DESIGNATED
REALTOR
®
ISSUE 2: April 2020
Jump into + Click Here for COVID-19 Resources
NJREALTOR.COM
I M P O R TA N T D AT E S & D E A D L I N E S
APRIL April is Fair Housing Month of Directors 7 Board Meeting (Virtual)
10 15
NJ Realtors® Office Closed Good Friday
MAY
JUNE
10 Mother’s Day 11-16
Realtors® Legislative Meetings & Trade Expo (Virtual)
9 Executive Meeting 9
Board of Directors Meeting
JULY Realtors 4 NJ Closed
®
Office
Fourth of July
21 Father’s Day
Jersey 25 New Realtors Office ®
Tax Day
Closed Memorial Day
WHAT’S BUZZING IN REAL ESTATE?
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According to the National Association of Realtors® Chief Economist and Senior Vice President Lawrence Yun, “the coronavirus is leading to fewer homebuyers searching in the marketplace, as well as some listings being delayed.” NAR’s latest flash survey implies in the short-term home sales could be chopped by around 10 percent.
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In a recent report from the National Association of Realtors®, single female buyers account for the second-largest segment of home buyers at 17 percent just after married couples. Find out where they’re buying here.
Spring has sprung! The best home improvement projects to recommend to your clients this spring include staining their deck, adding a new railing to their porch, and installing a new mailbox. Read more here.
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With New Jersey Realtors® Member Perks Partner Health Alliance Network, it’s now easier than ever to see a doctor. Health Alliance Network focuses on TeleMedicine—affordable and convenient healthcare offered through mobile technology. New Jersey Realtors® members receive the first month free here. Learn more and sign up here.
If you’ve always wanted to turn your home into a whimsical treehouse, now is the time. Los Angeles designer Justina Blakeney coined the term “jungalow” to describe her mix of bold colors, pattern mixing, bohemian textiles, and lots of greenery. See the trend in action here.
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Make your voice heard! The National Association of Realtors® is accepting committee applications now through May 1. Learn more here. New Jersey Realtors® is now on Photofy! Download the app today and share marketing assets right from your phone. See page two for details.
New Jersey Realtors® & COVID-19 RESOURCES FOR YOU Realtor® Information • COVID-19: A Guide for Realtors®
New Jersey Information • New Jersey Department of Health • New Jersey Business and Industry Association • Attorney General Guidance (pertaining to housing discrimination)
Virus Information • World Health Organization • Centers for Disease Control and Prevention
Additional Resources
THE CURRENT SITUATION
• Avoiding Scams • FEMA • Freddie Mac Disaster Assistance
The COVID-19 pandemic has forced schools, businesses, and government offices to close in New Jersey. As Realtors®, your business is being impacted in a number of ways, but we’re doing all that we can to help mitigate the economic effects during this unprecedented event.
Follow Us for Up-To-Date Information
UPDATES Association & Industry Updates Click here to watch our latest Month in Review video above
• NEW COVID-19 Buyer and Seller Release Form • NEW COVID-19 Addendum for seasonal leases • NEW COVID-19 Addendum for sales contract • An update from President Angela Sicoli and our request to support independent contractors on the federal level. • All in-person meetings at New Jersey Realtors® have been suspended through end of March. • All necessary committee meetings are being held remotely. • Staff is working remotely out of an abundance of caution. They are fully capable of handling all member needs while remote. • Resources from our General Counsel’s firm: Greenbaum, Rowe, Smith & Davis
State Government • NJREC will allow for online prelicensure classes • New fire code inspection guidelines released • Guidelines for appraisals • On March 30, the Governor announced an update to Executive Order 107 allow real estate agents to show houses on a 1-on-1 basis, with a prohibition on open houses. Additional guidance to follow. Gov. Murphy issued Executive Order 107 on Saturday, March 21, effectively shuttering all non-essential businesses and asking New Jerseyans to stay home. • We have recommended the following courses of action to reduce the delay and or halting of real estate transactions. • Fire Inspections: to waive, suspend, or modify CSACMAPFEC inspections and procedures for obtaining a Certificate of Smoke Alarm, Carbon Monoxide Alarm and Portable Fire Extinguisher Compliance (CSACMAPFEC) required under N.J.A.C 5:70-2.3(a). • Certificates of Occupancy: we are working to suspend or modify the
requirements for Certificates of Occupancy, including the suggestion that these inspections be done “virtually” • Deed recordings and title searches: we are aware that many counties have online databases, however, we are working to determine what can be done in counties that do not yet have these capabilities. • Per Gov. Murphy’s office, there is a moratorium on evictions during the ongoing pandemic. • New Jersey EDA announces grant and loan programs • New Jersey Housing Mortgage and Finance Agency
Federal Government • Small Business Loan Guidance • Chamber of Commerce Small Business Guide Checklist • HUD suspends face-to-face requirement amid virus • HUD, Fannie Mae, and Freddie Mac will suspend evictions and foreclosures during the pandemic • FHFA eases standards
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New Jersey Realtors® & COVID-19 Frequently Asked Questions Q A
Can I have an open house? No. There is a ban on open houses under Executive Order 107.
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Can I show a house? Per Governor Murphy’s March 30 clarification to Executive Order 107, “Realtors® can operate and show houses to prospective buyers on a 1-on-1 basis or to immediate families. There is still a prohibition on open houses.” We continue to urge our members to exercise extreme caution with their clients. New Jersey Realtors® encourages the use of virtual tools, such as FaceTime, for showings (at the seller’s discretion.)
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Can I still close on a transaction? Yes, you may continue to work and close your transactions. If an in-person closing is necessary, you must practice safe social distancing as established by the CDC. Is real estate considered essential or nonessential under Governor Murphy’s Executive Order 107? On March 30, Gov. Murphy clarified Executive Order 107 with an Administrative Order: “Individual appointments to view real estate with Realtors® by individuals or families shall be considered essential retail business for the purposes of paragraph 6 of Executive Order No. 7. However, open houses will be considered impermissible gatherings in accordance with paragraph 5 of Executive Order No. 107.” A quick note to our membership—We did not ask to be deemed essential; we did reach out to the governor’s office for clarification of his expectations on how we were to proceed as an industry under Executive Order 107. The clarification on the governor’s Executive Order was sought only to determine what was permissible for those renters, buyers, or sellers who are in immediate need of real estate services. Situations where there is an
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immediate need could include: a renter whose lease ends during the EO, end of a winter rental, those who needed to buy or sell for health or financial reasons that existed before COVID-19, those in pending transactions who needed guidance, or a vacant property, to name just a few. As a state association, we are always trying to best inform our members about what is and is not allowable based on the most current state laws, regulations, and orders—we needed the clarification from the governor’s office in order to inform our membership on what was allowed during this unprecedented event. To be clear, we suggest all showings be held through virtual options. As a New Jersey Realtor®, you should not take this action by the governor to mean you must continue your business.
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What about problems with title and deed searches at the county level? If you are having problems with title or deed searches, please reach out to us at news@njrealtor.com or your local board and we will work to get you answers. Is there relief for independent contractors in the stimulus package? Yes. The $2 trillion economic stimulus package provides relief for independent contractors. Read more here. Are there any options for a virtual notary so I may avoid in-person meetings with regards to a closing? There is a bill allowing remote notary waiting for Gov. Murphy’s signature. The requirements are as follows: • The notarial officer must have personal knowledge of individual, satisfactory evidence of ID by a witness, or two different proofs of ID by the individual. • The notarial officer must be able to reasonably confirm that two parties have the same document in front of them. • The notarial officer must keep audio & visual recording of the performance of the notarial act. The bill must still be signed into law.
Follow Us for Up-To-Date Information
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I need a CO for a closing and my municipality is closed/not responding/postponing all inspections, what can I do? In certain municipalities where they are waiving the Fire Certificate and Certificate of Occupancy inspections, your client should check with the municipality and consult their attorney for guidance. We requested statewide guidance from the NJ Department of Community Affairs, but they have indicated it does not fall under their jurisdiction. The guidance they offered was with regards to new construction only. If you are still having trouble with this, please contact us at news@njrealtor.com with the problem and municipality you are dealing with.
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I need a fire inspection certificate for a closing and am having trouble. The Department of Community Affairs released new guidance for fire inspection certificates, available here. Most municipalities are offering a waiver of the fire inspection certificate with an affidavit. If you are still having trouble with this, please contact us at news@ njrealtor.com with the problem and municipality you are dealing with.
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Are evictions still able to happen? No. There is a moratorium on all evictions per Executive Order 106. page three, section 1.
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Will there be an extension to the continuing education requirement deadlines? The next deadline for continuing education is not until April 30, 2021. There are no deadlines this year.
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What about the deadlines in a sales contract or a lease? If any of your clients have questions about how the COVID-19 pandemic affects any of the deadlines or other issues in their sales contract or lease, you should
advise them to consult an attorney about how the pandemic affects their individual transaction.
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Will I qualify for pandemic unemployment insurance? The stimulus bill provides for unemployment insurance for independent contractors. This is different than regular unemployment and the guidelines and administrative process has not be released yet. Once we have that information, we will notify membership. Can I apply for PPP and Pandemic Unemployment Insurance? This is still unclear. We have sought clarification and will update you as soon as we have the information. Can I apply for PPP as an independent contractor? Yes. These loans are intended for small businesses, sole proprietors, and independent contractors. Application for independent contractors opens April 10. Should I include independent contractors in my employee count and expenses if I apply for PPP as a business? This is still unclear. NAR has sought clarification and we will update you as soon as we have this information. Am I ineligible for Pandemic Unemployment Assistance because real estate was deemed “essential” in New Jersey? Per the National Association of Realtors®: “NO, you may still be eligible to apply for the pandemic unemployment assistance if you have been fully or partially unemployed due to the COVID-19 public health emergency. We are awaiting new guidance from the Department of Labor with respect to this program. We expect it within 10 days.”
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hen it comes to marketing yourself, what’s your strategy? Do you have help from your office or are you responsible for managing your own brand from the ground up? It’s hard to find the time to be an expert marketer for yourself when you’re busy juggling deals, clients, and properties.
As you may know, the National Association of Realtors® has partnered with Photofy, a mobile content creation tool, for their national ad campaign — That’s Who We R. And now, we’re excited to announce that New Jersey Realtors® has also partnered with the company to offer you New Jersey-specific assets for your marketing. This partnership allows you to easily personalize and share marketing assets right from your phone. And if you’ve already signed up with Photofy, the New Jersey library will be easy to toggle back and forth. Get Started If you haven’t already, download the Photofy app with your NRDS ID to verify your membership and load the NAR + NJ Realtors® library. From there you’ll be prompted
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to enter in your personal contact information. This way your contact information will automatically populated on the graphics in the library. Assets in the New Jersey Realtors ® library include our seasonal advertising campaign, some evergreen content, some That’s Who We R + New Jersey specific ads, and more to come. The content is pre-sized for Facebook, Instagram, Twitter, Facebook covers and Twitter covers, respectfully. What Can You Do With It? Do you ever find yourself searching for content that fits for you? Well now you can take a statewide advertising campaign— Plant Roots with a Realtor®—and make it yours. You’ll be able to add a headshot, your name, contact information and then immediately share it to Facebook. Or you can save it to your phone for use elsewhere. We know how hard you all work in every aspect of your business, so when it comes to creating professional content for your personal marketing, we hope this as well as promotes the value of using a Realtor®.
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After linking your NAR to Photofy open the app
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Tap accounts which is located on the bottom of the screen, then choose State Realtor速 Association
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Choose what platform you want to use (located at the top portion of the screen) and choose which graphic you want to customize
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Tap text to edit your personal information, and tap the bottom lefthand corner of the graphic to change/add a photo
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After customization is complete click done in the top righthand corner of your screen and choose where you want to share your graphic
Download
For Instagram, choose if you want to post on your story or feed
8 Finished product
from the App Store!
The National Association of Realtors速 library is available now and the NJ Realtors速 library is coming soon. Designated REALTOR速 | April 2020 | 5
NJ Realtors® on the Hill BY ERIN MCFEETERS
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n the beginning of March, New Jersey Realtors® Leadership Team and Government Affairs Department traveled to Washington D.C. to meet with New Jersey elected officials to discuss current real estate industry topics.
NJ Realtors® and the New York Association of Realtors® teamed up to meet with their elected officials. Fun fact: did you know the capital complex is connected by tunnels? This made it extremely easy for our team to travel from office to office for their meetings.
“Each year we make hill visits a priority,” said New Jersey Realtors® President Angela Sicoli. “Getting face time with members of Congress or their office staff is how we continue to ensure private property rights are protected.”
Within two days, NJ Realtors® met with the whole delegation and had extremely productive meetings. Fun fact: members of Congress put out snacks that are from their home state like M&M’s and Welches Fruit Snacks, the perfect way for our team to fuel up in between meetings.
The NJ Realtors® advocacy team’s first meeting was with experts from the National Association of Realtors® at their Washington D.C. headquarters. They discussed current topics of interest which included flood insurance, state and local taxes (SALT), and infrastructure—specifically lead water pipes and tunnel and bridge replacements.
Three of the five largest state associations were also on the hill meeting with congressional delegations. New Jersey Realtors® took the opportunity to meet up with the other states present to discuss high cost state issues over dinner.
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Ultimately this year’s visit to the hill was a success. For more information on the latest industry topics click here.
The Importance of the 2020 Census W
ith the start of a new decade comes the decennial Census, which will count every person living in the 50 states, District of Columbia, and five U.S. territories. The Census, which is dictated by the Constitution and conducted by the U.S. Census Bureau, provides critical information about the communities you all live and work in.
For this count, the National Association of Realtors® has launched a Census Awareness Campaign because of the importance the Census data has on resources for businesses and communities around the country, as well as redistricting and reapportionment. The count started in midMarch and can be completed online, by phone, or by mail.
CENSUS 101: WHAT YOU NEED TO KNOW The 2020 Census is closer than you think! Here’s a quick refresher of what it is and why it’s essential that everyone is counted.
Everyone counts. The census counts every person living in the United States once, only once, and in the right place.
It’s about fair representation.
It’s in the Constitution.
Every 10 years, the results of the census are used to reapportion the House of Representatives, determining how many seats each state gets.
The U.S. Constitution mandates that everyone in the country be counted every 10 years. The first census was in 1790.
It’s about $675 billion.
The distribution of more than $675 billion in federal funds, grants, and support to states, counties, and communities are based on census data. That money is spent on schools, hospitals, roads, public works, and other vital programs.
It’s about redistricting. After each decade’s census, state officials redraw the boundaries of the congressional and state legislative districts in their states to account for population shifts.
Taking part is your civic duty. Completing the census is mandatory: it’s a way to participate in our democracy and say “I COUNT!”
So, still concerned about why it’s important to respond? These are a few things the Census affects: • public services and funding for schools, hospitals, fire departments and certain infrastructure improvements. • Census Bureau employees take a lifelong pledge of confidentiality • the direction of $1.5 trillion in federal funds • the direction of $93 billion to Federal Direct Student Loans, $19 billion to Section 8 Housing Choice Vouchers and $12 billion to the National School Lunch Program Responding is part of your civic duty and directly impacts public funding. As community leaders, it’s important Realtors® are at the head of that cause. Strict federal law protects your responses. And your responses are confidential, but your participation is key. Remember: you’ll never be asked for social security numbers, a donation, or anything related to a political party—your privacy is of top concern. Designated REALTOR® | April 2020 | 7
2019 Profile of New Jersey
Home Buyers and Sellers Characteristics of Home Buyers
33% are first-time
$71,000 median income
home buyers
58% married couples
the typical home buyer is
33
9% single males
20% single females
10% unmarried couples
29%
desired to own a home of their own
12%
2% active duty
veterans
years old
Characteristics of Homes Purchased
11% new homes
The Home Search Process looked at
1,800
89% previously
built in
1981
owned homes
92% found websites
square feet
useful
8 86% found real estate agents useful 5
homes
over
weeks
Financing the Home Purchase
87% first-time buyers
86%
repeat buyers
their agent
loan debt
55% have credit
30% have car loans
card debt
Home Buying & Real Estate Professionals
90% would recommend
55% have student
44%
used referrals to find their agent
Home Sellers & Their Selling Experience the typical seller is
55
years old
lived in their homes for
$138,200 median income
9
years before selling
