N.J. Admin. Code § 11:5-12.13

Current through Register Vol. 56, No. 19, October 7, 2024

Section 11:5-12.13 - Continuing education courses; elective courses

(a) The following are approved topic areas for elective continuing education courses:

1. Commercial real estate;

2. Property management;

3. Seasonal rentals;

4. Requirements of and transactions subject to the Real Estate Sales Full Disclosure Act and the New Jersey Real Estate Timeshare Act;

5. Financing;

6. Land use;

7. Real estate valuation;

8. Foreclosures and short-sale transactions; and

9. Specific aspects of residential real estate transactions.

(b) Continuing education courses offered in the elective topics set forth in (a) above shall be deemed approved by the Commission upon application if they are:

1. Offered by a public adult education program or an accredited college or university that has obtained from the Commission a New Jersey real estate continuing education provider identification number;

2. Courses that are offered by providers who have obtained a New Jersey real estate continuing education provider identification number and that are approved as pre-licensure or continuing education courses in this State in professions related to real estate brokerage, for example, courses approved for prelicensure or continuing education under the New Jersey Residential Mortgage Lending Act, 17:11C-51 et seq. or the Real Estate Appraisers Act, 45:14F-1 et seq.; or

3. Courses for which continuing education credit is conferred for their completion upon real estate licensees by another state, provided that:

i. The course is approved as a continuing education course by the agency exercising regulatory authority over the real estate licensees of the other state;

ii. The course is instructional and contributes to the enhancement of the integrity and/or professional competence of the attending real estate licensees; and

iii. The course provider obtains a New Jersey course provider identification number and provides the Commission or its designee with satisfactory evidence of a licensee's participation in and completion of such course in accordance with 11:5-12.8.

(c) The Commission shall confer credit for the satisfactory completion of a continuing education course offered by an approved provider on a topic deemed of a timely nature which has not previously been approved by the Commission provided that:

1. The course is submitted for approval no later than March 1 of the second year in a biennial license term for real estate licensees and the course is subsequently approved prior to April 30 of that year;

2. The course provider delivers a written statement to licensees prior to their attendance at the course notifying them that the course is pending approval by the Real Estate Commission and, if the course is advertised prior to the time of offering, all advertisements state in a prominent manner that the course is pending approval by the Real Estate Commission; and

3. The course provider provides the Commission or its designee with satisfactory evidence of a licensee's attendance at and completion of such course in accordance with 11:5-12.8 and complies with all other requirements applicable to the providers of continuing education courses as set forth in this subchapter.

N.J. Admin. Code § 11:5-12.13