REAL ESTATE COMMISSION 11:5-6.1
copying by a duly authorized representative of the New Jersey Real Estate Commission. Licensees may be required to certify to the accuracy of the reproduced data.
Amended by R.1989 d.425, effective August 21, 1989 (operative November 19, 1989). See: 21 N.J.R 1310(a), 21 N.J.R. 2520(a). Clear specifications added regarding the type of business records brokers are required to maintain, new (a)1, new (b)1-10, and new (c)-(e). Amended by R.1998 d.246, effective May 18, 1998. See: 30 N.J.R 278(a), 30 N.J.R. 1827(a). In (e), inserted new third and fourth sentences. Amended by R.1998 d.497, effective October 5, 1998. See: 30 N.J.R 2333(a), 30 N.J.R. 3646(a). In (a), changed N.J.A.C. reference and deleted references to property; and in (b), changed N.J.A.C. references. Amended by R.1999 d.444, effective December 20, 1999. See: 31 N.J.R. 2675(a), 31 N.J.R. 4282(a). In (b), inserted 2i, and rewrote 4. Amended by R.2009 d.287, effective September 21, 2009. See: 41 N.J.R. 1381(a), 41 N.J.R. 3440(a). In (e), substituted “Copies” for “Paper copies” and “e-mail” for ‘E-mail”, and inserted the fourth and last sentences.
11:5-5.5 Inspection of records
(a) Every licensee shall make available for inspection by the Commission or its designated representatives all records of transactions, books of account, instruments, documents and forms utilized or maintained by such licensee in the conduct of the licensed business, which may be pertinent to the conduct of the investigation of any specific complaint.
(b) To accomplish the objectives and carry out the duties prescribed by this Act, especially the provisions of N.J.S.A. 45:15-17, the Commission may issue subpoenas to any person, administer an oath or affirmation to any person, and conduct hearings in aid of any investigation or inquiry.
(c) All files on pending and closed sale, exchange or lease transactions, all files on listings for sales or rentals, and all property management files shall be maintained or stored at the offices of brokers licensed as employing brokers or corporate or partnership brokers. Upon terminating their employment with such a broker, and/or transferring to the employ of another such broker, no referral agent, salesperson or broker-salesperson shall remove or cause to be removed any of the contents of such files from the offices of the broker. The term “files” as used herein shall be construed to mean all transaction records required to be kept by brokers pursuant to N.J.A.C. 11:5-5.4.
As amended, R.1983 d.471, effective November 7, 1983. See: 15 N.J.R. 1343(a), 15 N.J.R. 1865(c). Language citing statute deleted in subsection (a). Amended by R.1988 d.410, effective September 6, 1988. See: 20 N.J.R. 883(a), 20 N.J.R 2295(a). Added (c). Petition for Rulemaking: Upon termination from employment with a broker, no salesperson or broker salesperson may remove files from the office pertaining to sale or rental listings. See: 23 N.J.R. 1968(e). Public Notice: Petition to amend subsection (c). See: 23 N.J.R. 2191(b). Amended by R.1992 d.107, effective March 2, 1992.
See: 23 N.J.R. 3428(a), 23 N.J.R. 3739(a), 24 N.J.R. 852(b). Meaning of “files” specified at (c). Amended by R 1998 d.497, effective October 5, 1998. See: 30 N.J.R. 2333(a), 30 N.J.R. 3646(a). In (b), deleted “, in addition to other powers conferred upon it by the Act” following “Commission”; and in (c), changed N.J.A.C. reference. Amended by R.2012 d.006, effective January 3, 2012. See: 43 N.J.R. 1791(a), 44 N.J.R. 86(b). In (c), inserted “referral agent,”.
SUBCHAP ILR 6. CONDUCT OF BUSINESS
11:5-6.1 Advertising rules
(a) Unless otherwise set forth herein, subsections (b) through (o) below shall apply to all categories of advertising including all publications, radio or television broadcasts, all electronic media including E-mail and the Internet, business stationery, business cards, business and legal forms and documents, and signs and billboards.
1. Individuals operating as sole proprietors and licensed as employing brokers shall conspicuously display on the exterior of their maintained place of business their name and the words “Licensed Real Estate Broker”.
2. Finns licensed as corporate or partnership brokers shall conspicuously display on the exterior of their maintained place of business their regular business name and the name of the individual licensed as their broker of record and the words “Licensed Real Estate Broker”.
(b) All advertising of any licensed individual, partnership, firm, or corporate broker shall include their regular business name which for the purposes of these rules, shall mean the name in which that individual, partnership, firm or corporation is on record with the Commission as doing business as a real estate broker. All advertising by a referral agent, a salesperson or a broker-salesperson shall include the name in which they are licensed and the regular business name of the individual, partnership, firm or corporate broker through whom they are licensed. If such advertisements contain a reference to the licensed status of the person placing the ad, their status as a referral agent, a salesperson or a broker-salesperson must be indicated through inclusion of a descriptive term as provided in (e) below. A referral agent or salesperson may not indicate in any advertisement or otherwise that he or she is licensed as a broker-salesperson.
1. In all advertisements which contain the name of a referral agent, a salesperson or a broker-salesperson, the regular business name of the individual, partnership, firm or corporate broker through whom that person is licensed shall appear in larger print or be displayed in a more prominent rummer than the name of the referral agent, salesperson or broker-salesperson.
2. Where a webpage on the worldwide web established by a referral agent, a salesperson, a broker-salesperson, or a team of such licensees is not linked electronically to the webpage of the broker through whom the person or team is licensed, the