REAL ESTATE COMMISSION 11:5-8.2
suggested or stabilized. Nothing in this section shall prohibit any intra-office communications with regard to the establishment of commissions or division of commissions.
(b) No licensee shall directly or indirectly recommend or suggest to any other licensee(s) that such person(s) adhere to any schedule or recommendation of another concerning the rates, commissions or fees to be charged or the methodology or approach by which a commission, rate or fee is arrived at, or division of fees to be made, in the conduct of business. Nothing in this section shall prohibit any intra-office communications with regard to the establishment of commissions or division of commissions. Information imparted solely for the purposes of instruction, and not for the purpose of recommending guidelines or a preferred method of pricing, at any bona fide trade association seminar or educational courses shall be excepted from the proscription set forth in this section.
New Rule, R1981 d.261, effective July 9, 1981. See: 13 New Jersey Register 306(a), 13 New Jersey Register 440(c).
11:5-7.6 Proscription of certain discriminatory commission splits No licensee shall directly or indirectly take any punitive or retaliatory action against any other licensee(s) where such action is based upon the failure or refusal to adhere or to adopt any commission. No licensee shall adopt a discriminatory commission split against another broker because of such other broker’s failure or refusal to adhere to or adopt any commission; if a listing broker varies his commission split policy with any selling broker on a cooperative sale, the listing broker shall maintain a file at his place of business which shall contain in writing an explanation for the variation and which reflects who made the decision and why it was made. Nothing in this section shall prohibit a listing broker from varying his commission split policy with respect to any one or more selling brokers in order to achieve equality of commission splits with such other selling broker or brokers in connection with their commission split policy with such listing broker.
New Rule, R.1981 d.261, effective July 9, 1981. See: 13 New Jersey Register 306(a), 13 New Jersey Register 440(c).
11:5-7.7 Proscription on pressuring media
No licensee shall agree, combine or conspire with another to boycott, or threaten to boycott, or refuse to do business with any promotional medium where such refusal or boycott is based on the acceptance by any medium of advertising of price or commissions of a competitive or discount nature.
New Rule, R.1981 d.261, effective July 9, 1981. See: 13 New Jersey Register 306(a), 13 New Jersey Register 440(c).
SUBCHAPTER 8. DISCIPLINARYACTIONS/CONDITIONS FOR RESTORATION OF LICENSE/REAL ESTAIL GUARANTY FUND CLAIMS
11:5-8.1 Disciplinary action; restitution
(a) Violation of any of these rules and regulations, or of any real estate statute, shall be sufficient cause for any disciplinary action permitted by statute.
(b) In accordance with the provisions of N.J.S.A. 45:159 and N.J.S.A. 45:15-17, the Commission, in appropriate circumstances, will exercise its authority to impose restitution of moneys owed others as a condition to the issuance of a license or to the reinstatement of a license after revocation or suspension.
(c) The Commission may, where the nature of the offense so warrants, impose as a condition to any future license restoration, the successful accomplishment of a written examination of the same type normally given to applicants for initial licenses.
As amended, R.1977 d.392, effective October 19, 1977. See: 9 New Jersey Register 438(a), 9 New Jersey Register 536(b), As amended, R.1983 d.471, effective November 7, 1983. See: 15 New Jersey Register 1343(a), 15 New Jersey Register 1865(c). Added (c).
11:5-8.2 Real estate guaranty fund
(a) Every real estate licensee shall pay an additional amount as specified in N.J.S.A. 45:15-35 with their application for a license.
1. Said fees shall be paid into the real estate guaranty fund and be utilized in accordance with N.J.S.A. 45:15-34 et seq.
(b) Before making a request for the entry of a court order directing payment from the real estate guaranty fund, a judgment credit shall have a writ of execution issued and prior to its return shall make a bona fide effort to examine the judgment debtor under oath and make any and all other reasonable searches and inquiries to ascertain whether the judgment debtor possesses real or personal property or other assets, liable to be sold or applied in satisfaction of the judgment in whole or in part. Information regarding any personal or real property or other assets liable to be sold or applied in satisfaction of the judgment which are discovered must be reported in writing to the officer to whom the writ of execution is directed.
New Rule, R.1981 d.252, effective July 9, 1981. See: 13 N.J.R. 306(a), 13 N.J.R. 441(a). Amended by R.1991 d.114, effective March 4, 1991. See: 22 N.J.R. 3688(a), 23 N.J.R 701(a). Imposed special assessment on license renewals after January 1, 1991. Amended by R.1993 d.153, effective April 5, 1993. See: 25 N.J.R. 56(b), 25 N.J.R. 1548(a). In (a), specified assessment amounts established by N.J.S.A. 45:1 5-3 5. Amended by R.2012 d.006, effective January 3, 2012. See: 43 N.J.R. 1791(a), 44 N.J.R 86(b). Rewrote the introductory paragraph of (a).