New Jersey Agency

Overview

The concept of agency, in which licensees represent buyers or sellers (also tenants and landlords) in real estate transactions, is at the heart of real estate. Serving as an agent means that the licensee acts for and on behalf of a client as a fiduciary and always acts in their best interests.

This course reviews the different brokerage relationships permitted in New Jersey, duties owed to the parties in a transaction, and the proper use of brokerage services agreements. This course meets the one-hour agency law CE requirement that New Jersey licensees must complete.

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Objectives

  • Identify the brokerage business relationships allowed in New Jersey
  • Describe the duties licensees owe parties in a real estate transaction under each agency relationship
  • Differentiate between designated agency and dual agency
  • Recognize the purpose of the Consumer Information Statement and when it must be given to buyers and sellers
  • Explain how compensation may be paid under each business relationship
  • Describe the proper use of brokerage service agreements

Designed For:

New Jersey licensees who are renewing their licenses




Course Information

Adding additional credit may change exam requirements.