Real Estate in New Jersey

The New Jersey Department of Banking and Insurance (DOBI) supervises the New Jersey Real Estate Commission. The Commission's headquartered in Trenton, New Jersey. It was created in 1921 to oversee real estate licensing within the state. New Jersey has approximately 83,850 real estate salespersons and 7,900 real estate brokers.

Requirements for Becoming a Real Estate Salesperson in New Jersey

You must be at least 18 years old and have a high school diploma or GED in order to qualify for becoming a real estate salesperson in New Jersey. You also need to successfully complete at least 75 hours of approved real estate courses, at least three of which need to be about professional ethics. You will also need to pass the real estate exams before applying for your license.

Requirements for Becoming a Real Estate Broker in New Jersey

You must be at least 18 years of age and have a high school diploma or GED to become a real estate broker in New Jersey. You must also finish 150 hours of approved real estate courses, and 30 class hours need to focus on ethics and ethical conduct. You will also need to have been employed as a real estate salesperson for the three years immediately before you apply, and must pass the real estate broker examination before being issued a license.

 

 

Additional Requirements

You absolutely must disclose any crimes, misdemeanors, criminal accusations, or child support problems. Also, you must state whether you have ever had a real state license revoked, suspended or denied in any state. You need to provide proof that you are either U.S. citizens or a permanent resident. You must apply for your examination and license within a year of completing of your education courses. New Jersey doesn't have any reciprocity agreements with any other states.

New Jersey real estate licenses are valid for two years. The renewal fee for real estate salespeople is $100.00 and for a real estate brokers the fee is $200.00. Many, but not all, forms are available online. Some must be obtained in person at the Trenton office.

You may consider strengthening your real estate career by joining one of 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 may help you locate real estate jobs. The Association of Real Estate License Law Officials and The National Association of Realtors, the world's largest professional association, can help further your real estate education and enrich you professionally.

If you have queries or concerns regarding real estate in New Jersey, contact an attorney in your area who can help you.

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