DESIGNATED
REALTOR
®
ISSUE 3: June 2020
April Sales Down Amid Pandemic
NJREALTOR.COM
I M P O R TA N T D AT E S & D E A D L I N E S
JUNE Committee 9 Executive Meeting (Virtual) of Directors 9 Board Meeting (Virtual)
JULY
4 Independence Day
AUGUST Financial 14 National Awareness Day
15 Tax Day
SEPTEMBER Realtors Office 7 NJ Closed—Labor Day ®
Committee 15 Executive Meeting
20 First Day of Summer
of Directors 15 Board Meeting
21 Father’s Day
Neighbor 18 Good Award Application Deadline
WHAT’S BUZZING IN REAL ESTATE?
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The National Association of Realtors® Legislative meetings went digital this year because of COVID-19. More Realtors® had the opportunity to attend sessions and partake in networking opportunities than ever before. Read more about the event on page 4.
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During NAR 360 a new That’s Who We R campaign video, Our Home is Everything Now, was rolled out. The video showcases the many ways we’re staying connected—happy hour zoom calls, homeschooling, home workouts, and more. Watch the video here.
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In the latest New Jersey Realtors® heat map survey, 58 percent of respondents see inventory as a serious problem, 84 percent see the virus as a large or medium threat, six-in-ten members say housing prices in their area are the same as last year, and 78 percent believe real estate should be “essential.”
As habits change due to the pandemic, ancient traditions like taking your shoes off before entering a home could be making a comeback according to Parisian interior designer Charles Zana in a Realtor.com article. Having personal lockers in entrance ways will be seen more in the months to come. Read the article here. Due to the pandemic, couples across the country were forced to postpone their upcoming weddings. Some couples are using recouped wedding celebration deposits to make a down payment on a home. Read more here.
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In March, consumer retail spending of building material and gardening materials was up 10.4 percent, according to NAR Chief Economist Lawrence Yun. “People are spending more money and time trying to upgrade their home. Maybe they’re trying to prepare for when the market reopens that their house will maximize values,” said Yun.
3 REALTORS VOTE ®
The data below is courtesy of the National Association of Realtors®—the full report can be found here.
Nationally Realtors® registered to vote:
1,212,136 | 87.93% Realtors® unregistered to vote:
166,465 | 12.07%
New Jersey In 2016, 85% of New Jersey Realtors® were registered to vote. The number of New Jersey Realtors® registered to vote increased 4.28% since 2016. New Jersey Realtors® registered to vote: 46,633
| 89.28%
New Jersey Realtors® unregistered to vote: 5,598
| 10.72%
JULY
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New Jersey Primary Election is July
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General Election is November 3, and to vote you must register by October 13
Register to vote at realtorsvote.org
Executive Order 144 mandates that the upcoming Primary Election will be mainly conducted by vote by mail. All active, registered voters will automatically receive a ballot. After filling out the ballot you can mail it from home, drop it off at your County’s Board of Elections, or deliver the ballot to a secure drop box location. Check your County Board of Elections website for details. Designated REALTOR® | April 2020 | 1
Amid Pandemic, April Sales Down BY COLLEEN KING OLIVER
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s expected, the housing market numbers in April were down in
almost every category, except price. According to New Jersey Realtors® monthly housing statistics, while new listings, pending sales, closed sales, and homes for sale are down double digits, prices are stable and on the rise. “It’s a case of supply and demand,” said 2020 New Jersey Realtors® President
Angela Sicoli about the rise in costs. “Far before this pandemic we had an inventory shortage throughout the state and now, compounded with a large percentage of people who were ready to sell in March but have put their plans on pause, you are seeing buyers who have far less to choose from. With only a small pool of homes to choose from buyers are sometimes paying slightly above asking or finding themselves in a situation with multiple offers on the property.” Throughout the state, when compared to April 2019, new listings were down a staggering 63.1 percent, with only 7272 recorded throughout the state for the month. Pending sales for that same period dropped 46.7 percent. However, closed sales were only down 20.7 percent, indicating the pipeline of deals
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in progress from before the lockdown has extended through at least some part of April. There were just 35,714 homes for sale in New Jersey in April, down 35.6 percent from last April. In April the median sales price for all properties was $333,000, up 14.4 percent over April 2019. Homes are moving quickly, with the average property spending just 61 days on the market, a 9 percent decline in April. Bergen County saw a 70.6 percent drop in pending sales from April 2019 to now, but a 15.7 percent increase in median sales price, rising to $549,500. Monmouth County saw similar trends, with new listings down 65.4 percent, and median sales price up 10.3 percent. Cape May saw a more drastic jump in median sales price with an increase of 25.8 percent and a drop in new listings just 53.5 percent. As the economy slowly begins to reopen, many are looking ahead and while the industry faces a struggle in the coming months, housing is a strong driver of the economy and will likely lead the recovery. For more information visit njrealtor.com/data.
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First-Ever Virtual Hill Visits and Legislative Meetings T
he global pandemic pushed many large in-person conferences and functions to cancel, reschedule, or move to a digital platform. The National Association of Realtors® opted to shift the 2020 Legislative Meetings to an online platform and offer the conference sessions at no cost to NAR members. Under normal circumstances, the May midyear meetings bring about 10,000 Realtors® to Washington D.C., but Realtors® influence on Capitol Hill was stronger than ever before with over 28,000 NAR members in attendance this year.
Throughout the week of midyear, New Jersey Realtors® members, Leadership Team, and Government Affairs Department had the opportunity to meet with almost all of New Jersey’s federal elected officials. “During this time of crisis, it became a top priority to meet with our representatives during this year’s midyear meetings,” said New Jersey Realtors® President Angela Sicoli. “The housing market plays a vital role in the economy, so we had to be vocal about industry issues with our elected officials. Overall, our voices were heard, and we have good faith in our Senators and U.S. Representatives.” In years prior, to attend hill visits during midyear, you must be in attendance at the meetings and your local board must designate you to attend. With nearly 550 Realtors® in attendance, holding hill visits virtually provided more members the opportunity to participate than ever before. The meeting with Sen. Menendez’s office had over 200 attendees, which would not have been possible if the meeting occurred in-person. NAR Board of Directors Recap In preparation for the upcoming NAR Board of Directors meeting, Region 2 Regional Vice President Drew Fishman presented the NAR Leadership Team ballot and what policy changes were on tap to discuss at the meeting. Ultimately, at the meeting, three crucial votes took place. First, in 2021 members will not see a dues increase from the National Association of Realtors®. Designated REALTOR® | April 2020 | 4
Second, brokers will be able to get Multiple Listing Service data feeds of their own listing content. The new rule was overwhelmingly approved by the board according to NAR, and promises greater efficiency by ensuring brokerages don’t have to manually enter the same data multiple times into various systems. For the first time, the board voted for the 2021 Leadership Team through a remote election. Your National Association of Realtors® 2021 Leadership Team Officers are as follows, President, Charlie Oppler, AHWD, C2EX, from Franklin Lakes, N.J.; 2021 President-elect, Leslie Rouda Smith, ABR, AHWD, CIPS, CRB, CRS, e-PRO, PMN, C2EX, from Dallas; 2021 First Vice President Kenny Parcell, ABR, CRS, C2EX, from Spanish Fork, Utah; 2021 Immediate Past President Vince Malta, CIPS, C2EX, from San Francisco; and 2021 Treasurer Nancy M. Lane, AHWD, CCIM, RENE, C2EX, from Brandon, Miss. Appointed Vice Presidents and Regional Vice Presidents were also decided during the meeting. Your 2021 Region 2 Regional Vice President is Margaret Hartman, ABR, AHWD, CIPS, CRB, CRS, GRI, from Buffalo, N.Y. Special Congratulations Midyear marks the welcoming of the newest Realtors® Political Action Committee Hall of Fame class. Congratulations to the class of 2019! Congratulations to the $50,000 level inductees: Christina Banasiak, Mary Davis, and William Hanley. Congratulations to the $25,000 level inductees: William Flagg and Robert Oppenheimer. They will have their official induction into the hall of fame at a future NAR event. 2020 Immediate Past President Ilene Horowitz was also appointed as the NAR Association Leadership Liaison for 2021. Last, but certainly not least, New Jersey Realtors® Chief Executive Officer Jarrod Grasso was awarded The William R. Magel Award of Excellence.
Stand-Out Sessions Did you miss out on the midyear fun? Many sessions are available for streaming now at 2020.legislative.realtor/sessions.
Meeting with U.S. Rep. Mikie Sherrill
Meeting with Rep. Donald Payne Jr.
NAR360 A brand new That’s Who We R campaign video advertisement opened the session. The ad, Our Home is Everything Now, showcases how the meaning of home has been reframed due to COVID-19. Then, the National Association of Realtors® Leadership Team addressed the effects of the pandemic and what NAR has been doing to help members through these difficult times. Federal Legislative & Political Forum Attendees dove into politics with special guests, former New Jersey Gov. Chris Christie and former Chicago Mayor Rahm Emanuel. They discussed the current political climate, and the Presidential Election campaign trail. NAR General Session Majority Whip Rep. James Clayburn and Sen. Tim Scott discussed the COVID-19 crisis and shared inside views of current events at the Capitol.
Meeting with Rep. Albio Sires
Residential Economic Issues & Trends Forum Realtors® dove into residential real estate trends with NAR Chief Economist Lawrence Yun. Yun went into details about market turbulence from COVID-19 and where the economy is headed. Finding Peace in Turbulent Times The current environment is taking a toll on mental health, but Paula Monthofer walked Realtors® through techniques and provided resources to help them stay calm and focused with her session.
Meeting Rep. Tom Malinowski Designated REALTOR® | April 2020 | 5
New Member Perks Partners New Jersey Realtors® is excited to present the newest Member Perks Partners. Visit njrealtor.com/memberperks for details about the savings opportunities.
Health Alliance Network
h ont M st e Fir Fre
Health Alliance Network Health Alliance Network is a healthcare company focused on health and wellness through telemedicine—a simple, affordable and convenient healthcare offered through mobile technology. Telemedicine does not replace a primary physician and is not an insurance product nor a prescription fulfillment warehouse. For $14.99 a month you get unlimited doctor visits, unlimited dermatology visits, and behavioral health counseling with no co-pays, no deductibles, and no per visit fee. NJ Realtors® members receive their first month free with discount code, learn more here. Learn more about telemedicine by watching this video. Eat Clean Bro Alleviate some of the stress of cooking and grocery shopping and get all-natural prepared meals delivered straight to your door with Eat Clean Bro. How it works: view Eat Clean Bro’s menu and choose from over 50 ready-to-eat meals. They have options for all types of diet restrictions such as low calorie, vegetarian, keto, and more. Place your order and either pick-up your meals from their New Jersey location or have your meals delivered. NJ Realtors® members receive 20 percent off. Learn more here. POM When paired with your phone, the POM can create a phone call between yourself and an emergency dispatcher, a partner or friends and family all while keeping your eyes on the situation at hand. The device pairs with your phone, and when activated, instantly and discreetly sends an alert to emergency dispatchers and your trusted contacts. Your live GPS location is sent, and a two-way voice call is opened up through the device, eliminating the need to fumble for a phone. Keep yourself and others safe whether at open houses, meetings with clients, walk-throughs with other agents or in your personal life. New Jersey Realtors® receive $30 off their device, learn more here. CookUnity Get healthy and delicious meals delivered right to your door. Eating healthy should not mean making sacrifices. CookUnity can help find delicious meal plans that fit you best. Their team of 50 plus independent private chefs have different backgrounds and bring world-class flavor to your table. Plus, get weekly advice on choosing meals that are right for you and sticking to your healthy eating habit. All of the meals are pre-prepared and ready to eat in under two minutes. Each week there are 150 healthy meal options which can be tailored to your taste and preferences. NJ Realtors® receive 25 percent off your first three months, learn more here. Life Guides LifeGuides is an emotional health and well-being solution which provides peer-to-peer support to help members navigate and overcome life challenges. Services are discounted to NJ Realtors® to $2.50 per member per month which includes spouse/significant other and family members over the age of 18. Learn more here.
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