Working as a real estate agent comes with many advantages. Many agents who decide to start their journey of becoming real estate agents in New Jersey start on the quest to build a business that offers more of a flexible schedule.

Others want to simply break the glass ceiling and enter a career that rewards them for all the hard work and effort they invest into it. If you are tired or feel stuck in an unrewarding job, now might be the perfect time to chase your goals and become a real estate agent.

Do you have what it takes to work as a New Jersey Real Estate Agent? If yes, let’s dive into the basic steps of getting your real estate license in New Jersey.

How To Become A Real Estate Agent In New Jersey

Must be at least 18 years old
Must have a high school education and equivalent degree
Complete all 75 Hours of your real estate Pre-Licensing Classes
Complete RE-Background Check
Register and Pass Your State Licensing Exam, i.e., PSI exams
Applicants must first complete a 90-hour general real estate course
Complete Additional Required Courses (30 Hours) on Agency/Ethics and Office Management.
Submit these certifications to Education Qualification Section
Complete your fingerprints and pick a Sponsoring Broker
Submit your license application

Choose Your School And Sign Up For Classes

Before you can start listing million-dollar homes, the very first step toward getting your New Jersey License is choosing your classes and completing the mandatory educational requirements set by the state to become a real estate agent.

New Jersey Real Estate Classes

Get ready for some classroom time! To become a licensed real estate agent in New Jersey, you must first complete your state’s mandatory education requirements. In total, you will be required to complete 60 hours of state-approved courses for pre-licensing.

Click here for state-approved real estate classes and pricing. The good news is that the state of New Jersey allows you to take a portion of your real estate classes online. This is great because it will allow you to complete the course at your own pace and even possibly speed up the process if you put in the hard work.

The New Jersey Real Estate Exam consists of 110 multiple-choice questions, and a passing score is 70% or higher. Eighty questions are on the national portion, and you must get 56 questions correct to pass. The remaining 30 questions are on state-specific topics, and you must get 21 correct to pass.

New Jersey Pre-licensing Education Requirements

You must complete 75 hours of state-approved real estate pre-license education along with 120 hours of additional training courses.

Such hours include:

75 Hours of State-Approved Real Estate Classes

20 hours or more of an approved ethics course

40 hours or more of other “core” topics

60 hours of approved electives or additional core courses

Keep in mind you must score a 70% or higher on each final exam. So, it is important to pay close attention in class.

What Will I Learn In My Pre-License Classes?

I remember sitting in my real estate pre-licensing class. For many, real estate is like learning an entirely new language. In class, you will learn many new things. One of the most important is state laws relating to you as a real estate agent. This will help keep you out of legal trouble once you get out in the field and start practicing real estate. Here are some subjects you will learn about in real estate school.

Real estate math
Land use laws and regulations
Fair Housing laws
Real Estate Financing
Contracts
Transfer of title
Brokerage relationships
Disclosures
Property analysis
Rules of the Iowa Real Estate Commission

License law
Ethics
Agency Laws

To become a licensed real estate agent in New Jersey, you must first complete your state’s mandatory education requirements. In total, you will be required to attend 75 hours of state-approved courses for pre-licensing.

Schedule Your New Jersey Real Estate Salesperson License Exam

In New Jersey, your real estate exam will be taken with PSI Exams. It is recommended you call and schedule with a customer service representative. Here are a couple of important things to know.

This test can be taken by computer at the testing center.
This is not an open-book test.
Tests must be scheduled at least one day in advance.

New Jersey Real Estate License Background Check

Any person applying for a New Jersey real estate license must be fingerprinted and pass a background check. The current cost is $66 for the service.

New Jersey law requires all real estate license applicants to get a background check. This process can take 2-4 weeks to complete, but there is some good news. You do not need to wait for your completed background check before applying for your license.

What Is The Best Way To Study For The New Jersey Real Estate Exam?

Many people fail the New Jersey real estate exam the first time around. This is ok. Many of the great real estate agents having huge success today failed their exams the first time around. The bad news is that it costs money to retake your exam. At the time of writing, it is $45 to take the New Jersey Real Estate exam.

To increase the chances of passing your exam the first time, we recommend checking out Prep Agent. This study tool gave many other agents and me a huge boost in confidence when taking the real estate exam.

In fact, Prep agents are so confident in their study tool that they offer a 100% refund if you use the tool and fail your real estate exam.

You can find a New Jersey Real Estate school here, Real Estate Express.

What Do You Need To Bring When Taking The Exam At A Testing Center?

Don’t show up on test day only to be turned down. You will need to bring two forms of identification that have not expired and have a matching name and signature. One form of identification must have a photo to qualify. Here are some examples of acceptable identification.

Driver’s license
US social security card
Passport
Debit Card with Signature
Credit Card with Signature
Green Card

You are allowed to bring a basic non-scientific calculator that can be used for the math portion of the exam.

How Long Will I Have To Complete The New Jersey Real Estate Exam?

There are two portions to the exam:

General (National) Portion – 120 minutes

State Portion – 120 minutes

Total – 240 minutes

Number of Questions on Salesperson’s License Exam:

National – 80 questions

State – 30 questions

Total – 110 question

The New Jersey Real Estate exam is split into two real estate exams. One state and one national/general. You will have a total of 240 minutes to complete both. (4 Hours)

You will have 120 minutes to complete the New Jersey state portion of the exam. You will have 120 minutes to complete the national/general portion of the exam. Some people even complete their exams early. Do not stress; you have 4 hours to focus and get this done.

Pass Or Fail – How Long Does It Take To Get Results?

Taking the real estate exam can be nerve-racking. Once complete, we all become anxious and want to know if we passed or failed the big test. The good news is that you will know the results immediately after completing your exam.

Can I Retake The Real Estate Exam If I Fail?

Yes, if you fail, you can retake the New Jersey real estate exam. You are allowed three attempts to pass both the exam’s national and state law portions. After three attempts, you must take 30 hours of additional education to retake the licensing exam if you do not pass both portions.

But stay positive; many agents have failed the real estate exam multiple times and have gone on to have very successful careers.

How Long Does It Take To Become A Licensed Real Estate Agent In New Jersey?

I am sure you are excited and want to get licensed ASAP. You should expect the process to take about 4 to 5 months to become a New Jersey Real Estate Agent. The most time-intensive parts of the process are completing your 150 hours of broker pre-license education, 90 hours of broker general course, 30-hour agency/ethics course, and Office Management and related topics, which can take 3 to 6 months to complete.

Aside from just completing your real estate classes and studying, you will need to spend your time doing other important things like interviewing brokerages and deciding which one is the right fit for you and your new business.

This is just an average timeframe. Keep in mind everyone works at a different pace. If you are taking some of your courses online, you may be able to work through the coursework a little faster, or maybe it takes you a little more time to get through the coursework.

Either way, try not to overwhelm yourself and focus on getting a little further along in the process each day. Many people set out on the journey to become a New Jersey agent and quit before they even start because they simply overload themselves with work. Keep the focus on working toward your goal little by little each day.

How Much Does It Cost To Get A New Jersey Real Estate License?

It will cost around $900-$1100 to get your New Jersey Real Estate License. Some of these costs are fixed, such as the FBI background check and exam fee.

$66 fingerprint fee

$45 for New Jersey Real Estate License exam fee

$150 for sales associate license application fee

$270 Corporations, Partnership dues

$400-479 for pre-license courses

$100 Any additional study aids or course

Total New Jersey Real estate license cost estimate $1110.

Sign up for New Jersey Real Estate Classes Here: Real Estate Express

Note – These are just averages and are subject to change at any time.

Does New Jersey have reciprocity with any other states regarding a real estate license?

Unfortunately, New Jersey does not have any reciprocity with any other state.

How To Choose The Right Brokerage?

Selecting your broker is a business choice that we all have to make at some point in our careers. As a new agent, you likely do not know what to look for or what questions to ask. As an experienced agent who has worked at multiple offices, here are some things to consider.

Training- This is important. One of the biggest complaints I hear from new real estate agents is how lost they often feel. Often, they feel the brokerage they choose to partner with has poor mentorship or no mentorship at all. When interviewing brokers, you must ask if they have a mentorship program in place for new agents. If the answer is yes, make sure you dig deeper and ask how the program works. What are the expectations for the new agent, and what are the expectations for the mentor. You need to find out how much support and training they actually provide.

Splits- Every brokerage offers a different compensation model, and as a new agent, this is important to consider. However, do not make this your main focus. I see many new agents make commission splits, the main reason they choose a brokerage. This can be a huge mistake. Focus on what kind of value and training is offered for that split. The harsh truth is that 100% of nothing is still nothing.

Ongoing monthly fees- Some brokerages charge monthly fees to stay a part of the company. This is something to consider if you have a small savings account. As a new agent, you might be looking to stretch your dollar until you get a couple of closings under your belt. Joining a company with high ongoing monthly fees can put a dent in your savings account.

Commission Cap- This is in the same boat as commission splits, in my opinion. As a new agent, this should not be your main focus. You should be focused on support and training. However, as a business person, it is a question you should be asking. Some brokerages will cut off your commission fees once you “cap.” Every brokerage and market is different, but on average, we have seen the brokerage cap between 14k-21k. Once you pay that amount into the brokerage, your commission will shift to 100% in some cases with a small broker transaction fee.

Conclusion

Becoming a real estate agent in New Jersey is something worth working towards. To make all this happen will require work and consistency, but if you love the idea of selling homes in Princeton, Ocean City, or any other city in New Jersey, it is worth all the effort and hard work to make your dream become a reality.

Study hard and do not quit even if you fail your exam the first time around. Many of the greatest agents I know today in my local market did not pass the exam the first time around.