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Home > NJ Real Estate Estate Commission > Real Estate FAQs
Real Estate Frequently Asked Questions
 
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Licensing FAQs


1. Do you accept walk-ins?

Licensing applications are processed on a "first-in/first-out" basis. Therefore, the Licensing Bureau will accept, but cannot immediately review or service walk-in applications. Persons who wish to drop off an application may do so at the reception desk on the 8th floor of the Commission's office at 20 West State Street, Trenton, NJ. If there is an error or a question about the application, you will be notified within ten (10) business days. APPLICANTS SHOULD NOT CALL THE COMMISSION DURING THIS TIME. Depending upon the volume of work pending at the time of the Commission's receipt of it, the processing of a complete and correct application related to a salesperson or broker/salesperson license may take from two to four weeks. Applications related to broker licenses (sole proprietors, business entities and brokers of record) are generally processed within two (2) weeks.

2. How soon after passing the real estate exam must I apply for the issuance of my initial license?
All applicants must apply for the issuance of their initial license WITHIN ONE YEAR FROM THE DATE OF COMPLETING THE REAL ESTATE PRELICENSURE COURSE.

3. What is the procedure for transferring my license to another broker?
Licensees in Inactive/Terminated Status may transfer to a new broker. To be inactivated/terminated, you must submit a formal letter of resignation to your current broker, and your current broker must inactivate/terminate your license via the New Jersey Real Estate Online Licensing Services (www.recbrokers.nj.gov)

Once inactive/terminated, your license may be electronically transferred by your new broker via the New Jersey Real Estate Online Licensing Services at www.recbrokers.nj.gov.  The $25 transfer fee may be paid via e-check or company credit card.

Or, the licensee and new broker of record may submit a paper transfer application.  The paper method will take longer than the electronic method, and will delay your transfer.

The paper application must be submitted to the New Jersey Department of Banking and Insurance, Real Estate Licensing Section, with a broker’s business check, money order, or certified check in the amount of $25, made payable to the “State Treasurer of New Jersey.”

4. How do I establish my own real estate company?
If you wish to apply for a corporate broker's license, sole proprietorship, partnership, or limited liability company, contact the Commission at (609) 292-7272 for appropriate forms and instructions.

5. How do I obtain a license certification or license history?
Submit a written request to the New Jersey Real Estate Commission, PO Box 328, Trenton, New Jersey 08625-0328. Your request must be accompanied by $25.00 for a current certification of license status, or $50.00 for a license history (Personal checks are not acceptable. Payment must be by certified check, cashier's check, or a money order, made payable to the Treasurer, State of New Jersey.)

6. I recently relocated my office. What does the Commission require?
A Change Of Address form must be completed. All licenses must be returned accompanied by an appropriate fee. To request a form, call (609) 292-7272.
Note: For a change of residence address, please submit a letter indicating new residence address, home telephone number, and license reference number.

7. How do I change my name on my license?

All licensees must be licensed in their legal names.  The “Application for Reinstatement/Transfer/Name Change” is located in the real estate section of the Applications and Forms area of the DOBI website.

Please complete the appropriate application and sign it using your new name.  Please attach a copy of your marriage certificate, a legal document from the court that states you may legally change your name, or a copy of your divorce decree bearing the County Clerk’s seal.  If you submit a copy of your divorce decree, the first page of the decree and the page that states you may resume your former name is required. You must submit the $50 name change fee via a broker’s business check, money order, or certified check made payable to the “State Treasurer of New Jersey”.

After the change has been entered into the Real Estate Licensing database, the new name is viewable on the Licensee Search. At that point, a new pocket card id reflecting the new legal name may be printed by the licensee at www.reconline.nj.gov
.

8. What should I do if my license has been lost?
Have your employing broker submit a written or faxed request for a duplicate license to the Commission. Fax number (609) 292-6765. There is no charge for this request.

9. How can a New Jersey salesperson become a New Jersey broker?

Requirements for becoming a broker in New Jersey are as follows:
  • You must be a licensed salesperson in New Jersey and have worked as such on a full-time basis under the direction of a broker for the 3 full years immediately preceding application. You are required to take 150 hours of broker prelicensure education. The 90 hour broker general course must be completed first. Thereafter, the 30 hour Agency/Ethics course and the 30 hour Office Management/Related Topics course may be taken in any order.
  • Upon successful completion of the courses, the applicant must submit a fully executed school certificate, Experience Activity Report(s) completed by the broker(s) the applicant has worked for during the last 3 years, and a $25.00 processing fee (No personal checks accepted) to the Commission for approval. If approved, a Certificate of Examination Eligibility will be issued which will allow the applicant to make a reservation to challenge the broker examination. Applicants must pass the examination and make application for a license within one year of completing the second 30 hour course.

10. Can an employing broker withhold my license if I request that he release it to me in order to transfer to another broker?
No. The licensee's current broker MUST deliver the license, properly inscribed for termination, to the licensee. The broker must also send the Notice of Termination section to the Commission within five business days, and send a copy of it to the licensee's residence address. N.J.A.C. 11:5-3.11(b).

11. How long can my real estate license be inactive?
N.J.S.A. 45:15-9 provides that Real Estate licenses can be inactive for 2 years after the expiration date of the last license issued. To reinstate your license, your application must be completed by a currently licensed Real Estate Employing Broker.

12. What are the qualifications for a New Jersey Real Estate Broker's license?
First, you must have worked under the direction and guidance of a currently licensed Employing Broker, on a full-time basis, at least 3 full years immediately preceeding your application.

Secondly, you must have successfully completed 90 hours of Broker's pre-licensure courses and two 30 hour courses on office management and ethics/agency. These two 30 hour courses must be at an licensed New Jersey Real Estate School.

And, thirdly, you must pass the New Jersey examination. If you applied for a Broker license, please allow the Real Estate Commission 30 business days to process the paperwork. Questions regarding your application cannot be answered during this processing period.

13. What are the qualifications for a Real Estate Salespersons license?
To qualify for a Real Estate Salespersons license you must be at least 18 years old, have a high school education or equivalency, complete a 75 hour pre-licensure course at a licensed school and pass the New Jersey examination. After passing the examination, you must apply for a license through a sponsoring Employing Broker within 1 year from the expiration of the school certificate or you must again complete all requirements.

14. What is the license period?
Effective July 1, 1997, all real estate licenses are issued on the basis of a 2-year license term. Renewal notices are sent to the employing broker's office. If you need to receive a duplicate renewal notice, notify the Real Estate Commission in writing. Your request should be addressed to: Mary Vargas, New Jersey Real Estate Commission, PO Box 474, Trenton, NJ 08625-0474.

15. Are there any waivers of the education requirements?
If you are a Broker or Salesperson in another state, a disabled veteran, an attorney, have taken college courses in Real Estate, or have a degree in real estate, you may qualify for an education waiver. To obtain either a Broker or Salespersons education waiver package, click here for Waivers/Experience Reports.

16. How can I find a licensed school?
View the list of licensed schools.

17. What are the New Jersey licensure requirements applicable to mortgage brokers?
Persons and firms engaged in the business of brokering residential mortgage loans for compensation must be licensed by the Department of Banking and Insurance. The New Jersey Licensed Lenders Act, NJSA 17:11C-1 et seq., requires the licensure and regulation of mortgage bankers, correspondent mortgage bankers, and mortgage brokers relating to the solicitation, brokering and origination of residential first mortgage loans on New Jersey property. Similarly, licensure is required for the origination of secondary or subsequent mortgage loans on residential property to consumers. The law defines a first mortgage loan to be any loan secured by a first mortgage on real property containing a one to six family dwelling, a portion of which may be used for a non-residential purpose. Similarly, a second mortgage loan is defined as such a loan on real property which is subject to one or more prior mortgages. Licensing and regulation under this statute are administered by the New Jersey Department of Banking and Insurance, Division of Banking. An individual licensed as a New Jersey real estate broker, broker-salesperson or salesperson is not, by virtue of being licensed, authorized to engage in the residential mortgage brokerage business. For more information on the licensure requirements applicable to residential mortgage brokers, please contact the Licensing Services Section within the New Jersey Division of Banking at (609) 292-7272.

Persons and firms who broker loans secured by mortgages on commercial real estate for compensation must be licensed as New Jersey real estate brokers. Individuals licensed as a real estate broker-salesperson or salesperson may engage in such activity, but only if it is done under the authority of and through the brokerage firm with which they are licensed. Like all other real estate brokerage activity, a broker-salesperson's or salesperson's compensation for such activity must be paid by the broker through whom they are licensed, rather than by a party to the commercial mortgage transaction.

For more information on the requirements of licensure as a New Jersey real estate broker, broker-salesperson or salesperson, see below.

Compliance FAQs


1. How can I obtain a copy of the New Jersey real estate statutes and rules?

Complete this form.

2. I had my buyer sign the Consumer Information Statement and we checked off the box that says I'm acting as a buyer broker. Is this enough?
NO. The CIS is not a buyer agency contract. Just as a listing agreement creates the relationship of a seller's agent, there must be an agreement which creates the relationship of a buyer's agent. That agreement should be in writing and should contain necessary terms such as a description of the services to be provided, the duration of the relationship, the amount and method of compensation, etc.

3. If I have been arrested or convicted of a criminal offense, will it affect my license?
Yes, it may. You must notify the Commission of any arrest, indictment or conviction within 30 days. A failure to do so will subject you to penalties. N.J.S.A. 45:15-17(s). The notification should be made in writing. Whether or not any additional action is taken will depend on the type of crime at issue. For example, N.J.S.A. 45:15-19.1 requires that the Commission revoke a license when a licensee has been convicted of certain offenses, including theft and related offenses. N.J.S.A. 45:15-19.2 allows the Commission the discretion to suspend a license if a licensee is indicted for certain types of crimes, including theft and related offenses. Licensees should review these laws for further guidance on this issue.

4. Can licensees use a contest or drawing to promote the sale property?
NO. N.J.S.A. 45:15-17(g) prohibits licensees from using any plan, scheme, or method for the sale or promotion of the sale of real estate which involves a lottery, a contest, a game, a prize, a drawing or the offering of a lot or parcel of lots or parcels for advertising purposes.

5. Can a bonus be paid directly to the selling agent?

Pursuant to N.J.S.A. 45:15-16, any compensation paid to a salesperson must be paid through their employing broker. Therefore any bonus offered by a seller or listing firm to selling salespersons with cooperating firms must be paid to the selling salesperson's broker. The disposition of the bonus will then be governed by the terms of the employment agreement between that salesperson and broker.

 

Marketing of Out-of-State Developments FAQs


1. What types of out-of-state real estate must be registered under the Real Estate Sales Full Disclosure Act?

See Subdivided Land Sales FAQs.

Updated August 2014
 
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