N.J. Admin. Code § 11:5-3.7

Current through Register Vol. 56, No. 21, November 4, 2024

Section 11:5-3.7 - Employment of salesperson or referral agent sponsored by broker

(a) No broker shall knowingly sponsor an applicant for licensure as a real estate salesperson or referral agent who does not bear a good reputation for honesty and fair dealings.

(b) An application for licensure or renewal of licensure as a referral agent shall include a certification signed by the licensed real estate broker by whom the applicant is or will be employed confirming:

1. The broker and the applicant have reviewed the restrictions imposed by law upon the activities of a referral agent; and

2. The applicant or referral agent has acknowledged that he or she is aware that the activities of a referral agent are limited to referring prospective consumers of real estate brokerage services only as set forth in 11:5-6.1 0(a)2.

(c) Applications for licensure as a referral agent other than renewal applications shall also contain a certification signed by the applicant confirming the statements in (b)1 and 2 above.

N.J. Admin. Code § 11:5-3.7

As amended, R.1983 d.471, effective 11/7/1983.
See: 15 N.J.R. 1343(a), 15 N.J.R. 1865(c).
"Salesman" replaced by "salesperson".
Amended by R.1998 d.497, effective 10/5/1998.
See: 30 N.J.R. 2333(a), 30 N.J.R. 3646(a).
Rewrote (a); and deleted former (b).
Amended by R.2012 d.006, effective 1/3/2012.
See: 43 N.J.R. 1791(a), 44 N.J.R. 86(b).
Section was "Employment of salesperson sponsored by broker". Inserted designation (a); in (a), inserted "referral agent"; and added (b) and (c).