The Most Frequently Asked New Jersey Real Estate Career Questions

• Complete 75 Hours of Approved Pre-Licensing Education. To start, you must successfully complete an approved 75-Hr. Pre-Licensing course. This can be completed online.

• Pass the Course Final Exam. After you complete all course materials, meet the minimum time requirement, and pass the practice exam, there is a course final exam. To pass, you must get at least a 75% on the course final exam.

• Pass the New Jersey State Licensing Examination. The New Jersey salesperson real estate licensing exam is administered by PSI, and you can schedule the exam right from their website.

• Submit Your Fingerprints for a Background Check. You must submit to a criminal history background review by completing the fingerprinting process known as Live Scan. For more information about the process, click here.

• Find a Sponsoring Broker. Before you can submit your application, you need to be sponsored by a current and active New Jersey broker. It's important to find the right broker to work with, since this person will serve as your mentor as you start your new career in real estate.

• Complete and Submit Your Application. 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. For more information, click here.

You must take and pass 75 course hours from an approved education provider to get a salesperson license in New Jersey. If you treat your education like a 40-hour workweek, you can finish your education in as little as two weeks.

• Your Pre-Licensing education in New Jersey costs about $399

• The initial license fee for a New Jersey salesperson is $160.

  • Note that the $160.00 fee** includes:

    • License Fee: $100

    • Application Fee: $50

    • Guaranty Fund: $10

• The criminal history record check fee is $66.05.

• The PSI examination fee is $38.

*Note that Licensing Fees are subject to change.

The State of New Jersey says you must be at least 18 years of age or older to get your New Jersey Salesperson license.

All real estate license applicants are required by law to possess good character, trustworthiness, honesty, and integrity. Consequently, all applicants for licensure must submit to a criminal history record check.

All applicants are required to answer screening questions about their criminal history. New Jersey specifically prohibits licensure to anyone who has been convicted of:

• Forgery

• Burglary

• Robbery

• Any theft offense other than shoplifting

• Criminal conspiracy to defraud,

• Other similar offenses within 5 years preceding their application for licensure

• Convictions for shoplifting or other offenses that occurred more than five years ago

• The loss of a real estate or other professional license

Any of these crimes may constitute grounds for the denial of a license.

The Commission considers the date and nature of all convictions and other indicia of your character, honesty, trustworthiness, and integrity when evaluating an applicant’s qualifications for licensure.

The PSI examination fee for the New Jersey Salesperson Exam is $38.

The New Jersey Real Estate Commission (NJREC) does not offer formal licensing reciprocity. However, if you’re a salesperson licensed in another state and wish to sell real estate in New Jersey, you can expedite the process.

To see if you qualify for pre-licensing education credit, you’ll first need to complete the Salesperson Education Waiver Application. New Jersey will review your pre-licensing education history and determine how much additional education (if any) you’ll need. Some applicants can waive the education portion, while others may need to take supplementary courses (often less than the 75-Hour New Jersey requirement).

Continuing Education must be completed by April 30th of odd-numbered years.

You must renew your license every June 30th of odd-numbered years.

In order to qualify for renewal or to reinstate an unrenewed license, every salesperson must complete a minimum of 12 hours of CE.

To qualify for renewal or to reinstate an unrenewed license, brokers and broker salespersons must complete 12 hours of CE.

Salespersons initially licensed in the FIRST year of the NJ real estate license term ARE REQUIRED to complete CE requirements in order to renew their license for the next term.

However, salespersons initially licensed in the SECOND year of the NJ real estate license term are not required to fulfill any continuing education to renew their license upon the conclusion of that license term.

You don’t have to report your CE yourself. Real estate course completions are reported to the New Jersey Real Estate Commission through PSI. The state requires schools to report course completions within seven to ten days from the course completion date. Course completions will be reported and posted within this time frame.

However, it's a smart idea to get proof of your completion of a course that is required to be supplied to you by the course provider - JUST in case any questions arise regarding your course and earned CE credits.

You can do a LOT with a Broker license in New Jersey, including:

• Help clients sell, lease, and buy properties

• Establish and manage your own real estate brokerage firm

• Supervise and hire other salespersons to work for you

• Become a property manager

One of the biggest advantages you have as a broker is the ability to hire other salespersons to work for you – which can be financially rewarding!

Yes! To start your own business, you’ll need a Broker license. Then, you’ll be able to hire other salespersons to work for you. You’ll make a commission on every transaction that your salespersons complete.

To get broker's license, you need to:

• Complete 150 Hours of Broker Pre-Licensing Education. You must complete your Pre-Licensing coursework before you can apply. This includes three courses: a 90-hour general real estate course, and two 30-hour courses on Agency/Ethics and Office Management.

• Work as a Salesperson For Three Years. You must have been working as a licensed real estate salesperson in New Jersey for the past three years full-time.

• Send Any Required Documents. Once you finish all the courses, you need to send your course certificate and an Experience Report For Broker Applicants to the Education Qualification Section of the Commission. After they approve everything, they'll send you a Certificate of Examination Eligibility.

• Book Your Exam. Your last step is to book your broker license exam with PSI. You must pass the exam and apply for your broker or broker salesperson license within one year of finishing your training.

According to Indeed, New Jersey brokers make an average salary of $56,006. However, some salaries are as high as $116,596, depending on your education and how long you’ve been a broker.

*March 2024 Data