Rules and Regulations/Policies

Rule Updates

Rule Updates

Click Read More to keep up-to-date on the most recent rule changes.

READ MORE

Maintaining the Integrity of the NJMLS Data

Maintaining the Integrity of the NJMLS Data

If you’re relying on statistics to keep up to date on market trends and conditions, or you’re compiling listings for comparables to send to customers to assist them in buying or selling a home, you depend on the data you retrieve from XL Paragon. Please click on Read More to learn the rules and regulations regarding keeping your listings accurate and up-to-date.

READ MORE

Reporting Status Changes on Short Sales

Listing Brokers and agents must update all statuses on a short sale as follows: ARIP when an offer is signed by buyer and seller and being reviewed by the attorneys/bank or lender.  Do not wait for bank approval to report the ARIP status. Under Contract once the attorney review has been completed.  The listing is […]

READ MORE

The Help Desk:  Short Sales

The Help Desk: Short Sales

Do I report status changes on a short sale that same as I do on other listings? This is one of the most frequently asked questions we receive at the NJMLS. A listing that is a short sale or potential short sale is treated the same way you would any “Exclusive Right to Sell” listing.

READ MORE

REMINDER: Buyer and Owner Name Requirements

REMINDER: Buyer and Owner Name Requirements

A letter must be on file with NJMLS when a Seller does not want their name to appear in a listing. The letter must be signed by both the Seller and the Listing Broker. Our policy states: “If the owner name and owner phone number are going to be left out of the listing, a […]

READ MORE