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|REC Advisory Notice Regarding Commission Splits (December 2005)|
On December 2, 2005 the Real Estate Commission received a written request from the New Jersey Association of Realtors (NJAR) to “stay this opinion letter and its enforcement until a full hearing can be held…at which NJAR, members of the real estate brokerage industry and the public can be heard…” NJAR specifically requested “that it be provided with an opportunity to give testimony at such a hearing…”
The Real Estate Commission considered this request at its meeting on December 13, 2005. At that time the Commission denied the request for a stay and invited the NJAR to submit a petition for rulemaking on which a public hearing could be held. The Commission also determined to issue an addendum to its November 29, 2005 Notice.
The addendum was approved by the Commission at its December 20, 2005 meeting and posted on this web page on that date.
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State of New Jersey
New Jersey Department of Banking and Insurance