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Real Estate Frequently Asked Questions

 

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Please click a question below to find out the answer:
Questions
1) What are the requirements to become a New Jersey Real Estate Agent?
2) What does a Real Estate Agent do?
3) How long is the real estate salespersons course?
4) Is there a test?
5) How does a real estate license become active?
6) What is required to maintain a license?
7) What is the fee to apply for a license?
8) What is the difference between a licensed Real Estate Broker and Agent?
9) What are the requirements to become a broker?
10) What other courses could I take that would assist me with my real estate career?
   
Answers
   
1) What are the requirements to become a New Jersey Real Estate Agent?
 

To become a New Jersey Real Estate agent you must:

Be at least 18 years of age
Have a high school diploma or equivalent
Not have been convicted of a felony or crime involving moral turpitude
Complete and pass the state approved 75 hour Pre-License course or equivalent board approved qualifications
Pass the state exam with at least a 70%
Submit application with appropriate fees through sponsoring broker
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2) What does a Real Estate Agent do?
 

A Real Estate agent is a person licensed by a state to represent a buyer or seller in a real estate transaction in exchange for a commission. Unless they are also brokers, agents must work in association with a real estate broker or brokerage company.

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3) How long is the real estate salespersons course?
 

The course is a total of 75 hours, which is the minimum mandated by the state.

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4) Is there a test?
 

Yes. This course requires a school exam. After passing the test you will be eligible to set an appointment to take the State exam to become licensed. The state exam must be passed with a grade of at least a 70%. The fee for the state exam is $60.00.

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5) How does a real estate license become active?
 

In order to have an active real estate license you must be affiliated with a sponsoring broker.

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6) What is required to maintain a license?
  PENDING REVIEW
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7) What is the fee to apply for a license?
 

The initial fee to apply for a real estate license is $160.00 for a salesperson license and $270.00 for a broker’s license.

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8) What is the difference between a licensed Real Estate Broker and Agent?
 

Most states require real estate sales professionals to be licensed by the state, so that they can control education and experience requirements and have a central authority to resolve consumer problems. The terminology used to identify real estate professionals varies a little from state to state. Brokers are generally required to have more education and experience than real estate salespersons or agents.

The person you normally deal with is a real estate agent or salesperson. The salesperson is licensed by the state, but must work for a broker. All listings are placed in the broker's name, not the salesperson’s name. A broker can deal directly with home buyers and sellers, or can have a staff of salespersons or agents working for him or her.

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9) What are the requirements to become a broker?
 

To become a broker in the state of New Jersey you must:

Be at least 18 years of age
Have high school diploma or GED
Not have been convicted of a felony or crime involving moral turpitude
Complete and pass the state approDved 150 hour Broker Pre-License course this includes a 90 hour general real estate course and two 30 hour courses on Agency/Ethics and Office Management and related topics
Have been employed at least 3 years full-time basis as a New Jersey real estate salesperson
Submit application with appropriate fees
Pass the state exam with at least a 70%
Apply for licensure either under a broker as a broker salesperson or apply as a sole proprietor, employing broker, broker of record of a licensed corporation or partnership
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10) What other courses could I take that would assist me with my real estate career?
 

AREA’s Home Inspection and Appraisal courses will help you expand your knowledge and help you better serve your clients when you are out on the field. We offer both of these courses in online format are always happy to welcome back past students

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