Code of Ethics DVD Available from NJAR^®

A DVD, The Code of Ethics: Your Promise of Professionalism, is available to help members fulfill the quadrennial ethics training requirement mandated by NAR every four years. Each member is required to complete no less than two hours and thirty minutes of Code of Ethics instructional training by no later than December 31, 2008.

The DVD, produced for NJAR^®, is available for $5.35 each, plus shipping and sales tax. However, not all local boards/associations in New Jersey accept this DVD as an approved format for the quadrennial training. Prior to ordering, you will need to contact your primary local board/ association to inquire as to whether or not they will accept this for your training.

Updated Attorney General Memorandum Available

The New Jersey Office of the Attorney General/Division on Civil Rights has updated the letter to property owners, which licensees are required to provide to residential property owners at the time when a listing is taken. The summary of New Jersey's Law Against Discrimination, also known as the Attorney General's Memorandum, has been signed by the Attorney General, Anne Milgram, and is dated April 2008. Download the updated memo in English and in Spanish.

REC Now Handles License Transfers Online

The New Jersey Real Estate Commission (REC) has added a new feature onto its website that allows brokers to administer license transfers and terminations online. Brokers of record and employing brokers can now use the system at www.state.nj.us/dobi/division_rec/xfers.html and follow three steps to process salesperson and broker-salesperson license terminations and transfers.

Risk Management

A big part of running a successful real estate business is avoiding the risks that can lead to costly litigation. Challenges may occur that deal with issues such as agency, antitrust, disclosure, ethics and fair housing. Armed with the resources below, members can be ready to proactively deal with the challenges that may come their way.

As the licensing authority in the state, the New Jersey Real Estate Commission (REC) maintains regulations for practitioners to uphold for licensure. Practitioners who are members of the NATIONAL ASSOCIATION OF REALTORS^® pledge to uphold the Code of Ethics as an added professional standard in their practice.

Members can check out the following resources on licensing requirements and other issues that impact the real estate business.