New Jersey Real Estate Requirements
Article Summary: This article will help guide someone looking to complete the steps to obtain a real estate license in New Jersey. Summaries below include insight into the governing agency, education, examination, renewal and more..
The New Jersey Real Estate Commission’s office is located in Trenton, New Jersey. The Commission was created in 1921 by the New Jersey Department of Bankingand Insurance (DOBI). They establish standards of practice and regulate and enforce the real estate licensing laws within the state.
The first basic requirements in order for one to obtain their real estate salesperson license in New Jersey is being at least 18 years old. In addition, completion of high school or the equivalency is necessary. Each applicant is required to undergo fingerprinting and a background check. Before licensure, the Commission uses the background check to conclude if each individual is honest and trustworthy.
In the state of NJ, the pre-licensing coursework includes a completion of 75 hours of pre-licensing approved coursework either online or in person. The approved institutions are listed on the Commission’s website.
The next step after coursework is complete, is to take and pass the New Jersey real estate exam within one year. Pearson VUE is the company that administers the exam and one can reserve a spot and pay necessary fees online.
A sponsoring broker is required to sign an applicants real estate licensing application before being sent in. In order to maintain a license, NJ mandates 12 credit hours of continuing education in each two year licensing term that ends on June 30th. (six credit hours are in core topics and six credit hours are electives).
Applicants for a broker license must complete 150 hours of approved real estate courses consisting of 90 hours of general education and also two 30-hour courses on Agency/Ethics and Office Management and similar topics. One is required to have been employed by a NJ real estate salesperson for the three years and successfully pass the real estate broker exam before being issued a broker license.