Article Summary: This article will help anyone looking for information pertaining to a real estate license in the state of New Jersey or anyone looking to become a real estate agent or realtor in New Jersey. Contents of this article may include information on real estate education, schools, training courses, continuing education, tests and exams, laws, license requirements, renewal information, forms and more..
The New Jersey Department of Banking and Insurance (
DOBI)
oversees the
New
Jersey Real Estate Commission. The Commission, whose office is in Trenton,
New Jersey, was created in 1921 to administer and enforce the real estate licensing
law within the state. New Jersey has approximately 83,850 real estate salespersons
and 7,900 real estate brokers.
The requirements for a
real estate salesperson license in New Jersey include being at least 18 years of
age and having a high school diploma or GED. Salesperson applicants need to successfully complete at least 75 hours
of approved real estate courses, and at least three of these hours need to be about ethics and ethical conduct.
All salesperson applicants need to successfully pass the real estate exams before applying for their license.
The
requirements for a real estate broker license in New Jersey
include being at least 18 years of age and having a high school diploma or GED.
Applicants for the broker license need to complete 150 hours of approved real
estate courses, and thirty hours of these shall be on ethics and ethical conduct.
The Commission considers a waiver of some of the education courses under certain
circumstances. Broker applicants need to have been employed as a New Jersey real
estate salesperson for the three years immediately preceding their application,
and all applicants are required to successfully pass the real estate broker examination
before being issued a license.
The license applications for all real estate agents require full disclosure of
any crimes, misdemeanors, criminal accusations, child support problems, and whether
the applicant has ever had a real state license revoked, suspended or denied in
any state. Applicants need to provide proof that they are either U.S. citizens
or an alien lawfully admitted for permanent residence. Applicants must apply for
their examination and license within one year of completion of their education
courses. New Jersey does not have reciprocity agreements with any other states.
The approved prelicensure and continuing education
real
estate schools for salespersons, and the approved schools for brokers, are
listed online. The schools are located throughout the state for easy access.
New Jersey real estate licenses are issued for a two year period
that ends on June 30th, and license fees were increased effective April 1, 2004.
The renewal fee for real estate brokers is now $200.00 and for a real estate salesperson
the fee is $100.00.
Some
real estate
forms are available online, and others need to be obtained from the Commission
office.
Real estate careers are strengthened by membership in the many
organizations that provide services for the professional agent. Organizations
like the
New Jersey Association
of Realtors and the National Association of Real Estate Brokers (
http://www.nareb.com)
(NAREB) assist many in locating
real estate jobs within the industry. The
Association of Real Estate License Law Officials (
http://www.arello.org)
(ARELLO) and The National Association of Realtors (
http://www.realtor.org)
(NAR), the world's largest professional association, are excellent resources for
professional enrichment and real estate education.
We also offer information and resources for New Jersey Commercial Mortgage