Earning a license to sell real estate in New Jersey requires extensive education, testing and background checks. In an effort to ensure that real estate professionals maintain their credentials, they must renew their professional licenses on a regular basis. New Jersey has implemented several laws and systems to streamline the license renewal process.
New Jersey real estate licenses are issued on a two-year basis, with an expiration date of June 30 in the second year. As of 2011, all New Jersey real estate licenses have an expiration date of June 30, 2011, and a new licensing period will begin on July 1, 2011. That period will end on June 30, 2013. Regardless of when you earn your real estate license in the licensing period, it still expires on the same day, even if you have held your initial license for one year or less.
When you apply for a license, you need to be employed by a real estate broker who agrees to sponsor your application, and when it is time to renew the license, the renewal notice is sent to that employing broker. If you go to work for another broker, you need to transfer your license to that broker in order for it to remain valid. All license renewals are completed online through the Real Estate Online Services. New Jersey does not allow any paper license renewals, but if you renew through the online system, you can expect your updated license within seven to 10 business days.
In 2010, the New Jersey Legislature signed a law requiring New Jersey real estate professionals to complete continuing education in order to renew their licenses each two years. Beginning in 2013, real estate professionals must complete up to 16 hours of continuing education in agency operations, disclosure rules, legal and ethical issues, fair housing, New Jersey real estate law and implementation or other topics as determined by the New Jersey Real Estate Commission. Failing to complete the continuing education requirements as required will cause your license to be invalid, and you’ll have to complete the requirements and pay a fee for it to be reinstated.
If you allow your New Jersey real estate license to expire, you have two years from the expiration date to renew the license without undergoing the education and licensing process again. To reinstate your license within that two-year period, you need to be employed by a currently licensed real estate broker; your employer must complete the application for your license renewal.