Real Estate Licensing Requirements
HOW TO BECOME A REAL ESTATE AGENT IN NEW JERSEY
The New Jersey Department of Banking and Insurance (DOBI) oversees the New Jersey Real Estate Commission (REC). 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 93,000 brokers, broker-salespersons, salespersons and referral agents and approx 375 licensed real estate instructors as of 2017.
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.
Take the 75 hour pre-licensing class at an approved and licensed school. Career Path Academy is a licensed school approved by the New Jersey Real Estate Commission to conduct NJ real estate salesperson prelicensure courses, broker courses and continuing education classes to meet the real estate licensing requirements in New Jersey.
Course Topics covered, see course description
New Jersey real estate licenses are issued for two year periods that ends on June 30th.
License renewal fees for real estate brokers is $200 and for a real estate salesperson the fee is $100, the cost for new licensees is $160. The NJ Real Estate Commission website publishes the most recent nj real estate license fee schedule online here.
SALESPERSON LICENSING REQUIREMENTS
Attend the 75 hours license class program Waiver of Education Criteria for Salesperson
A 70% grade or more to pass the state exam of 110 Questions
A high school education or G.E.D. - Additional Education Q&A info
18 or older at the time of the exam
2 current forms of ID with a signature (one with a photo)
Get Fingerprinted (even if you recently were for another job must have redone)
New Jersey Does NOT have reciprocity with any state meaning you can't just transfer your license here.
(prior convictions, revocations of professional licenses, etc.)
Career Path Academy Real Estate School provides you with the requirements and knowledge to pass your New Jersey real estate licensing exam so you can begin your new exciting career as a real estate salesperson. We are here to help you get started on a path to a great rewarding career Full or Part time or to help you get licensed if you would like to start earning extra money as a referral agent where you don't actually work as an agent, just refer people who you know are looking to buy or sell real estate and then get paid when they enter into a transaction and close.
AFTER YOU FINISH SCHOOL AND PASS THE SCHOOL EXAM...
Other costs for initially getting your real estate license:
After completing school you have up to one (1) year from your graduation date to get finger printed and take the state licensing exam. After that you have up to one (1) year to activate your license with a real estate broker or you will have to restart the process to get your license again. An real estate salesperson and broker salesperson must be affiliated with a broker and cannot operate on their own independently of the broker whom is responsible for overseeing them. READ THIS NOTICE FROM NJ REAL ESTATE COMMISSION FOR GRADUATES
STATE EXAMINATION (After Passing School Exam)
Real Estate State Exam is conducted by PSI for a fee for each attempt (No Limit on attempts) See PSI testing booklet for more info info PSI Salesperson Candidate Information Page
Direct Link for PSI Candidate Registering to Take the State Licensing Exam
PSI Online Registration Support # 800-367-1565 Press 0
To Register by phone for your exam call: 800-733-9267
Cost of fingerprinting is $65.05 and you must get finger printed even if you recently were for other reasons. Fingerprinting is usually only good for 3 months.
Bring two forms of ID with at least one valid U.S. or Canadian Government issued photo ID.
Student must download the IdentGo NJ Universal Fingerprint form which will have codes on it needed to register for a fingerprinting appointment at the NJ REC fingerprinting instructions page
Schedule Finger printing service appointment link or call 1-877-503-5981
Initial State License Fee $160 (Good until June 30th odd year thereafter renewable for 2 years for $100)
EVERYONE's LICENSE is good through June 30th odd years after which it will expire if not renewed so if initially getting it and close to that date you may want to hold off a little.
1. Do you accept walk-ins?
2. How soon after passing the real estate exam must I apply for the issuance of my initial license?
3. What is the procedure for transferring my license to another broker?
4. How do I establish my own real estate company?
5. How do I obtain a license certification or license history?
6. I recently relocated my office. What does the Commission require?
7. How do I change my name on my license?
8. What should I do if my license has been lost?
9. How can a New Jersey salesperson become a New Jersey broker?
10. Can an employing broker withhold my license if I request that he release it to me in order to transfer to another broker?
11. How long can my real estate license be inactive?
12. What are the qualifications for a New Jersey Real Estate Broker's license?
13. What are the qualifications for a Real Estate Salespersons license?
14. What is the license period?
15. Are there any waivers of the education requirements?
16. How can I find a licensed school?
17. What are the New Jersey licensure requirements applicable to mortgage brokers?
1. How can I obtain a copy of the New Jersey real estate statutes and rules?
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?
3. If I have been arrested or convicted of a criminal offense, will it affect my license?
4. Can licensees use a contest or drawing to promote the sale property?
5. Can a bonus be paid directly to the selling agent?
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?
The REC publishes most but not all of their forms online here.
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 (NJAR) 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.
When starting out you will find that as soon as you affiliate with a real estate broker to activate your license you will need to become a member of your offices primary Multiple Listing Service (MLS). Here is a list of all NJ MLS' in New Jersey and a usual standard requirement of most MLS's are to be a Realtor which means you are a member of the National Association of Realtors as well as a member of the state organization New Jersey Association of Realtors (NJAR) and a local Realtor organization board chapters. They usually combine registration fees for these three organizations into one annual payment.