Am I Eligible to get a Salesperson’s License?
There are eligibility requirements to become a NJ real estate agent. You’ll need to be at least 18 years old. Additionally, a high school education or equivalency is required and you must be a resident of the United States.
You must also be willing to undergo fingerprinting and a background check. The fee for this service is not refundable if you do not obtain your real estate license.
It is also important to know that New Jersey does not offer reciprocity with any other state regarding real estate sales licenses. This means that if you took the real estate course and passed an exam in another state, you are not automatically eligible to apply for a license in New Jersey.
Get Educated at a State Approved School
All New Jersey real estate agents are required to complete 75 hours of required pre-license courses to get a real estate license in New Jersey.
This coursework may be taken online or in person, and online classes are typically more affordable options than their brick-and-mortar counterparts. You will take quizzes and perform reading online to learn more about the real estate industry. These courses will help prepare you to take the licensing exam.
All coursework must be taken through a licensed institution. These institutions will be listed on the New Jersey Real Estate Commission and on The State of New Jersey Department of Banking and Insurance websites. If you do not attend a licensed institution, you will not receive credit for your hard work, and you will have to take the courses again.
In these courses, prospective real estate sales agents will learn about practices, principles, and laws as approved by the New Jersey Real Estate Commission. You will learn about housing ethics and discrimination as well as other industry related topics including how to price homes. In these courses, you will learn how to list houses and best practices for selling to different types of buyers.
The topics covered in the real estate pre-licensing courses will help you pass the New Jersey exam. You’ll learn be how to become a successful salesperson and many details about the real estate process in New Jersey.
The 75 hours of real estate pre-licensing courses will cover:
- Deeds and Leases
- Taxes, Mortgages, and Appraisals
- Ethics and Ethical Conduct
- New Jersey Laws and Regulations
- The New Jersey Real Estate License Exam
Your school will automatically notify PSI that you’ve completed your 75 hours of school required for you to get your NJ real estate license. Register for the state exam by visiting PSI Exams, schedule your exam, and pay the $45 exam fee. New Jersey real estate exams are offered every day of the week in many locations throughout New Jersey.
You’ll have to take and pass the New Jersey real estate examination within one year of completing your coursework.
There are 110 multiple-choice questions on the New Jersey real estate exam. To pass, you must get 56 questions correct out of the 80 questions are on the national portion. You’ll need 21 of the remaining 30 questions correct – these will be on state-specific topics. 70% or higher is a passing score.
You will receive your examination score report immediately after you complete the test. If you pass, you will be able to move forward in the process of obtaining your real estate license. If you do not pass, you will be eligible to retake the test.
What to Bring to the Exam
Review PSI’s requirements before you take the test. Plan to get to your testing center early to deal with traffic, parking, finding the location and checking in. You’ll need to bring:
- Two valid forms of ID, at least one must be government-issued
- Confirmation Code
- Course Documentation
- Two Pencils
When you arrive at the testing center, ensure that you bring your certificate of course completion. You also need to bring two forms of identification, one of which should have your photo on it. Both pieces of identification need to be current (not expired) and have your name. If you arrive with inadequate identification, you will not be able to take the exam. You may not bring food, drinks, cell phones, or personal items to the testing center.
Choose a Sponsoring Brokerage
Signing with a sponsoring broker is required by law in all states; legally, you have to associate your license with an established brokerage. All New Jersey real estate agents must work under a sponsoring broker. When deciding on the best real estate broker to work for, find out everything you can about them before making a commitment.
A sponsoring broker is required to sign your real estate licensing application before you send it in. A sponsoring broker will become a type of mentor who will give you the opportunity to work under their supervision as you learn the ropes of real estate.
Because you will be working with the sponsoring broker on a regular basis, it is important that you choose this person wisely. It is acceptable to contact and discuss the opportunity with several brokers in your area while deciding which broker to work with. Don’t hesitate to visit the office to see if the working environment is right for you.
Evaluate brokers based on their commission split, desk fees, training, brand recognition, and marketing efforts to promote agents. Look for a well-known brand that offers agents a generous commission structure with affordable desk fees, ongoing training opportunities for professional growth, and profit sharing.
Get Fingerprinted and Submit Your Application
Depending on your local office, it may take some time to get this appointment, so schedule your fingerprint appointment as soon as possible. In order to avoid problems and to make a timely filing, submit a live scan of your fingerprints quickly after passing the State examination. For information on fingerprinting, please visit: http://www.state.nj.us/dobi/division_rec/licensing/fingerprint06.html. The fee for fingerprinting is $66.05, payable when you schedule your appointment.
The New Jersey real estate license application must be submitted through your sponsoring broker. Provide them with all the required documentation and application fees, and your broker will submit your application online to the Licensing Services Bureau, Real Estate. If the application is not completed accurately and thoroughly, it may be either sent back to you or declined.
You must submit your application within a year of completing your 75 required hours of education. Your application will only be accepted if it is fully completed, along with the appropriate license fee and evidence of completing the fingerprinting process.
What you need to submit your New Jersey real estate license application:
- Universal fingerprint form
- A copy of your payment receipt issued by IDEMIA (fingerprint vendor)
- Application fee of $160
Based on the results of your background check, the New Jersey Real Estate Commission will determine the basis of your character. The commission has to be confident that you are honest and trustworthy since you will be handling financial transactions and other personal information. Your application may be denied if you are on probation or parole.
Once all of the correct documentation is submitted, it usually takes two to four weeks for your real estate license application to be processed.
Maintain Your Sales Person’s License with Continuing Education
In New Jersey, you must complete 12 credit hours of continuing education during each licensing term. Six of these credits must include coursework about core topics, including ethics. You may use the remaining six credits on electives allowing you to focus on a niche that interests you or that you think will help your real estate career.
A new career path as a real estate agent
The steps to receiving a New Jersey real estate license are very straightforward. If you are eligible to be a real estate agent in New Jersey, you just need to register for pre-licensing courses, pass the real estate license exam, choose a sponsoring broker, get fingerprints taken, and submit your application.
If you work hard and take the courses seriously, you should be able to pass the exam. In order to get your New Jersey real estate license, you will have to pay an exam fee of $45, a fingerprinting fee of $66.05, and a salesperson fee of $160.
New Jersey does not have reciprocity with other states. If you are a real estate agent or broker in another state, you cannot conduct business in New Jersey.
Other NJ Real Estate Licenses
- Broker’s License
- Applicants must have a high school education or equivalency and successfully complete 150 hours of prelicensure education to qualify for a broker’s license. You must complete a 90-hour general real estate course followed by two 30-hour courses on Agency/Ethics and Office Management and related topics. Applicants must also have been continually licensed and employed on a full-time basis as a New Jersey real estate salesperson for the three years immediately preceding their Broker’s license application.
- Broker-Salesperson’s License
- An applicant must first meet the licensing requirements of a real estate broker to become a broker-salesperson. A broker-salesperson has the qualifications of a real estate broker but is employed by and operates under the supervision of a licensed real estate broker to perform the functions of a real estate salesperson. If an applicant has ever been convicted of a crime or is currently on parole or probation his/her application for a real estate license may be denied.