N.J. Admin. Code § 11:5-6.6

Current through Register Vol. 56, No. 8, April 15, 2024

Section 11:5-6.6 - Participation in trade associations or listing services

(a) No licensed individual, partnership, firm or corporation shall become a member of or otherwise participate in the activities or operation of any trade association or organization or of any multiple listing service operation which engages in the following policies and practices:

1. Places requirements, obligations, or standards upon licensed members or participants which conflict with the Real Estate License Act, 45:15-1 et seq., the Real Estate Sales Full Disclosure Act, 45:15-16.2 7 et seq., the New Jersey Antitrust Act, 56:9-1 et seq., or the New Jersey Law Against Discrimination, 10:5-1 et seq., or which otherwise relate to the comprehensive scheme of regulation already preempted by the State of New Jersey.

2. Interferes with the licensee's obligation of fidelity to his client's interests, his obligation of dealing fairly with all other parties in a transaction, or his obligation of fully cooperating with any other New Jersey licensee, as more fully set forth in 11:5-6.4;

3. Directly or indirectly imposes or attempts to impose prescribed or predetermined fees or commission rates or commission amounts, or prescribed or predetermined commission splits, between the listing broker and the selling broker.

N.J. Admin. Code § 11:5-6.6

Amended by R.1979 d.461, effective 11/26/1979.
See: 10 New Jersey Register 499(a), 12 New Jersey Register 44(b).
Amended by R.1998 d.497, effective 10/5/1998.
See: 30 New Jersey Register 2333(a), 30 New Jersey Register 3646(a).
In (a), substituted "Real Estate Sales Full Disclosure Act" for "Land Sales Disclosure Act" and changed an N.J.S.A. reference in 1, and changed N.J.A.C. reference in 2; and deleted a former (b).