7 FAQs for New Real Estate Agents in New JerseyPDH Staff
When you consider a career in real estate, you are awarded many options. If you intend to become a real estate agent in New Jersey, you may have questions specific to your state of interest.
This guide will answer some of the most commonly asked questions by potential and new real estate agents in your state.
1. What Are the Requirements for Becoming a New Jersey Real Estate Agent?
New Jersey real estate agents are required to be at least 18 years old and hold a high school diploma or its equivalent. You must also complete a 75-hour pre-licensing course at a state-approved school. Finally, you must pass the real estate license exam, which has state and national components.
2. Does New Jersey Offer License Reciprocity with Other States?
No. New Jersey does not have any reciprocal agreements with other states. This means that if you have a real estate license in another state, you must still complete all licensing requirements in New Jersey.
3. How Do New Jersey Real Estate Agents Renew their Licenses?
New Jersey has a two-year licensing period. During this time, all real estate agents are required to complete 12 hours of continuing education coursework. There are two options for this coursework.
The first option allows real estate agents to take courses that break down to two hours of ethics, four hours of core courses, and six hours of electives. The second option allows for 12 hours of real estate ethics coursework.
4. What Happens if a Real Estate Agent Fails to Complete Renewal Requirements?
New Jersey real estate agents who fail to complete the respective renewal requirements by the deadline become inactive real estate agents.
In order to begin working as real estate agents again, these individuals are required to reinstate the license. You are allowed to have an inactive license for two years.
5. What Happens if You Lose Your Real Estate License?
If you lose your real estate license as a New Jersey agent, you are required to notify your employing broker. He or she must then submit a request for a duplicate license through the New Jersey Real Estate Commission via fax or mail. The commission will send you a new license at no additional cost.
6. What Are Character Requirements for Becoming a Real Estate Agent in New Jersey?
In order to become a real estate agent, you are required to meet certain character requirements. According to the real estate commission, you are required to possess good character, honesty, and a trustworthy reputation. You are also required to submit your criminal history on a regular basis. Licensure is not permitted for any individual who has convictions including theft, robbery, forgery, or burglary within five years before applying. It is important to be honest about your criminal history, as lying could also prevent you from obtaining your real estate license.
Finally, make sure to keep up with your continuing education requirements. This means that you will never find yourself behind on meeting renewal requirements. Contact us for more information about meeting your continuing education requirements.