Hey Signature agent,

We are just 2 days away from the new law, Real Estate Consumer Protection Enhancement Act, that goes into effect August 1, 2024 which helps strengthen both consumer and real estate licensee protections. CLICK HERE TO READ THE BILL

These changes are all happening very quickly and in real time. Signature Realty NJ is staying up-to-date to relay all important updates as efficiently and effectively as possible.

IMPORTANT ANNOUNCEMENTS

Agents that do not cohere to the new law, will be heavily FINED. Here are some major changes that you should be mindful of, as of August 1, 2024:

• Open House Disclosure must be on display and also next to the sign-in sheet. (CLICK HERE TO DOWNLOAD)

• Seller’s Disclosure with Flood Risk Disclosure must be signed and uploaded into the proper MLS for all listings that aren’t officially under contract, even if in attorney review status. (CLICK HERE TO DOWNLOAD)

• Exclusive Buyers Agency Agreement must be signed with the commission filled out by all buyers that aren’t officially under contract, even if in attorney review status. Must be fully executed prior to showing any homes. (Updated form will be added to ZipForms on August 1, 2024 - use the current one in the meantime.)

• Exclusive Tenants Agency Agreement must be signed with the commission filled out by all tenants that do not already have a signed lease. Must be fully executed prior to showing any rentals.

IMPORTANT REMINDER: Going forward, before you show any properties, you must have the CIS and Agency Exclusive forms fully signed for tenants and buyers. We will send an additional email with the updated forms once they are available.

We will continue to keep an open line of communication to best guide you through this major shift in the real estate industry. Contact us on LIVE CHAT if you need additional support.

We are all in this together!

Stay informed.

Stay educated.

Don’t let redirection distract you from reaching your goals.

You got this!

Regards,

Jon Steingraber and the Signature Team