Becoming a New Jersey real estate broker is a strong step forward in your career. Not only does this advanced license look great on a resume, it also allows you to work independently, open real estate brokerage firms, and manage other agents within these firms.
Getting the New Jersey Real Estate Broker License is a fairly simple process, but it does require you to complete five steps, and have a few prerequisites before applying or taking the broker’s exam.
This guide covers all of these requirements in a simple, easy to understand way that will make it easier for you throughout this process.
New Jersey Real Estate Agent vs Real Estate Broker
New Jersey offers two different types of real estate license: Sales and Broker.
A sales agent’s license is the initial license that real estate agents get in order to sell real estate.
A broker’s license is an advanced license that allows the license holder to operate at a higher level within real estate businesses in New Jersey.
People often confuse sales agents and brokers. A simple way to look at the difference is that holders of the sales agent’s license are called real estate agents, while holders of the broker’s license are called real estate brokers.
If you are working towards getting your first license, check out our New Jersey Real Estate License guide. If you’re working on the New Jersey real estate broker license, keep reading this page!
New Jersey Real Estate Broker License Requirements
First, to be eligible for a real estate broker’s license, you must meet the prerequisites to become a real estate broker in New Jersey.
These prerequisites are:
- Completing 150 hours of pre-license education
- Completing a 90-hour real estate course
- Completing two 30-hour courses on Office Management, Agency/Ethics, and related topics
- Working for at least three years as a real estate salesperson immediately prior to your application in New Jersey
How to Become a Real Estate Broker in New Jersey
Once you meet all the requirements listed above, you can follow these five steps to easily help you get your real estate broker license in New Jersey.
Step 1: Complete a New Jersey Broker Pre-Licensing Course
The first step to getting your real estate broker license in New Jersey is to take 150 hours of prelicensure.
Recommended Real Estate Education Course
We recommend Colibri Real Estate for real estate pre-license courses in New Jersey.
Colibri Real Estate
These real estate courses mostly cover the fundamentals of working in real estate. You only have one year to pass the state broker exam and apply for your license after completing the pre-license courses.
The required 150 hours of prelicensure education includes courses such as:
- 90-hour broker general education course
- 30 hours of Agency/Ethics
- 30 hours of Office Management/Related Topics
New Jersey offers no reciprocity, so even if you’re an agent or broker in another state, you won’t be able to work in New Jersey as an agent or broker without retaking the courses and examinations.
After completing the courses, you must also pass the final broker course exam. The minimum passing grade is 70%. The final pre-license exam is to be supervised by a proctor, whether on-site or online. This is not the same as the state broker exam.
After passing your broker course exam, your pre-license education provider will provide you with your course completion documents.
After completing these requirements, you need to submit a completed school certificate and Experience Report for Broker Applicant form to the Education Qualification Section of the Real Estate Commission. The fee for submitting the experience approval form is $25 payable to the State Treasurer of New Jersey.
If approved, you will receive a Certificate of Examination Eligibility needed to take the broker or broker-salesperson licensing test.
Step 2: Submit a New Jersey Broker License Application
Once you meet the broker pre-licensing education requirements and pass the course exam, you can now apply for your license.
To submit your broker license application, you must mail in your forms or take them to a local New Jersey Real Estate Branch Office. The application fee is $270.
If you don’t want to file online, you can also apply online using the New Jersey Real Estate Commission Department of Banking & Insurance electronic platform to submit your application.
You can find the full instructions for your online application here.
Step 3: Get Fingerprint-Based Background Check
After submitting your license application, you must have a fingerprint-based background check. You must submit your fingerprints via the approved vendor. IdentoGO does fingerprinting in New Jersey. To get started, you will need the 2F1FTK service code for New Jersey real estate brokers.
The fingerprinting fee is $66.05 and is taken at the time of scheduling. You can pay online via credit card, debit card or electronic debit (ACH).
Make sure to fill out this Real Estate Sales/Brokers/Salesperson New Jersey Universal Fingerprint Form or you will be turned away.
If you aren’t sure whether you are eligible for a real estate license based on your history, check out our article on Real Estate License Eligibility.
Step 4: Pass the New Jersey Real Estate Broker Exam
After completing the steps above, you must take the real estate broker licensing exam via PSI Exams.
The fee for the broker exam is $38.
In New Jersey, brokers take a combination real estate exam that combines the national and state sections together. The test takes 240 minutes to complete.
If you happen to fail the exam, you can take it again as long as you pay the fee. You will need to wait at least 24 hours before you can schedule the test a second time. You are allowed three attempts before being required to take remedial courses (30 or 60 hours) to retake the exam.
For more information on the exam, PSI provides a Candidate Handbook containing the New Jersey Real Estate Broker Exam Content Outline.
Taking an exam prep course provides you helpful tools and materials, such as quizzes and specific state-only practice exams, to increase your chances of passing your broker license exam the first time.
Step 5: Application Review
After you take your pre-licensure courses you have up to one year to apply for your initial license.
It can take up to 30 days for the New Jersey Real Estate Commission to review examinations and approve licensing. Concerns about your application can’t be answered during the processing period.
Now that you’ve successfully passed the broker licensing exam and obtained your license, there are a few things you need to do to keep your broker license active and updated.
New Jersey Real Estate Broker License Renewal and CE
In New Jersey, your license is only good for two years and then must be renewed. You have to complete 12 hours of continuing education (CE) including the following courses:
- Fair Housing and New Jersey Law Against Discrimination (one hour)
- Core (three hours)
- Ethics (two hours)
- Electives (Ethics, Core, Fair Housing, and other elective options are all allowed) (six hours)
The cost to renew your New Jersey real estate broker license is $200.
NJDOBI – New Jersey Department of Banking and Insurance – Real Estate Commission
New Jersey Real Estate Commission
P.O. Box 328
Trenton, NJ 08625
Phone: (609) 292-7272
New Jersey Real Estate Broker License FAQ
How much does it cost to get a real estate broker license in New Jersey?
The costs of getting a real estate broker license in New Jersey can range between $600 and $800.
The cost breakdown is as follows:
Pre-license education courses: $209-$399
Experience Approval fee: $25
Application fee: $270
Fingerprint-based background check: $66.05
Broker exam fee: $38
How long does it take to get a real estate broker license?
The steps that typically take the most time when getting a broker license include taking pre-license education courses and exams. The average amount of time to get a broker license is generally three to six months.
What is the difference between a real estate agent and a real estate broker?
Real estate agents focus on working with clients on individual real estate transactions, while real estate brokers have more experience with the added responsibility of managing a team of real estate agents or brokerage business. See our Real Estate Agent vs. Broker vs. Realtor page for more information.
How much does a real estate broker make?
Real estate brokers get paid just like real estate agents by earning commissions on their agents’ sales. Brokers can also charge the real estate agents they manage a fixed monthly fee or have the option to earn money on commission sales by helping their own clients buy and sell property. According to Payscale data, brokers earn $61,314 per year in base salary, with anywhere between $10,000 and $147,000 in commissions. The Bureau of Labor Statistics (BLS) indicates that the median broker salary is $62,010.
How do I get a job as a real estate broker in New Jersey?
Browse through available real estate broker jobs in your area using our StateRequirement Job Board!