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New Jersey Real Estate Broker — Requirements & Free Practice

US-NJ · License preparation

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Licenses, application pathways and examination requirements

Each license and applicant pathway has its own requirements and exemptions. Choosing practice questions does not determine your eligibility.

Real Estate Branch Office License

Licensing authority: New Jersey Real Estate Commission · Application information

Branch office relocation requiring new branch licensing
No examination is required for this applicant pathway.
Application
Board form treats change of branch address as a new branch: complete form, submit $150 and return current license for termination.
Existing License
Licensed branch changing address.

Official no-examination sources

Effective from 2026-09-22.

Branch office licensing
No examination is required for this applicant pathway.
Existing Broker
Already licensed real estate broker maintaining an additional office.
Premises
Office application, fee, open-to-public premises and required signs; comply with branch supervision requirements.
Supervision
Direct supervision by a qualified licensed broker-salesperson.

Official no-examination sources

Effective from 2026-09-22.

Biennial branch office renewal
No examination is required for this applicant pathway.
Application
Renew for the ensuing term and pay the applicable fee.
Existing Office
Licensed branch of a licensed broker with qualified broker-salesperson supervision.

Official no-examination sources

Effective from 2026-09-22.

Broker—Business entity

Broker licensing category for corporations, partnerships and other business entities.

Licensing authority: New Jersey Real Estate Commission · Application information

Business entity licensure through a qualified authorized broker
New Jersey Real Estate Broker Examination
Authorized Broker
Corporation/general partnership needs a qualified licensed officer/partner; a limited partnership needs a qualified licensed general partner and the additional corporate-general-partner qualifications where applicable. Examination qualification may already have been met by that authorized broker.
Continuity
Maintain a qualified authorized broker at all times; individual-account activity requires the authorized broker's individual license.
Individual Qualifications
Partners/directors/officers actually engaged in brokerage must meet applicable individual license, character and background-check requirements.
Organization
Corporation, general/limited partnership, limited liability company or another entity accepted by the Commission.
Business entity license reinstatement
No examination is required for this applicant pathway.
Application
Submit reinstatement documents and fees; Commission may refuse for sufficient cause.
Existing Qualification
Previously licensed entity maintaining or appointing its qualified licensed authorized broker.

Official no-examination sources

Effective from 2026-09-22.

Biennial business entity renewal
No examination is required for this applicant pathway.
Application
Prescribed renewal application, associated licenses and applicable fees.
Existing License
Licensed entity maintaining its qualified broker of record.

Official no-examination sources

Effective from 2026-09-22.

Temporary Broker License

Licensing authority: New Jersey Real Estate Commission · Application information

Temporary issuance after broker death or incapacity
No examination is required for this applicant pathway.
Application
File application, certified death certificate or physician/medical institution incapacity certification, and regular fee within the statutory 30 days. The 2026 Board rule says 30 business days; the statute's 30-day period controls.
Duration
At most one year from issuance; ends when afforded an opportunity to pursue the approved broker course and qualify by examination; cannot be extended or renewed.
Examination Timing
Initial temporary issuance requires no prior broker examination. Later regular broker qualification is retained as a separate examination route.
Prior License
Real estate salesperson license held for at least the immediately preceding three years.
Trigger
Broker death or mental/physical incapacity; no member/officer/employee holds an available broker-salesperson license to continue the business.

Official no-examination sources

Effective from 2026-09-22.

New Jersey Real Estate Broker Examination

Provider
PSI Services LLC
Format
Computer-administered examination
Exam questions
115 scored questions totaling 120 points; 5 to 10 additional unscored experimental questions may be administered.
Time limit
4 hours
Passing score
70%; the broker table states 84 correct (120 total points).
Exam fee
$38
Examination outline
  • Property Ownership (Broker 10%)
    • A. Real and personal property; conveyances
    • B. Land characteristics and legal descriptions
    • 1. Metes and bounds method of legal property description
    • 2. Lot and block (recorded plat) method of legal property description
    • 3. Government survey (rectangular survey) method of legal property description
    • 4. Measuring structures (linear and square footage)
    • 5. Land measurement
    • C. Encumbrances and effects on property ownership
    • 1. Types of liens and their effect on the title and value of real property
    • 2. Easements, rights of way and licenses, including their effect on the title, value and use of real property
    • 3. Encroachments and their effect on the title, value and use of real property
    • 4. Potential encumbrances on title, such as probate, leases, or adverse possession
    • 5. Property rights that may be conveyed separately from use of the land surface, such as mineral and other subsurface rights, air rights, or water rights
    • D. Types of ownership
    • 1. Ownership in severalty/sole ownership
    • 2. Implications of ownership as tenants in common
    • 3. Implications of ownership in joint tenancy
    • 4. Forms of common-interest ownership, such as Timeshares, Condominiums and Co-ops
    • 5. Property ownership held in a trust or by an estate
    • 6. Ownership by business entities
    • 7. Life Estate ownership
  • Land use Controls (Broker 5%)
    • A. Government rights in land
    • 1. Government rights to impose property taxes and special assessments
    • 2. Government rights to acquire land through eminent domain, condemnation and escheat
    • B. Government controls on land use
    • C. Private controls
    • 1. Deed conditions or restrictions on property use
    • 2. Subdivision covenants, conditions and restrictions (CC&Rs) on property use
    • 3. Condominium and owners’ associations regulations or bylaws on property use
  • Valuation (Broker 8%)
    • A. Appraisals
    • 1. Appraisals for valuation of real property
    • 2. Situations which require appraisal by a licensed or certified appraiser and brokerage-related actions that constitute unauthorized appraisal practice
    • 3. General steps in appraisal process
    • B. Estimating Value
    • 1. Economic principles and property characteristics that affect value of real property
    • 2. Sales or market comparison approach to property valuation and appropriate uses
    • 3. Cost approach to property valuation and appropriate uses
    • 4. Income analysis approach to property valuation and appropriate uses
    • C. Comparative Market Analysis (CMA)
    • 1. Competitive/Comparative Market Analysis (CMA), BPO or equivalent
    • 2. Automated Valuation Method (AVM), appraisal valuation and Comparative Market Analysis (CMA)
  • Financing (Broker 9%)
    • A. Basic Concepts and Terminology
    • 1. Loan financing (for example, points, LTV, PMI, interest, PITI)
    • 2. General underwriting process (e.g., debt ratios, credit scoring and history)
    • 3. Standard mortgage/deed of trust clauses and conditions
    • 4. Essential elements of a promissory note
    • B. Types of Loans
    • 1. Conventional loans
    • 2. Amortized loans, partially amortized (balloon) loans, interest-only loans
    • 3. Adjustable-rate mortgage (ARM) loans
    • 4. Government Loans
    • a. FHA insured loans
    • b. VA guaranteed loans
    • c. USDA/Rural Development loan programs
    • 5. Owner financing (for example, installment or land contract/contract for deed)
    • 6. Reverse-mortgage loans
    • 7. Home equity loans and lines of credit
    • 8. Construction loans
    • 9. Rehab loans
    • 10. Bridge loans
    • C. Financing and Lending
    • 1. Real Estate Settlement Procedures Act (RESPA), including kickbacks
    • 2. Truth-in-Lending Act (Regulation Z), including advertising
    • 3. Requirements and time frames of TRID (TILA-RESPA Integrated Disclosures)
    • 4. Equal Credit Opportunity Act
    • 5. Lending Process (application through loan closing)
    • 6. Risky loan features, such as prepayment penalties and balloon payments
  • Contracts (Broker 19%)
    • A. General Contract Law
    • 1. General principles of contract law
    • 2. Elements necessary for a contract to be valid
    • 3. Effect of the Statute of Frauds
    • 4. Offer and a contract
    • 5. Enforceability of contracts
    • 6. Void, voidable and unenforceable contracts
    • 7. Bilateral and unilateral contracts
    • 8. Nature and use of option agreements
    • 9. Notice, delivery, acceptance and execution of contracts
    • 10. Appropriate use, risks, and advantages of electronic signatures and paperless transactions
    • 11. Rights and obligations of the parties to a contract
    • 12. Possible remedies for breach or non-performance of contract
    • 13. Termination, rescission and cancellation of contracts
    • B. Purchase and Lease Contracts
    • 1. Addenda and amendments to contracts
    • 2. Purchase agreements
    • 3. Contract contingencies and methods for satisfying them
    • 4. Leases and rental agreements
    • 5. Lease-purchase agreements
    • 6. Types of leases
    • C. Proper handling of multiple offers and counteroffers
  • Agency (Broker 13%)
    • A. Agency and non-agency relationships
    • 1. Agency relationships and how they are established
    • 2. Types of listing contracts
    • 3. Buyer brokerage/tenant representation contracts
    • 4. Other brokerage relationships, including transaction brokers and facilitators
    • 5. Powers of attorney and other assignments of authority
    • 6. Conditions for termination of agency or brokerage service agreements
    • B. Agent Duties
    • 1. Fiduciary duties of agents
    • 2. Agent's duties to customers/non-clients, including honesty and good faith
    • C. Agency Disclosures
    • 1. Disclosure of agency/representation
    • 2. Disclosure of possible conflict of interest or self- interest
  • Property Disclosures (Broker 7%)
    • A. Property Condition
    • 1. Seller's property condition disclosure requirements
    • 2. Property conditions that may warrant inspections or a survey
    • 3. Red flags that warrant investigation of public or private land use controls
    • B. Environmental and Government Disclosures
    • 1. Environmental issues requiring disclosure
    • 2. Federal, state, or local disclosure requirements regarding the property
    • C. Disclosure of material facts and material defects
  • Property Management (Broker 5%)
    • A. Duties and Responsibilities
    • 1. Procurement and qualification of prospective tenants
    • 2. Fair housing and ADA compliance specific to property management
    • 3. How to complete a market analysis to identify factors in setting rents or lease rates
    • 4. Property manager responsibility for maintenance, improvements, reporting and risk management (BROKER ONLY)
    • 5. Handling landlord and tenant funds; trust accounts, reports and disbursements (BROKER ONLY)
    • 6. Provisions of property management contracts (BROKER ONLY)
    • B. Landlord and tenant rights and obligations
  • Transfer of Title (Broker 6%)
    • A. Types of deeds
    • B. Title Insurance and Searches
    • 1. Title insurance policies and title searches
    • 2. Potential title problems and resolutions
    • 3. Marketable and insurable title
    • C. Closing Process
    • 1. When transfer of ownership becomes effective
    • 2. Process and importance of recordation
    • 3. Settlement procedures (closing) and parties involved
    • 4. Home and new construction warranties
    • D. Special Processes
    • 1. Special issues in transferring foreclosed properties
    • 2. Special issues in short sale transactions
    • 3. Special issues in probate transactions
  • Practice of Real Estate (Broker 12%)
    • A. Antidiscrimination
    • 1. Federal Fair Housing Act general principles and exemptions
    • 2. Protected classes under Federal Fair Housing Act
    • 3. Protections against discrimination based on gender identity and sexual orientation
    • 4. Prohibited conduct under Federal Fair Housing Act (Redlining, Blockbusting, Steering, Disparate Treatment)
    • 5. Fair housing advertising rules
    • 6. Americans with Disabilities Act (ADA) obligations pertaining to accessibility and reasonable accommodations
    • B. Legislation and Regulations
    • 1. Licensees’ status as employees or independent contractors
    • 2. Antitrust laws and types of violations, fines and penalties
    • 3. Do-Not-Call List rule compliance
    • 4. Proper use of Social Media and Internet communication and advertising
    • C. Duties and Responsibilities
    • 1. Protection of confidential personal information (written, verbal or electronic)
    • 2. Duties when handling funds of others in transactions
    • 3. Licensee responsibility for due diligence in real estate transactions
    • D. Supervisory Responsibilities (BROKER ONLY)
    • 1. Broker's supervisory responsibilities (licensees, teams and unlicensed assistants and employees) (BROKER ONLY)
    • 2. Broker relationship with licensees (employees or independent contractors and governing rules) (BROKER ONLY)
  • Real Estate Calculations (Broker 6%)
    • A. Calculations for Transactions
    • 1. Seller’s net proceeds
    • 2. Buyer funds needed at closing
    • 3. Real property tax and other prorations
    • 4. Real property transfer fees
    • 5. PITI (Principal, Interest, Taxes and Insurance) payments estimate given loan rate and term
    • B. General Concepts
    • 1. Equity
    • 2. Rate of return/Capitalization rate
    • 3. Loan-to-Value ratio
    • 4. Discount points and loan origination fees
  • Duties and Powers of the Real Estate Commission (Broker 3 items)
    • 1. Maintenance of Records
    • 2. Sanctions
    • 2. Sanctions — a. Fines
    • 2. Sanctions — b. License Suspension and Revocation
  • Licensing Requirements (Broker 4 items)
    • 1. Activities Requiring a License
    • 2. Types of Licenses
  • Statutes and Rules Governing Licensee Activities (Broker 30 items)
    • 1. Advertising
    • 2. Broker/Salesperson Relationships
    • 3. Commissions and Required Accounting
    • 4. Agency/Conflicts of Interest/Disclosure Requirements
    • 5. Contracts and Other Documents
    • 6. Trust Fund Requirements
    • 7. Listings and Content of Listing Agreements
    • 8. Place of Business
    • 9. Records, including Escrow Account Bookkeeping Requirements
    • 10. Inducements
    • 11. Offering Buyer Rebates
    • 12. Responsibility to Public and Other Licensees
    • 13. Other Laws and Regulations
    • 13. Other Laws and Regulations — a. Farmland Reassessment Act
    • 13. Other Laws and Regulations — b. Pinelands Protection Act of 1979
    • 13. Other Laws and Regulations — c. Realty Transfer Fee
    • 13. Other Laws and Regulations — d. Mount Laurel Requirements
    • 13. Other Laws and Regulations — e. Zoning and building codes
    • 13. Other Laws and Regulations — f. Municipal Land Use Law
    • 13. Other Laws and Regulations — g. Real estate transfer tax
    • 13. Other Laws and Regulations — h. Truth in Renting Act
    • 13. Other Laws and Regulations — i. Freshwater Wetlands Protection Act of 1987
  • Additional Requirements (Broker 3 items)
    • 1. New Jersey Real Estate Sales Full Disclosure Act
    • 2. New Jersey Law Against Discrimination
    • 3. Real Estate Guaranty Fund
    • 4. New Jersey Real Estate Time Share Act
Examination sources