REAL ESTATE COMMISSION 11:5-6.2
authorized to engage in real estate brokerage activity beyond that which he or she is permitted under N.J.S.A. 45:15-3 or N.J.A.C. 11:5-6.10.
(t) On all advertisements, except business cards, referral agents shall include the following statement in a clear and conspicuous manner: Services limited to referring prospects to broker.
As amended, R.1976 d.276, effective August 31, 1976. See: 8 N.J.R. 387(a), 8 N.J.R. 482(a). As amended, R.1977 d.84, effective March 10, 1977. See: 9 N.J.R. 91(d), 9 N.J.R. 178(a). As amended, R.1978 d.42, effective January 31, 1978. See: 9 N.J.R. 534(c), 10 N.J.R. 116(c). As amended, R.1979 d.461, effective November 26, 1979. See: 10 N.J.R. 499(a),12 N.J.R. 44(b). As amended, R.1980 d.52, effective January 31, 1980. See: 12 N.J.R. 44(a), 12 N.J.R. 128(a). As amended, R.1980 d.213, effective May 14, 1980. See: 12 N.J.R. 44(a), 12 N.J.R. 343(a). As amended, R.1980 d.279, effective June 26, 1980. See: 12 N.J.R. 340(b), 12 N.J.R. 484(d). As amended, R.1983 d.471, effective November 7, 1983. See: 15 N.J.R. 1343(a), 15 N.J.R. 1865(c). Time limits on compliance deleted. As amended, R.1986 d.91, effective April 7, 1986. See: 17 N.J.R. 666(a), 18 N.J.R. 699(a). (m)3.-5. deleted. Amended by R.1987 d.69, effective January 20, 1987. See: 18 N.J.R. 1679(a), 19 N.J.R. 232(b). Amended (d) and (e). Petition: Notice of Action upon petition for Declaratory Ruling and/or Rulemaking limiting the scope of Advertising Rules. See: 19 N.J.R. 570(d), 19 N.J.R. 664(a). Amended by R.1988 d.237, effective June 6, 1988. See: 20 N.J.R 497(a), 20 N.J.R 1205(a). Substantially amended subsection (j). Amended by R.1989 d.447, effective August 21, 1989. See: 21 N.J.R. 1312(a), 21 N.J.R. 2552(b). Exempted residential lawn sign advertisement for properties of four or fewer units, corrected spelling of realtist and added new (n) regarding consent of exclusive listing broker. Amended by R.1993 d.9, effective January 4, 1993 (operative May 4, 1993). See: 24 N.J.R. 3484(a), 25 N.J.R. 178(b). Requirements for signs, cards, etc. amended to show name of broker, identified as such. Amended by R.1994 d.266, effective June 20, 1994 (operative July 1, 1994). See: 26 N.J.R. 729(a), 26 N.J.R 1194(a), 26 N.J.R. 1222(a), 26 N.J.R. 2581(b). Amended by R.1997 d.26, effective January 21, 1997. See: 28 N.J.R. 3064(a), 29 N.J.R. 365(a). In (1), inserted reference to the seller regarding warranty payment; in (m)2, inserted reference to informational or educational; and added (m)2i. Amended by R.1998 d.246, effective May 18, 1998. See: 30 N.J.R. 278(a), 30 N.J.R. 1827(a). In (a), inserted “all electronic media including E-mail and the Internet,” in the introductory paragraph; in (b), added new 1 through 3; rewrote (d); and in (m), substituted “certified or licensed appraiser” for “specialist or expert” in the introductory paragraph, added “, and coupons offering discounts on commissions charged by brokerage firms” at the end of 1i, and inserted a new lii. Amended by R.1998 d.497, effective October 5, 1998. See: 30 N.J.R. 2333(a), 30 N.J.R. 3646(a). In (g), deleted “without qualification,” following “mentioned” in the second sentence; and in (i), changed N.J.A.C. reference. Amended by R.2000 d.223, effective June 19, 2000 (operative September 17, 2000). See: 31 N.J.R. 2678(a), 32 N.J.R. 2242(b). In (n), added 1. Amended by R.2001 d.236, effective July 16, 2001 (operative October 15, 2001). See: 32 N.J.R. 2205(a), 33 N.J.R 2532(a). In (a), substituted “(o)” for “(n)”; in (b)1, substituted “In” for “With the exception of business cards, in”; in (d), substituted “Any” for “With the exception of business cards, any” in the introductory paragraph; in (g), deleted “unqualified” preceding “references shall”; added (o). Amended by R2002 d.346, effective November 4, 2002 (operative February 2, 2003). See: 33 N.J.R. 3620(a), 34 N.J.R 3832(a). Rewrote the section. Amended by R.2004 d.130, effective April 5, 2004. See: 35 N.J.R. 4812(a), 36 N.J.R. 1780(a). In (e), substituted “the words broker-associate, associate broker, realtor- associate or” for “any of the aformentioned words or by the use of in the second sentence. Amended by R.2012 d.006, effective January 3, 2012. See: 43 N.J.R. 1791(a), 44 N.J.R. 86(b). In the introductory paragraph of (b), and in (b)1 and (b)2, inserted “referral agent, a” throughout; In the introductory paragraph of (b) and in (b)1, inserted “a” preceding “broker-salesperson” throughout; in the introductory paragraph of (b), inserted “referral agent or”; in (b)1, inserted a comma following “broker- salesperson”, and inserted the second occurrence of “referral agent,”; in the introductory paragraph of (d), substituted “e-mail” for “E-mail” and inserted “referral agent,”; in (d)1, substituted “Referral agents, salespersons” for “Salespersons”; in (e), inserted the first sentence; and added (s) and (t).
11:5-6.2 Contracts of sale, leases and listing agreements
(a) The following paragraphs specify licensees’ obligations to obtain written confirmation of the intentions of, and to deliver copies of documents to, parties to a real estate transaction.
1. Where a licensee memorializes the terms of an offer or counter-offer on a writing which will itself become an “instrument” as defined in (a)3 below, the licensee shall deliver to the maker of such an offer or counter-offer a clear copy of the executed offer or counter-offer immediately upon its being signed, and initialed if necessary as provided in this section, by the maker of the offer or counter-offer. Any addition, deletion, or other change in any such offer or counter-offer shall be initialed by the party proposing such a revision and, if accepted, by the other party to the transaction.
2. Where a licensee records the terms of an offer or counteroffer on a writing which is not intended to be binding upon either party, and which so states on its face, in the event that the licensee secures the signature and/or initials of any party on such a writing, the licensee shall provide to the signing and/ or initialing party a clear copy of the writing as signed and/or initialed by them.
3. As used in this subsection, the term “instrument” means any complete and fully executed written contract of sale, lease, option agreement, or other writing affecting an interest in real estate, or any complete and fully executed addendum or amendment to any such contract, lease, option agreement or writing. The term instrument as used in this subsection does not include listing agreements and buyer brokerage agreements.
4. Licensees shall immediately deliver to all parties to any fully executed instrument a clear copy with original signatures