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NJMLS Newsletter - July 2008
Word from the Executive Director
Are you checking your emails for leads from our public website,
njmls.com? Consumers viewing your listings on njmls.com can send you an email
requesting showings or requesting more information. The number of email leads from
njmls.com continues to increase – May saw 42% more email leads than the same time last
year. The public site is working for you; make sure your email account accepts emails
from leads@njrealestate.com so you don’t miss a valuable lead. Over the summer we will
be working on several enhancements to XL Paragon based on your suggestions. A few of
these enhancements include …
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Tax Auto-Fill: An Important Tool for Maintaining Data Integrity
There is an important and easy-to-use function in the XL Paragon
system that will allow members to automatically insert key tax information into listings.
Accuracy in this content lets other members who view your listings link to the correct
tax data and tax maps. You may have already seen the Auto Fill Tax Search screen pop up
when entering a new listing into the system …
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DOJ and NAR Reach Settlement
The litigation between the Department of Justice (DOJ) and the
National Association of REALTORS (NAR) over claims of antitrust violations has resulted
in a proposed Final Judgment that will likely be entered in early September 2008. Key
parts of the Final Judgment include …
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Short Sales: Part of Today’s Real Estate Landscape
The potential “short sale” has become more commonplace in the current
real estate environment. According to NAR, a potential short sale is one where “the listing
agent reasonably believes the purchase price may not be enough to cover payment of all liens
and costs of sale and the seller is unwilling or unable to bring sufficient liquid assets to
the closing.” It is important that NJMLS members understand that they have an obligation to
disclose a potential short sale to prospective buyers in the Remarks section of a listing.
Suggested language for this is “Potential short sale, subject to lender/bank approval.”…
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What’s New at the New Jersey Multiple Listing Service
NJMLS Executive Director presents Scholarship Awards at the 25th Annual
NJAR Educational Foundation Scholarship Awards Luncheon held on June 18, 2008 …
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“Possession” has returned. We have added the “Possession” field back to
Listing Maintenance and to the XL Paragon search options. You will find the yellow “Possession”
field directly above Showing Instructions …
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Did You Know?
TALK ABOUT A DEAL…LISTING CHANGES…EXTENDING A LISTING…
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