New Jersey License Law
Under NJ law, a referral fee may be paid to an unlicensed person for referring a client to a licensee:
AIf the referral results in a completed transaction
BIf both parties agree in writing
CNever — referral fees to unlicensed persons are prohibited✓ Correct
DIf the amount is under $500
Explanation
NJ law prohibits paying referral fees, finder's fees, or any compensation for real estate services to unlicensed persons.
Related New Jersey New Jersey License Law Questions
- What is the minimum age requirement to obtain a New Jersey real estate salesperson license?
- Which of the following individuals is EXEMPT from the NJ real estate licensing requirement?
- A NJ real estate salesperson may NOT do which of the following without broker supervision?
- A NJ real estate licensee may advertise their services using the term 'Realtor®' only if they are:
- Under the NJ License Act, a 'referral agent' license allows a licensee to:
- A NJ licensee who believes they are being asked to violate the law by their employing broker should FIRST:
- When a NJ real estate salesperson's employing broker suspends business operations without proper notification, the salesperson should:
- Under NJREC rules, which of the following is an acceptable method of handling disputed earnest money when buyer and seller disagree?
Practice More New Jersey Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New Jersey Quiz →