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Welcome to the Gloucester/Salem Counties Board of Realtors website. We are currently in the
process of building an entirely new website to better serve our membership and the public. Please excuse our appearance during
this process.
YOUR NEW LEADERSHIP FOR 2010….
The GSCBOR would like to congratulate
our newly elected Officers and Directors for 2010:
President: JOSEPH MAROTTA
President Elect: PAMELA KOTTER
Vice President: JEFFREY TESSING
Directors 3 year term:
JOSEPH PINO
DEE WOOD
DAVID WRIGHT
Director 1 year term:
WILMOND GISMONDI
We congratulate them and thank everyone who took the time and effort
to vote during the election!
IMPORTANT INFORMATION
Please be advised that invoices for your 2010
Assessment Dues will be generated soon. It is ABSOLUTELY NECESSARY that we have ALL of your correct contact information
including your Company, Home Mailing Address & E-Mail Address.
If you have switched companies, changed your mailing address or e-mail address,
please notify the Board Office immediately.
Brokers: If you have had any new agents or transfers to your office, please
supply a list to the Board Office.
Everyone's cooperation is needed and appreciated. Invoices will be sent the
first week of December.
CONTINUING EDUCATION LEGISLATION
CLOSER...
On June 25, 2009, the New Jersey General Assembly
approved
A-3099, legislation that provides for mandatory continuing education (CE) for real estate brokers, broker-salespersons and
salespersons with an overwhelmingly bipartisan basis.
A-3099 will now be sent to the Senate Commerce Committee, where
it must be approved before the full Senate can vote and Governor Jon Corzine can sign the legislation.
FANNIE MAE CONFIRMS SHORT SALES
COMMISSIONS POLICY...
In discussions between NAR and Fannie Mae, Fannie Mae has reconfirmed
its short sale commission policy and established a process for REALTORS to follow if issues arise.
On February 24, 2009, Fannie Mae sent Announcement 09-03 to
its services instructing them not to negotiate commissions on short sales below the amount negotiated by the listing agent,
unless the commission exceeds 6 percent. The Announcement reminded servicers that third party approvals (i.e., private
mortgage insurers) may be required and can affect commissions.
In response to concerns raised by NAR that some servicers of
Fannie Mae loans are unaware of this policy or believe it is not binding, Fannie Mae has established a process for NAR members
when short sales commission issues arise.
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