It is with great pleasure that the New Jersey Department of Banking and Insurance announces the implementation of a new online capability for the processing of Real Estate Salesperson and Real Estate Broker-Salesperson transfers and terminations.
Real Estate Licensing Bureau staff currently receives and processes in excess of 2,000 manual transfers and terminations each month.
The online application will permit licensed Real Estate Brokers, both Brokers of Record and Employing Brokers, to terminate individual Real Estate Salespersons and Broker-Salespersons over the Internet. Brokers will also be able to transfer eligible Real Estate Salespersons and Broker-Salespersons to their company through an online process that will involve payment of required fees with a credit card or an electronic check.
The new online process will make the completion of these transactions easier and faster. Confirmation of the successful completion of a termination or a transfer will be provided immediately via e-mail to the e-mail address provided by the broker. Terminations and completed transfers will be able to be viewed on the NJDOBI Licensee Search page available on the Department’s web site the day following the completion of the online transaction.
For full information concerning the steps necessary to establish an entitlement to use the online system and to access the application via the New Jersey State web site, go to: – www.state.nj.us/dobi/division_rec/xfers.html
We strongly encourage you to utilize this new system to complete your Salesperson and Broker-Salesperson terminations and transfers. We plan to continue to develop additional online features that will improve the license processing and expedite the issuance of licenses for the New Jersey real estate industry. We welcome your comments.
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