The Rules and Regulations of the New Jersey Real Estate Commission NEW JERSEY ADMINISTRATIVE CODE TITLE 11 INSURANCE CHAPTER 5 REAL ESTATE COMMISSION SUBCHAPTER 1: ORGANIZATIONAL RULES 11:5-1.1 Commission responsibilities 11:5-1.2 Organization of the Commission 11:5-1.3 Functions of the Commission 11:5-1.4 Information available to the public 11:5-1.5 Commission records open to public inspection; investigative files not open to the public SUBCHAPTER 2: EDUCATION 11:5-2.1 Educational requirements for salespersons, referral agents and brokers in making application for licensure examination 11:5-2.2 Licensed schools and instructors; requirements 11:5-2.3 Applications processed by the Education Bureau of the Real Estate Commission 11:5-2.4 Examination eligibility certificates 11:5-2.5 Education Bureau forms and processing times 11:5-2.6 Education Bureau transaction fees SUBCHAPTER 3: LICENSING 11:5-3.1 Terms of real estate licenses 11:5-3.2 Payment of fees as prescribed by statute 11:5-3.3 Criminal history record check 11:5-3.4 Examination rules 11:5-3.5 Requests for disclosure of social security numbers and electronic mailing addresses 11:5-3.6 Salesperson’s and referral agent’s licenses; age requirement 11:5-3.7 Employment of or referral agent salesperson sponsored by broker 11:5-3.8 Qualifications for licensing; broker and broker-salesperson 11:5-3.9 Return of license when broker ceases to be active; office closing; change of broker of record 11:5-3.10 Sponsoring of license applications or transfers of license 11:5-3.11 License transfer and termination procedures 11:5-3.12 License applications processed by the Real Estate Section of the Department of Banking and Insurance Licensing Services Bureau 11:5-3.13 Licensing Services Bureau, Real Estate Section forms, instructions, processing times, deadlines 11:5-3.14 Licensing fees 11:5-3.15 Change of status from referral agent to salesperson or broker-salesperson SUBCHAPTER 4: EMPLOYMENT PRACTICES/OFFICES AND LICENSEE SUPERVISION 11:5-4.1 Employment agreements; commissions; accounting to salespersons and referral agents; actions for collection of compensation 11:5-4.2 Broker supervision and oversight of individual licensees, office operations and escrowed monies 11:5-4.3 Use of license for the benefit of others 11:5-4.4 Maintained offices 11:5-4.5 Branch office compliance with NJAC 11:5-4.4 (Maintained offices) SUBCHAPTER 5: TRUST ACCOUNTS/RECORDS OF BROKERAGE ACTIVITY 11:5-5.1 Special accounts for funds of others; commingling 11:5-5.2 Funds of others; safeguards 11:5-5.3 Advance fees; accounting 11:5-5.4 Records to be maintained by broker 11:5-5.5 Inspection of records SUBCHAPTER 6: CONDUCT OF BUSINESS 11:5-6.1 Advertising rules 11:5-6.2 Contracts of sale, leases and listing agreements 11:5-6.3 Broker insurance placement provision 11:5-6.4 Obligations of licensees to public and to each other 11:5-6.5 Residential rental referral agencies 11:5-6.6 Participation in trade associations or listing services 11:5-6.7 Disclosures by licensees providing mortgage financing services to buyers for a fee 11:5-6.8 Disclosure of licensee’s affiliation with a mortgage lender or mortgage broker to whom the licensee refers buyers 11:5-6.9 Consumer Information Statement 11:5-6.10 Referral agents SUBCHAPTER 7: PROHIBITED ACTIVITIES 11:5-7.1 Prohibition against licensees receiving dual compensation for dual representation in the sale or rental transaction 11:5-7.2 Prohibition against kickbacks for related business referrals 11:5-7.3 Licensees with in-house mortgage services prohibited from excluding all outside mortgage solicitors 11:5-7.4 Blockbusting; solicitation 11:5-7.5 Proscription of price-fixing and agreements in regard to methods of arriving at commission 11:5-7.6 Proscription of certain discriminatory commission splits 11:5-7.7 Proscription on pressuring media SUBCHAPTER 8: DISCIPLINARY ACTIONS/ CONDITIONS FOR RESTORATION OF LICENSE/REAL ESTATE GUARANTY FUND CLAIMS 11:5-8.1 Disciplinary action; restitution 11:5-8.2 Real estate guaranty fund SUBCHAPTER 9: RULES INTERPRETING AND IMPLEMENTING THE REAL ESTATE SALES FULL DISCLOSURE ACT, NJSA 45:15-1627 ET SEQ 11:5-9.1 Applicability and scope 11:5-9.2 Definitions 11:5-9.3 Forms of documents 11:5-9.4 Contents of application for registration 11:5-9.5 Public Offering Statements 11:5-9.6 Representation of applicants and registrants by New Jersey real estate brokers 11:5-9.7 Fees with respect to the registration of interstate properties 11:5-9.8 Issuance by the Commission of a Notice of Filing, Order of Registration, Notice of Correction, or Order of Rejection; Petition for Reconsideration, Automatic Registration 11:5-9.9 Inspection of properties by the Commission 11:5-9.10 Amendments to registration applications and Public Offering Statements 11:5-9.11 Annual reporting upon and the termination of registrations 11:5-9.12 Home builders 11:5-9.13 Grounds for denial of registration applications and for the revocation of Orders of Registration 11:5-9.14 Advertising and sales promotions with respect to the sale and marketing of registered properties 11:5-9.15 Compliance with situs state requirements 11:5-9.16 Improvements to be made at registered properties 11:5-9.17 Contracts for the purchase of an interest in a registered property 11:5-9.18 Exemptions from the provisions of NJSA 45:15-1627 et seq 11:5-9.19 Imposition of regulatory sanctions; cease and desist orders; hearings SUBCHAPTER 9A: RULES INTERPRETING AND IMPLEMENTING THE NEW JERSEY REAL ESTATE TIMESHARE ACT, NJSA 45:15-1650 ET SEQ 11:5-9A.1 Purpose and scope 11:5-9A.2 Definitions 11:5-9A.3 Forms of documents 11:5-9A.4 Registration filings 11:5-9A.5 Amendments to registrations and to public offering statements 11:5-9A.6 Public offering statements 11:5-9A.7 Exemptions 11:5-9A.8 Advertising and sales promotions with respect to the sale and marketing of registered timeshare plans 11:5-9A.9 Inspection of timeshare offerings 11:5-9A.10 Fees SUBCHAPTER 10: RULEMAKING AND PETITIONS FOR RULEMAKING 11:5-10.1 Rulemaking-scope 11:5-10.2 Notice of proposed adoption of new rule, or proposed amendment or repeal of existing rule 11:5-10.3 Comments concerning proposed adoption of new rule, or proposed amendment or repeal of existing mile; extensions of time for comments 11:5-10.4 Public hearings concerning proposed adoption of new rule, or proposed amendment or repeal of existing rule 11:5-10.5 Petitions for rulemaking-scope 11:5-10.6 Procedure for the submission of petitions for rulemaking 11:5-10.7 Procedure for the consideration and disposition of rulemaking petitions SUBCHAPTER 11: PROCEDURES ON DISCIPLINARY ACTIONS, CONTESTED APPLICATIONS, DECLARATORY RULING REQUESTS 11:5-11.1 Pleadings enumerated and defined 11:5-11.2 Answers 11:5-11.3 Adversary hearing determination by the Commission 11:5-11.4 Motions 11:5-11.5 Hearing procedure 11:5-11.6 Sanctions: failure to answer or appear; default 11:5-11.7 Settlements 11:5-11.8 Decisions in enforcement actions, motions for reconsideration 11:5-11.9 Applications for temporary suspension 11:5-11.10 Procedures applicable to appeals of initial denials of licensing applications SUBCHAPTER 12: CONTINUING EDUCATION 11:5-12.1 Purpose and scope 11:5-12.2 Definitions 11:5-12.3 Continuing education requirements 11:5-12.4 Curricula 11:5-12.5 Waiver of continuing education requirements 11:5-12.6 Continuing education providers; standards and application process 11:5-12.7 Continuing education providers; responsibilities 11:5-12.8 Continuing education providers; reporting and recordkeeping requirements 11:5-12.9 Continuing education providers; advertising 11:5-12.10 Continuing education instructors; standards and application process 11:5-12.11 Continuing education courses; application process 11:5-12.12 Continuing education courses; standards and requirements 11:5-12.13 Continuing education courses; elective courses 11:5-12.14 Distance learning continuing education courses; additional requirements 11:5-12.15 Denials, suspension or revocation of approvals 11:5-12.16 Appeals of initial denials of applications for continuing education course, instructor and provider approval and of applications for a waiver of the continuing education requirement 11:5-12.17 Fees 11:5-12.18 Voluntary Advisory Committee 5/5 (1 Review)
