New Jersey Assembly Bill A835

New Jersey 2022-2023 Regular Session

• Introduced: 1/11/22
• Refer: 1/11/22

Caption

Removes examination requirement for relicensure as real estate broker, broker-salesperson or salesperson by licensed real estate referral agents under certain circumstances.

Impact

If enacted, A835 will significantly alter the current licensure landscape for real estate professionals in New Jersey. The bill allows qualified referral agents to bypass the traditional examination process for relicensing, provided they complete 30 hours of continuing education—of which 24 hours must cover core topics relevant to their previous licensure. This provision reflects an acknowledgment of the knowledge gained through practical experience over the years, potentially easing the transition for many agents looking to reintegrate into the industry.

Summary

Assembly Bill A835 proposes amendments to the licensing requirements for real estate referral agents in New Jersey. The bill primarily aims to remove the examination requirement for individuals seeking relicensure as real estate brokers, broker-salespersons, or salespersons under certain conditions. Specifically, it targets those who have been licensed as referral agents for more than six years. This change is intended to streamline the relicensure process and address the needs of experienced professionals re-entering the real estate field.

Contention

Despite the intended benefits, A835 raises concerns among stakeholders regarding the adequacy of the continuing education requirements. Critics argue that simply completing a set number of hours may not sufficiently ensure that all relicensed agents are up-to-date with the latest industry practices and regulations. Opponents of the bill, particularly those involved in consumer advocacy, warn that loosening the licensure standards may compromise the quality of service offered to consumers by potentially less qualified individuals reentering the real estate market.