All brokers, sales persons, and broker-salespersons in New Jersey have gone through strict evaluation and an examination conducted by the Real Estate Commission (REC). Created in 1921, this is the official licensing authority of the state. All applicants are needed to fulfill educational obligations as well as license examination under the supervision of the REC. The Commission not only provides licenses to those who pass the exam, but is also given the power to revoke permits if an individual or group violates the license law. The housing market in New Jersey may have struggled for the past few years, but it is steadily gaining momentum in generating a more successful market. The future is promising, which is why more and more students and aspiring agents take up real estate classes in NJ.
The New Jersey REC requires an applicant to complete at least 75 hours to 150 hours of pre-licensure course. A licensed school is a requirement alongside with the passing of the license examination. Apart from finishing the real estate course for a short period of time, usually within a week to two months, the student can look into the fact that New Jersey homes have maintained their long-term values. The decreasing costs for residential properties do not seem to affect the state’s local markets.
After obtaining a license, various professions, trades, and careers are available. These include entry-level occupations, brokerages, appraisers, consultant, and even advanced office positions. Aside from many job opportunities, Forbes has listed the property industry as one of the happiest trades to work in at the present time. Following Management of Companies and Enterprises, Real Estate and Rental and Leasing takes the number two spot with a score of 3.908.
JPMorgan, one of the largest financial institutions in the United States, has said that the housing market, which was unprofitable for many years, has suddenly turned the corner. Their mortgage business has increased more than 30% before the end of last year. It is therefore expected that this upsurge will continue this year, particularly in New Jersey. This is why now is the perfect time to start taking up NJ real estate courses.
The REC is currently administering over 84,000 real estate sales people in New Jersey. There are also approximately 8,000 brokers in the state at present. Note that there is a need to take additional classes to renew your license in accordance with the licensing laws of New Jersey.
Article by Marianne James