Are you wondering how to get a real estate license in New Jersey? New Jersey’s real estate boom means it’s a great time to start your career. Learning how to become a real estate agent in New Jersey can help you diversify your income and give you autonomy over your schedule.
We’ve broken down every step you’ll need to figure out how to get a real estate license in New Jersey. Before you know it, you’ll be on your way to a fulfilling career.
Step 1: Meet the Qualifications
Step 3: Find a Broker of Record
Step 5: Apply for a License
How Much Does It Cost to Get a Real Estate License in New Jersey?
It will cost you between $576 and $676 to get your New Jersey real estate license. The biggest expense will be your prelicensing course, which can vary by school. After you’ve passed the course, you will need to pay for the license application and a fee for a fingerprinting process.
New Jersey Real Estate License Costs
|New Jersey Real Estate Salesperson Application||$160|
|LiveScan Fingerprinting Process||$66.05|
Step 1: Meet the Qualifications
If you’re looking to find out how to become a real estate agent in NJ, you’ll need to make sure you qualify for the license. The New Jersey Real Estate Commission requires you to:
The New Jersey Real Estate Commission (REC) emphasizes the importance of candidates’ integrity. Once you’ve passed your license exam, you’ll need to answer a series of screening questions, complete a criminal record check, and complete the fingerprinting process. Applications will not be accepted without all three included in the application.
Step 2: Take the New Jersey State Prelicense Course
You’ll need to take 75 hours of prelicense courses from a licensed New Jersey real estate school. The REC keeps an updated list of licensed real estate schools that offer prelicense courses. Many of the listed schools offer in-person classes that run full-time during the week or part-time during the evenings.
If you’re looking for in-person classes, you can check the REC list to find a school closest to you. The REC list of licensed schools also includes courses that are offered online for your convenience. You’ll need to pass your prelicense course to apply for your New Jersey real estate license.
Here’s an idea of what you can expect from an online prelicense course to qualify for your New Jersey real estate license. For instance, Real Estate Express offers a comprehensive course with livestream lectures. Look for courses that offer extra exam prep, study materials, and access to instructors for extra help if you need it.
Step 3: Find a Broker of Record
Congratulations, you’ve passed your prelicense course. Before you can take you state real estate license exam, New Jersey requires you to have a brokerage sponsor, which means you’ll have to find a broker of record in New Jersey who can sponsor you and apply for your license on your behalf.
Check out What’s the Best Real Estate Company to Work for? to learn about some of your options.
Don’t be intimidated by the prospect of having to find a broker to sponsor you. Brokers in New Jersey are familiar with this process and willing to take on salespeople. They’re often eager for more help and potential salespeople to add to their team.
You’ll need to contact a brokerage, explain where you are in the process of obtaining your license, and ask them if they are willing to be your sponsoring broker. To help you get started, US Bank List details all the brokerages by city in New Jersey.
Step 4: Apply for & Take the License Exam
You have one year from the end of your prelicense course to apply for and take the license exam. PSI Services delivers the exam, and you can take the exam either remotely or in person at one of the PSI Services testing centers across New Jersey.
You’ll need to schedule your remote or in-person exam online through PSI Services. Now, it’s time to study for the exam. Your prelicense course should give you the confidence to pass the license exam. All of the licensed prelicense schools also offer additional test prep. If you need more study materials or practice tests, you can also buy them through PSI Services.
When you take the state license exam, you will need to answer screening questions about your qualifications. This is required to apply for and receive your New Jersey real estate license.
Screening questions will ask you about your criminal history, if any, as well as whether you have held a previous real estate license. After you pass your license exam, you’ll be asked to sign and confirm that your answers to the screening questions are accurate. The signed form is a part of your real estate license application.
[Related article: 7 Hacks for the Real Estate Practice Exam]
Step 5: Apply for a License
What you need to apply for your license:
As part of your application, you’ll have to complete a fingerprinting process and pay the fee. Here’s how the fingerprinting process works:
- If you live or work in the state of New Jersey, your fingerprinting must be done at one of the IDEMIA LiveScan fingerprinting locations. If you live outside New Jersey, you need to contact the REC.
- Complete the LiveScan fingerprinting Universal Form. Schedule an appointment for your fingerprinting online or by phone.
- Pay the fee ($66.05) and keep the receipt for your license application.
- Arrive at your fingerprinting location with your universal form, receipt of payment, and a photo ID.
You and your sponsoring broker both have parts to play in applying for your real estate license. Your sponsoring broker can submit and pay for your license application online. The fee for the real estate salesperson license is $160. You’ll need your personal information to fill out the application form, as well as the applicant ID from the scorecard on your license exam and proof of completion of your prelicense courses.
Once you and your sponsoring broker have applied for your New Jersey real estate license, you will get your approval status by email. The REC makes your real estate license available for download as a PDF for your convenience.
New Jersey Real Estate License FAQs
Now that you’ve learned more about how to get a NJ real estate license, you may have more questions. The Close is here to help! We’ll cover questions related to costs, time commitment, earnings, pass rates, exam prep, reciprocity, and more.
How long does it take to get my New Jersey real estate license?
On average, it takes people three to six months to get their New Jersey real estate license. How long it takes will vary depending on how long your prelicense course takes and how long you need to prepare for the exam. You can complete prelicense courses in as quickly as two weeks if you go full-time, and you’re able to apply for the license exam immediately after passing your prelicense course.
How much do real estate agents make in New Jersey?
The average income of real estate agents in New Jersey is between $75,000 and $95,000 a year. There’s no limit on your potential income as a real estate salesperson.
What is the pass rate of the New Jersey real estate license exam?
Sixty-three percent of candidates will pass the license exam on their first try.
How can I prepare for the license exam?
You can review the course materials from your prelicense course, and you can also prepare with additional exam study materials. Readers can save money using Real Estate Express or Mbition to prepare for the NJ real estate license exam. Both offer great test prep packages to make sure you feel confident on exam day.
How is the license exam formatted?
The New Jersey real estate salesperson exam consists of 110 questions, and you have four hours to complete it.
What if I already have my real estate license from another state?
If you are a real estate salesperson in another state, you may be exempt from the prelicense course requirements. You can complete the waiver for education experience from the REC. You can learn more about license portability and reciprocity in Real Estate License Reciprocity & Portability: A State-by-State Guide.
Can I become a real estate agent in New Jersey without taking a prelicensing course?
Yes, you can get your real estate license in New Jersey by filling out the waiver of education experience if you:
- Hold a valid real estate license in another state
- Have a bachelor’s degree or associate degree in real estate
- Have a valid real estate broker license in any state
- Are a practicing attorney-at-law in any state
What do the screening questions ask?
The screening questions include asking a candidate whether they have been criminally charged, if they have ever had a professional license revoked, or whether you currently hold a valid license in another state.
More Career Resources From The Close
Now that you’ve learned how to get a real estate license in New Jersey, we hope you’ll pursue this exciting new career and be successful. We are here to help you every step of the way, from getting your license to closing your first deal, and beyond.
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