New Jersey Real Estate Brokerage Law

New Jersey Real Estate Brokerage Law covers all of the essential areas that attorneys and real estate licensees must understand in order to navigate the explosive minefield of real estate brokerage law.
Publisher: ALM

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2024 Edition
ISBN: 9781588527738
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ISBN: 9781588527745
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New Jersey Real Estate Brokerage Law covers essentials attorneys and brokers must understand to navigate the explosive minefield of real estate brokerage law. The book, published in cooperation with the New Jersey REALTORS®, covers procedural issues, such as licensing and education requirements, regulations for maintaining offices, and the relationship between brokers and salespersons. It also lays out in a comprehensive fashion all of the disclosures that real estate licensees are required to make, the Real Estate Commission's requirements concerning contracts of sale and leases that real estate licensees prepare, and the advertising rules that govern real estate licensees.

Two separate chapters deal with the activities a real estate licensee is prohibited from engaging in, and the discipline that can face a real estate licensee for violating the Real Estate License Act or any of the Real Estate Commission's regulations that implement the Act. The book also covers the limitations on a real estate licensee's activities so that they will not constitute the unauthorized practice of law, including the attorney-review clause. Other topics covered include trade associations, multiple listing services, arbitration, and the Code of Ethics governing NJ REALTORS® members. Although this book primarily focuses on New Jersey law, there are several federal laws that real estate licensees must follow. Therefore, separate chapters deal with the Real Estate Settlement Procedures Act, the Fair Housing Act, and lead-based paint disclosure requirements.

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Table of contents

Chapter 1: License Required to Provide Real Estate Brokerage Services
Chapter 2: The Relationship Between Brokers and Salespersons
Chapter 3: Agency
Chapter 4: Disclosures to Consumers
Chapter 5: The Unauthorized Practice of Law
Chapter 6: The Attorney-Review Clause
Chapter 7: Listing Agreements
Chapter 8: Broker’s Recovery of Commissions and Other Compensation
Chapter 9: Bases for Broker Liability
Chapter 10: The New Jersey Real Estate Commission
Chapter 11: Education and Licensing Requirements for Brokers, Salespersons and Salespersons Licensed With a Real Estate Referral Company
Chapter 12: Real Estate Schools
Chapter 13: Maintaining Brokerage Offices
Chapter 14: Broker’s Trust Accounts and Recordkeeping
Chapter 15: Trade Associations and Multiple Listing Services
Chapter 16: Real Estate Commission and Other Advertising Rules
Chapter 17: Commission Regulations and Other Requirements Regarding Contracts of Sale and Leases
Chapter 18: Prohibited Activities
Chapter 19: Discipline of Real Estate Licensees
Chapter 20: Disclosure of Off-Site Conditions
Chapter 21: The Real Estate Settlement Procedures Act
Chapter 22: The Fair Housing Act
Chapter 23: Lead-Based Paint Disclosures
Table of Cases
Table of Statutes and Codes