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A Message from the Department Consumer protection and assistance is the primary goal of the New Jersey Department of Banking and insurance. As part of this effort, we strive to provide consumers with the information they need to make responsible decisions regarding owning, buying and renting New Jersey properties, The New Jersey Real Estate Commission, a division of the Department, is charged with the responsibility of protecting consumers by enforcing the Real Estate Licensing Law and the Real Estate Sales Full Disclosure Act. The Real Estate Commission is a regulatory agency, and as such, cannot award damages or give legal advice. However, it can impose substantial sanctions upon licensees found guilty of violations. New Jersey consumers are invited to contact the Real Estate Commission if they need additional information or wish to file a complaint. The Department and the Real Estate Commission take great pride in protecting the interests of consumers and meeting the needs of real estates licensees. Robert L. Kinniebrew, Acting Commissioner Executive Director How Does the Commission Protect Consumers? Licensees found guilty of Violation of the law are subjects to sanctions by the commission, including fines, revocations, and in cases of misappropriated funds restitution.
The commission administers the New Jersey Real Estate Guaranty Fund. Consumers whose funds have been misappropriated by a license acting as such may, after exhausting all other avenues, recover up to $20,000, including attorney fees and court costs, from the fund.
The Commission also implements and enforces the Real Estate Sales Full Disclosure Act. This law regulates the marketing and sale within New Jersey of resident real estate development in other states and countries, including time shares, condominiums, lot sales, and properties of which owners are required to belong to a Homeowners Association. Persons who wish to market such properties in New Jersey must first register their products with the commission. To qualify for registration, the applicants must establish that, they can convey good title to the properties that full and accurate disclosure of all pertinent information will be made to prospective New Jersey purchasers, and that adequate financial assurances exist to ensure completion of all promised improvements. Live Scan Fingerprinting Now Required Digital fingerprints are now required for real estate professionals applying for a license in New Jersey. This live scan will be used to track criminal history in a more timely and efficient manner. Appointment scheduling is avaliable through the Sagem Morpho web site at www.bioapplicant.com/nj. 1. Applicants will be required to complete a proper form, failure to do so will result in a $14 cancellation fee, and the applicant will be turned away. The form is avaliable on the REC web site at www.state.nj.us/dobi/remnu.shtml. 2. Once the form is completed, applicants can schedule the appointment via the Sagem Morpho web site. 3. Appointments are also avaliable throught the toll-free call center at 1-(877)-503-5981 Monday-Friday, 8 a.m.-5.pm. and Saturday, 8 a.m.-12 p.m. 4. Hearing impaired scheduling is avaliable at 1-(800)-673-0353. 5. English and Spanish operators are avaliable. For additional informational contact the Education Bureau at (609) 292-8300, extension 50113. Consumer information statement The Real Estate Commission, by regulation, requires licensees to disclose how they intend to work with buyers and sellers in a real estate transaction with consumer information statement. This statement describes the various business relationships in which New Jersey brokerage firms may operate when involved in a residential transaction. The statement is not an agency agreement or contract. It is provided solely for the education and protection of consumers (In rental transactions, the terms “buyers” and “sellers” should be read as “tenants” and “landlord,” respectively.) As a seller’s agent or subagent I, as a licensee, represent the sellers and all material information supplied to me by the buyer will be told to the seller. As a buyer’s agent I, as a licensee, represent the buyer and all material information supplied to me by the buyer. As a disclosed dual agent I, as a licensee represent both parties. However, I may not without express permission, disclose that the seller will accept a price less than the listing price or that the buyer will pay a price greater than the offered price. As a transaction broker I, as a licensee, do not represent either the buyer or the seller. All information I acquired from one party may be told to the other party. If the real estate licensee you are working with engages in any of the following practices, contact the Real Estate Commission.
Real estate licensees must not: Make any substantial misrepresentation. Make any false promises of a character likely to influence, persuade or induce. Give legal advice. Act for more than one party in a transaction without the knowledge of all parties. Fail to account for or remit, within a reasonable time, any money belonging to others that comes into their possession. Fail to furnish copies of brokerage agreement, offer, contract or lease to the person whose signature is affixed to the document. Fail to specify a definite termination date in any listing contract Enter into a “Net Listing” arrangement. Split commission or pay referral fees, rebates or other compensation to unlicensed individuals. Engage in false misleading or deceptive advertising. Discriminate on the basis of color, race, sex, national origin, familial status, disability, affect ional or sexual orientation. Engage in any other conduct that constitutes fraud or dishonest dealing.
What if I have question or complaint? If you have question or want more information, please contact the commission. If you wish to file a complaint, please write or fax a letter to the Commission’s investigations Section. New Jersey Real Estate Commission P.O. Box 0328 Trenton, NJ 08625-0328 Phone: (609) 292-8300 E-mail: realestate@dobi.state.nj.us Web site: www.njdobi.org Fax: (609) 292-0944 How Can I Find a Brokerage Firm to Represent Me? Ask someone you know who has purchased or sold property- for example, a friend, attorney, accountant or banker. You might want to interview several individual to find a company and agent with whom you feel comfortable. The NJ Real Estate Commission cannot recommend a firm or licensee to you, but can confirm the status of a real estate license. For information on real estate matters that do not involve brokerage, the following agencies can be contacted: New Jersey Board of Real Estate Commission Appraisers Department of law and public safety Division of Consumer Affairs Phone: (973) 504-6480 Department of Banking and Insurance Division of Banking (licenses and regulates residential mortgage brokers and bankers) Phone: (609) 292-7053 Fax: (609) 292-6765 E-mail: relic@dobi.state.nj.us About the Real Estate Commission Established in 1921, the New Jersey Real Estate Commission was created to administer and enforce New Jersey’s Real Estate Commission Law, N.J.S.A.45:15-1 et seq. The Commission consists of five members who have been licensed as New Jersey real estate brokers for at least ten years, two public members, and one representative of an appropriate government department. The Commission meets approximately 36 times each year, and frequently acts as a quasi- judicial body rendering decisions on contested license applications and enforce rules, interpretating and establishing standards of practice for the real estate brokerage profession. Functions of the Commission License and regulate prelicensure education schools and instructors. Prescribe the content of prelicensure courses and oversee the administration of license examinations. Review the qualification of license applicants Enforce the License Law, the Administrative Rules implementing it and the Real Estate Sales Full Disclose Act. Conduct and support educational endeavors within the real estate brokerage professional. Support governmental initiatives intended to enhance consumer protection and the professionalism of licensees. New Jersey Real Estate Commission Supervisory/ staff Robert L. Kinniebrew
Executive Director Thomas Tighue Assistant Director, Administration Bureau (609) 292-8300 Marianne Gallina Regulatory Officer, Hearing/Regulatory Affairs Bureau (609) 292-8295 Michael McGowan (609) 292-8300 Manager, Investigation Bureau Bernadette Gyenge Supervisor, Investigations Bureau (609) 292-8300 Robert Carter Chief, Bureau of subdivided Land Sales Control (609) 292-8385 Education Bureau (609) 292-8597 Carmen Collazo Administrator Licensing (609) 292-7053 Theresa Johnson (609) 292-7053 Supervisor licensing Fax: (609) 292 0944 E-mail: realestate@dobi.state.nj.us Web Site: www.njdobi.org |
