New! Email Reminders When Marking Listings ARIP or UC
When a Listing Agent marks a listing in Attorney Review (ARIP) and Under Contract (UC), an email will go out to them confirming the status change and reminding them of next steps regarding these changes. This is also a good way to review status change information to ensure accuracy.
Please click on the link below to view sample ARIP and UC emails:
http://www.newjerseymls.com/wp-content/uploads/2023/02/ARIP-and-UC-Email.pdf
If you do not wish to receive these emails, you may opt out by going to Toolkit> Alert Preferences. Here you can uncheck the options for the emails you do not wish to get. After making changes, please be certain to click on "Update" to save them.
Reminder: If you're a listing agent who has had transactions close, you have already received the email that is sent when a listing is marked Sold. This provides the opportunity for a Listing Agent to proofread to check that Sold information is correct.
If you have any questions, contact NJMLS at support@njmls.com or call 201-387-1150.
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NJMLS Listing Requirements: Adding and Maintaining Listings
One of the goals of the NJMLS is to provide timely and accurate data for our member agents who use it to prepare statistics, create a Comparative Market Analysis (CMA), and send up-to-the minute listings to potential buyers. As a member, we rely on you to keep your listings current because that's where this data comes from. Here are a few reminders regarding entering and maintaining your listings:
Clarification on When to Report a Co-op in Attorney Review
Co-op listings involve the purchase of shares of a corporation, which means because it is not real property, real estate agents are not permitted to prepare the contract; only an attorney can prepare a Co-op contract. Co-op listings should be reported in Attorney Review (ARIP) when the contract is being drawn up by an attorney, and the buyer has been determined to meet the financial requirements of the Co-op, NOT when the letter of intent is signed by the prospective purchaser.
Once the attorneys have drawn up the contract and it has been signed by all parties, the listing can be marked Under Contract-Board Approval Pending (UCBAP) if pending final approval by the Co-op board, otherwise the status can be changed to Under Contract (UC).
Quick Reminder on All Listing Requirements
Which Listings Need to be Entered?
The NJMLS requires listings for sale in the following categories be entered into the system within 24 hours after obtaining broker and owners’ signatures on the agreement: Residential (single family home), Condos/Coops/Townhouses, and 2-4 Family homes when those properties are in any town in Bergen, Passaic, and Essex Counties or in Kearny, Harrison, or East Newark in Hudson County.
What Should I Do When I Have a Signed Offer on My Listing?
For residential listings other than Co-ops, once a contract is signed by the Buyers and the Sellers, it should be marked in Attorney Review in the system within 24 hours from the date the contract is signed. Since real estate agents are not allowed to prepare a Co-op contract, a Co-op listing should be marked in Attorney Review when an attorney begins drawing up the contract and the buyer has been determined to meet the financial requirements of the Co-op.
Attorney Review Has Concluded. Now What?
When the attorneys for both the Buyers and the Sellers agree that the contract is satisfactory, they will conclude the Attorney Review period. Once that happens, you have 24 hours to make that status change in the system from ARIP (Attorney Review in Progress) to UC (Under Contract). For Co-ops, once the attorneys have drawn up the contract and it has been signed by all parties, the listing can be marked Under Contract-Board Approval Pending (UCBAP) if pending final approval by the Co-op board, otherwise the status can be changed to Under Contract (UC).
How Long Do I Have to Mark a Listing as Sold or Leased?
When a closing takes place or a tenant signs a lease, you have seven calendar days to mark that listing as either Sold or Leased.
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Reminder Regarding Reporting Agents Involved in a Transaction
Please remember when a transaction involves multiple agents, it is required that each of the agents involved is reported, as applicable, as a co-listing or co-selling agent if they are a licensed Realtor who is a member with NJMLS. You may report up to three additional co-listing and co-selling agents in addition to the primary listing or selling agent. Please see the complete rule, below:
Section 1.17
Listings with Multiple Listing/Selling Agents
Each Participant must list each Subscriber participating in the transaction in the appropriate co-listing or co-selling agent field in the MLS.
Participation is defined as the licensed Realtor® or Realtors® who is/are a Subscriber(s) to the Service and is/are the predominant interacting Realtor® or Realtors® with the client in the transaction. If more than one, all Subscribers must be represented as co-listing or co-selling agents. Participation is NOT defined as someone who provides only the following or similar services:
1) Administrative assistance in a transaction
2) Access to the property for an inspection
3) Preparation of paperwork
4) Coordination of showings
Please note: when a team is involved, please include the names of all registered team members who participated in the transaction, not just the team leader. Transactions for the team will be credited to the team and not to the individual participants.
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Open House Access
The purpose of a public open house is to allow public viewing of a property by all prospective buyers. As such, limitations or conditions should not be placed on visitors or you risk potential Code of Ethics, Fair Housing, and NJ Real Estate Commission violations. Remember, it is in the best interest of the seller to allow all prospective buyers to attend an open house. With this in mind, please avoid the following:
- Indicating that a potential buyer attending an open house must work with the listing agent. A buyer cannot be required to work with the listing agent; they have the right to work with a Realtor of their choosing.
- Indicating that potential buyers cannot be accompanied by their Realtor at the open house.
- Limiting who can attend an open house or the number of people who can attend. If a limit is required by the seller, open house advertising must specify that the open house visits are by appointment only and a method to make an appointment must be provided.
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Chat with Us!
Are you using the Chat Box found in NJMLS? This is an easy way to communicate with the our staff when you have a simple question or concern, and assistance is needed. When you're in the system, you'll see the chat icon on the lower right hand side of the page:
Click on the icon to open the Dialogue Box, type in your question, and hit the Enter button on your keyboard:
A staff member will answer your question as quickly as possible. Remember, this is a "live" chat, so you're communicating with a real person.
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