Maintaining a real estate license is one of the most important aspects of building a successful real estate practice. This is why it is essential that licensees thoroughly understand their states' license renewal processes and to also ensure that they satisfy all requirements. Let's review the NJ license renewal online requirements.
Requirements for NJ License Renewal Online
The New Jersey Real Estate Commission requires licensees to complete their NJ license renewal every two years. The current license term began July 1, 2017, and ends June 30, 2019. Licensees must also complete two steps to qualify for license renewal.
Step 1: Complete the Qualifying Questionnaire
Employing brokers, brokers of record, broker-salespersons, referral agents, and salespersons must complete the Qualifying Questionnaire and submit it online. They are also required to complete their own questionnaires. Accordingly, if they do not, then their brokers of record cannot submit their licenses for renewal. It is important to note two things:
- The questionnaire is a requirement for licensure, however, submitting it does not re-activate, reinstate, or renew a real estate license.
- Licensees should also only include information about themselves on their questionnaires.
Step 2: Complete Continuing Education (CE) Courses
Secondly, brokers of record, broker-salespersons, and salespersons must complete 12 credits of continuing education courses.
New Jersey Real Estate CE Requirements
The Commission makes online real estate training in New Jersey fairly simple, and licensees can choose one of two options to meet CE requirements:
- Complete 12 credit hours of continuing education courses. Six of these credits are derived from core courses, and at least two credit hours of core courses must cover ethics. The six additional credits can pertain to either core or elective courses.
- In addition, you can also complete at least one broker pre-licensure course.
The deadline for earning all continuing education credits is April 30, 2019, and licensees who do not meet this deadline are charged a $200 late fee.
Two factors can also impact a licensee's ability to renew a NJ real estate license online by June 30, 2019.
- It takes about 10 business days for the New Jersey Real Estate Commission to receive confirmation of continuing education credits from licensees' CE providers.
- New Jersey Department of Banking & Insurance must receive confirmation that all CE credits have been earned in time for licensees' brokers to renew their licenses by June 30th. If confirmation is not received by this date, even if all courses have been completed, then licensees will need to get their licenses reinstated.
Online Real Estate Courses NJ
New Jersey continuing education courses cover business, financial, legal, and professional topics, and there are currently eight core topics as well as nine approved elective topics.
- Fair Housing and New Jersey Law Against Discrimination
- Legal Issues
- Legal Requirements -- Escrow Monies and Financial Recordkeeping
- New Jersey Real Estate Broker and Salesperson Statues and Regulations
- State and Federal Environmental Laws/Regulations Pertaining to Real Estate
- Commercial Real Estate
- Foreclosure and Short-Sale Transactions
- Land Use
- Property Management
- Real Estate Sales Full Disclosure Act and Real Estate Timeshare Act
- Real Estate Valuation
- Seasonal Rentals
- Specific Aspects of Residential Real Estate Transactions
Although licensees can complete CE courses at New Jersey real estate schools, they can also complete CE courses online with continuing education providers like RealEstatece.com.
Core courses cover ethics, fair housing, agency, common mistakes, risk awareness, and disclosure. Elective courses discuss important aspects of real estate practice such as business planning, marketing, mortgage fraud, natural hazards, personal safety, property management, and valuation.
Recap of the NJ at Home Renewal License Process
Licensees have the convenience of completing a NJ license renewal online in four steps:
- Complete and submit the Qualifying Questionnaire.
- Take core and elective courses from approved CE providers to satisfy the continuing education requirement, however, you must ensure that two credits of courses meet the mandatory ethics training requirement.
- Complete CE courses in time for the New Jersey Real Estate Commission to confirm completion and the broker of record to also renew the license before June 30th.
- Ensure that the broker also submits the license for renewal.
In conclusion, licensees in search of a New Jersey real estate school to complete their continuing education courses should consider RealEstatece.com. In addition to making renewal of an online real estate license NJ less complicated, it provides the following advantages:
- A wide selection of core and elective courses
- Courses that satisfy all CE requirements
- An easily accessible education portal
- Six months to complete each course
- The flexibility of online study
- Affordable rates
Contact RealEstateCE today to learn more about their online NJ real estate continuing education courses.