DESIGNATED
®
REALTOR ISSUE 3: june 2017
NJREALTOR.COM
EVENTS AND DEADLINES June 6
June 13
June 7 - 9
June 30
June 9
July 4
Webinar: 10 a.m. RPR Mobile™ for Smartphones
Financial Literacy Series Monmouth University YPN Networking Event The Wine Loft, Long Branch
NJ Realtors® Board of Directors meeting Pines Manor, Edison
Final deadline to complete 2017 CE requirement njrealtorsace.com NJ Realtors® office closed Independence Day observed
LOOKING
AHEAD
September 22
November 1-6
September 29
December 4-7
Good Neighbor Award deadline njrealtor.com/awards
Deadline to invest $100 in RPAC for 2017 NJ Realtors® Circle of Excellence® Unit njrealtor.com/account
Realtors® Day in Trenton
M
ore than 150 Realtors® braved the gloomy weather on May 25 to attend the annual Realtors® Day in Trenton. Held at the historic Masonic Temple, just a short walk from the State House, the event afforded Realtors® from around the state the opportunity to hear from two leading gubernatorial candidates ahead of the June 6 primary. Democratic candidate, Ambassador Phil Murphy, spoke about the New Jersey middle class and the need to bring the magic New Jersey was once known for back to the state. Republican candidate. Assemblyman Jack Ciattarelli, concluded the program with a speech about property taxes, mortgage interest deductions, the state’s commuter infrastructure, and his plans for the Garden State. Following Realtors® Day in Trenton, all in attendance were invited to join the NJ Realtors® Leadership Team at the State House where the association received a Senate resolution to commemorate its centennial year. “It is with great pride that on behalf of all of us who sponsored this legislation that I say we are honored to have
NAR Annual Meetings and Expo Chicago, Ill. nar.realtor/convention Realtors® Triple Play Convention & Trade Expo Atlantic City realtorstripleplay.com
New Jersey Realtors® here today and honored that they are celebrating their 100 year celebration,” said Senator Jeff Van Drew, one of the resolution’s sponsors. “I wish them another 100 years of success.”
Exclusive for Realtors®
Financial Literacy Series June 7, 8 & 9
9:30 a.m. - 12:30 p.m. N
ew Jersey Realtors® will be hosting a financial literacy series at Monmouth University that has been tailored to fit the specific needs of real estate professionals. Covering topics including taxes, investments, and retirement, these courses are structured to be informative and applicable for Realtors® with varying levels of experience. From recent licensees to seasoned experts nearing retirement, each class will help Realtors® feel more comfortable and confident in pursuing whatever financial path lies ahead of them. “For the majority of Realtors® who work as independent contractors, the financial aspects of working in real estate, such as managing money and tracking expenses, is cumbersome and misunderstood,” explains Bob Oppenheimer, 2017 NJ Realtors® President. “To help address this, we set out to create a class that focuses solely on teaching Realtors® how to manage their money.”
June 7: The Basics This introductory level course is designed for Realtors® who would like additional education about financial planning. This class cover topics including personal budgeting, mortgage basics, pre-tax and take-home earnings, health care costs, and more. June 8: Insurances & Tax Planning The second course in this series will hone in on taxes for your personal situation, as well as real estate-related taxes, and tax planning for investments. This class will also focus on insurance coverage for all facets of your business and personal life. June 9: Advanced Investments The third level, the most advanced of the three, is focused on investment fundamentals. Topics to be covered include the power of compounding, stocks, bonds, alternative investments, commodities, annuities, planning for retirement and social security.
Learn more and register at njrealtor.com.
New Jersey Realtors® Young Professionals Network
Summer Networking Event FRIDAY, JUNE 9 1-3 p.m.
The Wine Loft Pier Village, Long Branch Following the conclusion of the NJ Realtors ® financial literacy series, enjoy lunch, drinks, and ocean views while networking with industry professionals! $15 for members $25 for non-members
TICKETS AVAILABLE AT NJREALTOR.COM/YPN
Broker Involvement Program T
ime and again it’s been proven that the Realtor® voice matters.
Through Calls for Action, meetings with legislators, and RPAC-backed candidates, Realtor® members have made a positive impact in their towns, states, and on the national level. In New Jersey, less than 20 percent of members continually take part in important Calls For Action. We know we can do better. There is no cost to join or participate in the Broker Involvement Program, and nothing needs to be downloaded. This turnkey program makes it easier than ever to automatically send companybranded calls for action directly to your agents. The more Realtors® involved in creating a unified voice, the more Congress will respond to our industry’s needs — and that’s where you come in. Through the Broker Involvement Program, broker-
owners are provided with an effective tool to encourage agents to take action on critical legislative issues affecting our industry. The program has proven to increase participation rates from agents while emphasizing your leadership role as a provider of important information. Nearly 40 percent of all responses on the Broker Calls for Action are from agents in the Broker Involvement Program.
You’re in Good
Company Currently,
529 brokers
in NJ are involved in the program.
To get started, sign up at realtoractioncenter.com. Within seven days of NAR receiving the enrollment form, NAR Political Programs staff will e-mail the broker to confirm participation by asking the broker to verify the numbers of agents in the office(s) and provide a company logo, if one exists. The brokerage’s logo on the Broker Call for Action e-mails helps agents recognize that the email is coming from you. These two pieces authorize the broker’s message to be sent to all of their agents. That’s it. You’re done! Following enrollment, whenever there is a federal Call for Action on these and other issues, NAR will send a personal message and the Call for Action to your agents directly on your behalf. If you have any questions or are unsure if your company is already enrolled, please contact Bruce Shapiro.
Government Affairs Update LEGISLATION WE’RE WATCHING O
ne of New Jersey Realtors® core values is protecting the real estate industry and private property owners throughout the state. Our government affairs department regularly monitors legislation being introduced and making its way through the State House. On any given session day, you may find staff from NJ Realtors® lobbying in Trenton on behalf of our more than 47,000 members. By expressing our support or opposition on industry-related bills and maintaining relationships with government officials, we are able to ensure the Realtor® voice is heard throughout Trenton. Here are a few pieces of legislations we are closely monitoring. LEAD PAINT In the aftermath of Flint, Michigan, various proposals aimed at addressing lead poisoning were put forward in New Jersey, including the requirement to test all pre-1978 homes for lead paint. Testing would stigmatize these properties until they are abated of lead, which can cost upwards of $20,000 per property and remove any equity that may have been accrued. Instead of placing the burden on homeowners, New Jersey Realtors® believes we should use existing revenues already collected from the realty transfer fee to address the issue. These funds can be allocated to this testing in all pre-1978 homes rather than just those that are listed for sale. INDEPENDENT CONTRACTOR In New Jersey, real estate licensees can be classified as independent contractors, which is vital to the
industry for a number of reasons. In a traditional employeremployee relationship, employers dictate the hours required to work, job responsibilities, and tasks to be completed. However, in an independent contractor relationship, real estate brokers supervise their agents, but give them latitude in how they represent their clients. This is a model that has consistently worked in the real estate industry, and has enabled many professionals to grow and thrive in the business. New Jersey Realtors® strongly supports the ability of real estate licensees to maintain independent contractor status and encourages lawmakers to uphold this position.
PROPERTY TAXES With New Jersey homeowners paying an average of over $8,000 a year in property taxes, New Jersey Realtors® believes we must do everything we can to make our state as affordable as possible to own a home, starting with preserving the property tax deduction. In the previous decade, this deduction was targeted to address revenue shortfalls in the budget and then reinstated. With the potential for changes to the federal tax code approaching rapidly, we must ensure this vital deduction remains in place. RAIN SPRINKLER SENSORS Legislation has been introduced that
would require homes sold with lawn sprinkler systems to be equipped with rain sensors so that they would not turn on when raining. Beyond the cost to install these sensors, homes with lawn sprinklers may not be able to be sold in winter months because the sensors cannot be installed or tested during this time. This could result in money being held in escrow and slower property sales.
FLOOD INSURANCE While the continuation of the National Flood Insurance Program must be addressed at the federal level, New Jersey Realtors® believes state officials should develop policies to assist homeowners struggling under the weight of flood insurance policies. This can be done through tax breaks, grants, or other measures to assist those who are being priced out of their homes by high flood insurance rates. With the NFIP up for reauthorization on September 30, 2017, Realtors® advocate for detailed reforms that meet the needs of policyholders while maintaining a long-term reauthorization of the NFIP program.
Designated REALTOR® | june 2017 | 5
Legislative Meetings & Trade Expo Realtors® departed from the Garden State for a week on Capitol Hill to remind Congress that a Realtors® role in the economy is vital. Senator Bob Menendez (center) with members of the NJ Realtors® Leadership Team and staff
Realtor® Party Director Charles Oppler
Washington, D.C. felt the power of the Realtor® brand during the week of May 15 at the National Association of Realtors® Legislative Meetings and Trade Expo. Realtors® from around the country were invited to meet in small groups with legislators from their districts to discuss national, state, and local government issues that affect the industry and private property owners. Top of mind at these legislative meetings was real estate’s economic impact on the community, including the fact that NAR research estimates that the sale of a typical home generates $64,000 in secondary expenditures. Realtors® also spoke to their legislators about the importance of properly representing homeowners’ best interests when it comes to tax reforms, preserving like-kind exchanges that are essential to the commercial real estate sector, and the urgent need for Congress to pass a multi-year National Flood Insurance Program reauthorization no later than September 30. Specific meetings were held with U.S. Senator Bob Menendez and legislators Josh Gottheimer, Donald Payne, Chris Smith, Leonard Lance, and Frank Lobiondo.
Alan “Dutch” Dechert, Bob Oppenheimer, Dennis DeCarlo
Representative Josh Gottheimer with Realtors® within his legislative district
In addition to meetings with the state’s key decision makers, NJ Realtors® staff and members in attendance participated in updates and events with fellow Realtors® from around the country, including the widely attended NAR 360, which was led in part by NJ Realtor® Past President and current Realtor® Party Director Charles Oppler. Oppler was also inducted into the $50,000 level of the NAR RPAC Hall of Fame. The week concluded with NAR’s Board of Directors meeting where the board voted to continue its support of Upstream, the technology developed to give brokers and agents a better way to manage their listing data and direct its distribution to MLSs, vendors, and third-party listing aggregators. Updates also showed that consumer awareness of realtor.com has reached 88 percent, making it the third across the Internet in terms of how much time users spend per session (behind Facebook and YouTube).
GOOD NEIGHBOR AWARD
Limited Edition
Relive 100 Years of Excellence In honor of our centennial, New Jersey Realtors® has created a commemorative book that captures the essence of the association and highlights the many Realtors® who’ve helped shape the last 100 years.
$20 or two for $35
Net proceeds from book sales will benefit a special 2017 Centennial Scholarship for the NJ Realtors® Educational Foundation.
100
Years of Excellence
1940 -1949
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I have assured our men in the armed forces that the American people wouldn’t let them down when the war is won.
”
— Franklin Roosevelt
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Purchase your copy at 100.njrealtor.com