December 2020

Here is the latest issue of the NJMLS newsletter. It has also been emailed to you in a more mobile-friendly version.

Table of Contents

Statistics
CMA Update
Prepare Listings
Class Calendar
 

NJMLS Statistics Update


The focus this month is on Statistics, beginning with trends. New listings rebounded after a steep drop at the beginning of the pandemic. Starting in June, New Listings outpaced 2019 levels.



Sold listings took a bit longer to recover.



Under Contract listings through the end of November also predict a continued upward trend in Sold listings.



One of our goals at the NJMLS is to continue to make statistics more accessible for you. We recently added an Absorption Rate link on the Full Report. This allows you to see the average number of months it will take for current inventory in a market to be sold. If you forget this, you can click on the “i” to see what this percentage represents.

Future enhancements to statistics will include a statistics hotlink on the Full Report, which will then be expanded to a Statistics Hotlink making a wider range of statistical data on that town available with just a click.

Brokers:  Register Your Teams Now!


NEW POLICY:  The Board of Directors recently approved creating a team structure within the system that will allow for the reporting of team Market Share Statistics. This option was recently released and will impact statistics starting in January 2021. A new Team Share option will be available in the Market Share Report criteria. Any listing with a team associated with it will appear in statistics in the Team Share report.

A change to the rule regarding the reporting of statistics in advertising has also been made, as follows:

Section 13
In addition, advertisements which contain Market Share Statistics must indicate whether the ranking is based on individual, team, office, or company statistics, and must include all the search criteria** used to determine the published ranking. Failure to comply will result in a $500 dollar fine for the first offense, $1000 fine for subsequent offenses.

**For example, top team in Tenafly for single family properties over 1 million from (date) to (date).

The following may help in further understanding the changes being made to statistics:

How are teams created in the MLS system?
The Designated Realtor has the ability to create and manage teams from a new option labeled MANAGE OFFICE TEAMS which is included under ROSTER. This new option allows the Designated Realtor to name the team, identify the team leader, and add team members.

How does this affect the display of listing/selling agents on a listing?
Listing/co-listing agents and selling/co-selling agents should continue to be entered individually and appear on the listing. If a listing or selling agent is part of a team, the transaction will be credited to the team in Market Share Statistics.

How does this affect the reporting of statistics?
Reporting of team statistics will be available in the Market Share Report beginning in January and will reflect transactions that occur after January 1st, 2021. A new TEAM SHARE option will be available in the report criteria. Any listing with a team associated with it will roll up in statistics to the TEAM SHARE report. This means:
  • When a Market Share Report is run for TEAM SHARE – all listings and sales of team members will be credited to the team.
  • When a Market Share Report is run for INDIVIDUAL AGENT SHARE – team listings and sales will be excluded.

How will this affect Circle of Excellence?
The awarding of credits is controlled by the State Association, NJ Realtors.

Tools That Leverage Listing Data


The first in a series of new tools that leverage MLS Data has been released. Now when viewing the Pricing and Summary page in a CMA prepared for a town in Bergen County, an additional option to view potential buyer interest appears under the suggested list price. Adjusting the slider displays the number of saved Prospect Searches for properties in that town at different price points.

This additional feature provides real-time data when making pricing decisions. This feature will soon be available as a link in Listing Maintenance, on tax records and other system areas.




 
 

Prepare Your Listings Before Publishing


We recently added several tools to the Temporary Listing process that allow you to fully prepare your listing prior to publishing. These tools save time and allow you to enter details such as photos, Associated Documents, and virtual tour information that will be saved while the listing is “in progress” and display when you click on “Save and Publish.”

You already had the option to upload photos to your “listing in progress” by using the “Add/View Photos” link on the Listing Load page. Now when copying your listings, photos will automatically be added to the new listing and saved in the temporary folder (Listings in Progress). You may edit and reorder these photos before finalizing the listing.

You may also add virtual tours to a listing in progress by using the link provided in that view. When you click on it, you will see options for fields to enter the URL for the unbranded tour, the one used in listing reports, as well as for the branded virtual tour, the one which is sent out in distribution to the pubic websites. Additionally, you may add Associated Documents to your temporary listings by using the link provided and attaching them via computer (the document must be saved on your computer) or by copying them from one of your previous listings for that property.

Finally, we have also added a “Preview Report” link which allows listing agents to proofread their listing as a Full Report and print, if needed.

 

Back to Top


 

January Webinar Calendar

 
Please use the links provided on the XL Paragon Desktop or call us at 201-387-1150 for assistance with webinar registration.
 
Please note, all classes this month will be offered as webinars only.
 
 
January 2021

Wednesday, January 6th
10:00am - 11:30am   Orientation Webinar

Thursday, January 7th
10:00am - 11:30am   Orientaion Webinar
1:00pm - 2:00pm   Orientation Part II Webinar**
**Agents must complete Orientation Webinar before taking Part II

Friday, January 8th
10:00am - 11:15am   Realist Webinar

Tuesday, January 12th
10:00am - 11:00am   zipForm Basics Webinar
1:00pm - 2:00pm   ShowingTime Webinar

Wednesday, January 13th
10:00am - 11:30am   Orientation Webinar

Thursday, January 14th
10:00am - 11:30am   Orientaion Webinar
1:00pm - 2:00pm   Orientation Part II Webinar**
**Agents must complete Orientation Webinar before taking Part II

Monday, January 18th
10:00am - 11:00am   Prospect Webinar
1:00pm - 2:00pm   Cloud CMA Webinar

Thursday, January 21st
10:00am - 11:30am   Orientaion Webinar
1:00pm - 2:00pm   Orientation Part II Webinar**
**Agents must complete Orientation Webinar before taking Part II

Friday, January 22nd
10:00am - 11:30am   Back to Basics Webinar

Tuesday, January 26th
10:00am - 11:00am   Power Tips for NJMLS Webinar
1:00pm - 2:00pm   Intro to Remine PRO Webinar

Wednesday, January 27th
10:00am - 11:30am   Orientation Webinar

Thursday, January 28th
10:00am - 11:30am   Orientaion Webinar
1:00pm - 2:00pm   Orientation Part II Webinar**
**Agents must complete Orientation Webinar before taking Part II


 
 
The NJMLS wishes all our members Happy Holidays and all the best in the coming year!

Our Mission Statement

To foster cooperation between REALTOR® members while providing
the highest quality data, tools, technology, and service.

Copyright © 2020 New Jersey Multiple Listing Service, Inc., All rights reserved.
Information from New Jersey Multiple Listing Service

Our mailing address is:
New Jersey Multiple Listing Service, Inc.
160 Terrace St
PO Box U
Haworth, NJ 07641

Add us to your address book