New Jersey License Law
A New Jersey licensee is found to have engaged in misrepresentation during a real estate transaction. The NJREC may:
AOnly issue a written warning for a first offense
BSuspend or revoke the license, impose fines, and require restitution✓ Correct
CRefer the matter to the IRS only
DOnly take action if the victim files a criminal complaint
Explanation
The NJREC has broad disciplinary authority including license suspension or revocation, monetary fines, probation, and orders for restitution. Misrepresentation is a serious violation that can result in loss of licensure independent of any criminal proceedings.
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