Regarding Steam Radiator Notice. The form was developed after the governor signed legislation that requires residential landlords to install covers on steam radiators at the written request of tenants.


Tune In

President Robert Speaks on the Market with 101.5

2022 NJ Realtors® President Robert White is joining 101.5 on March 3 at 7 p.m. for a special webinar to discuss New Jersey's housing market. Prices are high, inventory is tight, and interest rates are on the rise—tune in to get President Robert's take on the current market and what's on the horizon for the industry.


Research and Share

The Results Are In—Quarterly Member Poll

According to data collected by NJ Realtors® and Real Strategies, members have a more positive outlook regarding current economic conditions and the housing market with 72% of members rating economic conditions as excellent or good.

Members are also using words such as "crazy," "insane," and "fire" to describe the current housing market and 94% of members say that prices are higher than last April.

Click here for the full results.

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State of the State

Three Ways to Stay Involved and Advocate for the Industry

  1. Attend your town's municipal meetings to stay up to date on what's happening in your town, ensure possible ordinances don't impact the real estate industry, and more.
  2. Subscribe to your elected official's newsletters or follow them on social media.
  3. Contact NJ Realtors® as early as possible if there is a local issue that arises.

Watch the January Skinny Video

NJ Realtors® Staff Picks of the Week

We're making lamb and white bean stew, drinking Woods and Waters IPA, seeing Moulin Rouge on Broadway, and drinking toffee style cold brew from Rook Coffee.