11:5-3.14
INSURANCE
26. Multiple broker of record license;
27. Temporary broker’s license;
28. Change of Broker of Record Affidavit;
29. Individual irrevocable consent to service of process;
30. Corporate irrevocable consent to service of process;
31. Partnership/LLC/other irrevocable consent to service of process;
32. The form to request fingerprint scan processing utilized by the State-contracted fingerprint scanning vendor; and
33. Change of license type.
(b) In addition to the instructions that are contained on the forms themselves, separate instructions for the licensing forms related to broker licenses and branch offices are available from the Licensing Services Bureau, Real Estate Section.
(c) License applications are normally processed within 15 business days from the date a complete and accurate application with all required fees in the correct form is received. Processing times during the biennial renewal of licenses may vary. License certifications are normally processed within 15 business days from receipt of the written request and correct fee.
(d) Deadlines for the submission of license applications and other required forms are as follows:
. Original salesperson, referral agent, broker-salesperson or broker: one year from date on which prelicensure course and education requirements were completed (see N.J.A.C. 11:5- 3.6(c) for salespersons and referral agents and 11:5-3.8(e) for brokers and broker-salespersons);
. Applications for the reinstatement of a salesperson, referral agent, broker-salesperson or brokers license: two years from the expiration date of the last license held unless exempted as provided in N.J.S.A. 45:15-9;
. Brokerage firm office closing affidavit: within 30 business days from date of closing (see N.J.A.C. 11:5-3.9(c));
. Brokerage firm change of address: prior to or immediately upon move to new address (see N.J.S.A. 45:15-12 and 45:1513);
. Temporary broker license: within 30 business days from date of death or of incapacity of sole proprietor broker or broker of record (see N.J.S.A. 45:15-11.3); and
. License renewals:
i. Initial renewal application: by June 30 of the year in which the license is due to expire (see N.J.A.C. 11:5-3.1);
ii. First supplemental renewal application: 45 days from date application issued; and
iii. Second supplemental renewal application: 30 days from date application issued.
(e) Late fees are assessed for license renewals postmarked and received by the Commission after the deadlines referenced in (d)6 above. Those fees are set forth in N.J.A.C. 11:5-3.14.
New Rule, R.2003 d.440, effective November 3, 2003. See: 34 N.J.R. 4043(a), 35 N.J.R. 5109(a). Amended by R.2009 d.287, effective September 21, 2009. See: 41 N.J.R. 1381(a), 41 N.J.R. 3440(a). Section was “Licensing Section forms, instructions, processing times, deadlines”. In the introductory paragraph of (a), substituted “Real Estate Section of the Department of Banking and Insurance Licensing Services Bureau” for “Licensing Section of the Real Estate Commission”; rewrote (a)32; and in (b), inserted “Services Bureau, Real Estate”. Amended by R.2012 d.006, effective January 3, 2012. See: 43 N.J.R. 1791(a), 44 N.J.R. 86(b). In (a)1, inserted “or referral agent”; in (a)5, substituted “Referral agent, salesperson” for “Salesperson”, in (a)10, inserted “referral agent or”; in (a)31, deleted “and” from the end; in (a)32, substituted “; and” for a period at the end; added (a)33; in (d)1 and (d)2, inserted “referral agent,”; and in (d)1, inserted “and referral agents”.
11:5-3.14 Licensing fees
The fees applicable to transactions processed by the Department of Banking and Insurance Licensing Services Bureau, Real Estate Section are listed in the table below. Renewal fees are assessed biennially for the renewal of licenses for a two-year term pursuant to N.J.S.A. 45:15-15. All other fees are payable in full regardless of when during a license term the application to which the fee pertains is submitted.
LICENSE FEES
Initial License Fees (amounts include $ 50.00 application fee and, where applicable, Real Estate Guaranty Fund fees of $ 10.00 for salespersons and referral agents and $ 20.00 for brokers and broker-salespersons. See N.J.S.A. 45:15-35. Amounts do not include the processing fee for fingerprint scanning payable directly to the State-contracted vendor):
License Fee Corporations, partnerships and other business $ 270.00 entities Broker of record $ 270.00 Sole proprietor broker $ 270.00 Broker-salesperson $ 270.00 Salesperson $ 160.00 Referral agents $ 160.00 Branch office $ 150.00 Temporary broker license $ 300.00