Are you wondering how to get a real estate license in New Jersey? The process is relatively simple and begins with a 75-hour prelicensing course. You must be at least 18 years old and have a high school diploma to be eligible to get your license. Check out our step-by-step guide to get started and before you know it, you’ll be on your way to a fulfilling new career.
1. Complete a 75-hour Prelicensing Course
First, you’ll start by completing a 75-hour prelicensing course from a New Jersey real estate school. The New Jersey Real Estate Commission (REC) keeps an updated list of licensed real estate schools that offer prelicensing courses. Many of the listed schools offer in-person classes that run full time during the week and 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 prelicensing course to apply for your New Jersey real estate license.
Here’s an idea of what you can expect from an online courses that will help you prepare for your New Jersey real estate license. For instance, Colibri Real Estate 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.
Readers of The Close can save 25% on prelicensing classes from Colibri Real Estate by using promo code TheClose25.
5 Best New Jersey Real Estate Schools for 2023
2. Find a Broker to Hire You
Once you’ve completed your prelicensing course but before you can take the New Jersey real estate license exam, the state 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.
If this process is new to you, rest assured that New Jersey brokerages are familiar with sponsoring new agents and are frequently willing to take on new recruits. After all, you’ll be a valuable addition to their real estate 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.
What’s the Best Real Estate Company to Work for?
3. Pass the New Jersey Real Estate License Exam
Cost:
$45
Time to Complete:
4 Hours
Format:
Computer-based, 110 Multiple-choice Questions
Passing Grade:
70%
Bring to the Testing Center:
Two Valid Forms of ID (One With a Photo)
You’re now ready to take your New Jersey real estate license exam. You have one year from the end of your prelicense course to apply for and take the exam. You can take the exam either remotely or in person at one of the PSI Services testing centers across New Jersey. Start by scheduling your exam online through PSI Services. Once at your exam testing site, you’ll need to answer screening questions to determine if you have any criminal history or if you’ve held any other real estate licenses.
Once you’ve scheduled your exam, all that’s left to do is study so you feel prepared on exam day. We recommend reviewing your prelicensing course materials to pinpoint your strengths and weaknesses. If you could use more help studying, we suggest investing in an exam prep package. There’s no better way to increase your chances of passing your license exam the first time, since exam prep offers useful study tools that target the materials you’ll need to learn for the New Jersey real estate licensure exam.
We love The CE Shop’s Exam Prep Edge, which makes sure you have plenty of practice questions, review cheat sheets, and practice exams to make taking your exam a piece of cake. After you pass the 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.
Free Real Estate Practice Exam + 7 Hacks to Help You Ace Your Real Estate Exam
4. Apply for Your Real Estate License
Here’s your New Jersey Real Estate License Application Checklist:
A sponsoring broker to apply on your behalf A completed application form $160 license application fee A copy of the fingerprinting Universal Form A copy of your payment receipt for fingerprinting Your signed answers to the screening questions
At this point, you’re in the final stretch of obtaining your real estate license in New Jersey. Now all you need to do is complete the real estate license application process.
You can begin by completing a background check, which is required to apply for your license. 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.
- Next, pay the $66.05 fee and keep the receipt for your license application.
- Finally, 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.
How Much Does It Cost to Get a Real Estate License in New Jersey?
New Jersey Real Estate Governing Board:
New Jersey Real Estate Commission (REC)
Prelicensing Requirements:
75 Hours
Price Range for Prelicensing Courses:
$350 – $450
Estimated Total Cost:
$620 – $820
It will cost you between $620 and $820 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
| Prelicense Course | $350 - $450 |
| License Exam Fee | $45 |
| Background Check Fee | $66.05 |
| License Application Fee | $160 |
| TOTAL: | $620 - $820 |
New Jersey Real Estate License FAQs
Now that you’ve learned more about how to get a New Jersey 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 around $84,000 a year. There’s no limit on your potential income as a real estate salesperson in a commission-based career.
How hard is the New Jersey real estate license exam?
Sixty-three percent of candidates will pass the license exam on their first try. By sharpening your study skills and setting aside time to prepare, you’ll be able to pass the New Jersey real estate license exam.
For extra help, consider checking out exam prep packages from Kaplan. They offer affordable, targeted exam prep with expert-designed practice questions so you can pass the exam on your first try.
How is the New Jersey real estate 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 New Jersey Real Estate Commission.
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
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.
You can subscribe to our newsletter to get our latest articles direct to your inbox. At The Close, our mission is to provide you with an actionable real estate strategy for every phase of your new career.
Add comment