New Jersey License Law
A NJ real estate broker who operates exclusively online (virtual brokerage) must still:
AHave a physical office open to the public
BComply with all NJREC licensing, escrow, supervision, and advertising requirements applicable to traditional brokerages✓ Correct
COnly comply with federal internet regulations
DRegister with the NJ Division of Taxation
Explanation
Virtual brokerages operate under the same NJREC licensing requirements as traditional brokerages. All license law obligations—supervision, escrow management, advertising compliance, consumer protection—apply regardless of the business model.
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