Don't let your NJ Real Estate License Expire
It’s hard understanding New Jersey real estate license deadlines. Today we’ll share how we check on the status of a real estate license and how you can prevent an inactive license from expiring.
First thing to note: inactive is not the same as expired and reactivation is not the same as reinstatement. We’ll cover each scenario below.
Inactive vs. Expired
When an inactive license sits for long enough, it will expire and the agent can only become active again after completing the 75 hours of coursework required for all new licensees. Hopefully this hasn’t happened to you, but the next section will help you understand what the options are for an inactive license.
Why is my License Inactive?
A license usually becomes inactive under two scenarios: (i) you fail to complete your biennial renewal with the state or (ii) a broker notifies the state to terminate your license affiliation with the brokerage.
Don’t confuse failing to renew a Realtor board membership or MLS membership with failing to renew with the state. Someone can be licensed without a board or MLS, but everyone needs the New Jersey Real Estate Commission.
The way your license becomes inactive has direct implications for the options available to maintain the license going forward.
Reactivation vs. Reinstatement
Reinstatement
If your license went inactive because you missed a renewal deadline (June 30th of odd numbered years), you have two years to reinstate your license. The State of New Jersey will charge you a $150 reinstatement fee. The easiest way to reinstate a real estate license is by becoming a referral agent, as there is no continuing education to catch up on.
Reactivation
If your license went inactive because it was terminated by your former broker, you have two years from the next renewal period to reinstate your license, but the difference is that you are also able to reactivate your license before the start of the next renewal period. This definitely saves you money on the reinstatement fee, however you will be subject to the state’s $25 license transfer fee.
Here is how to find your license status online…
What’s my License Status?
Fortunately, the State of New Jersey publishes information online about all licensed real estate agents. Here’s how to check your license status:
1. Go to the NJREC Licensee Search & enter your name to find your license.
2. Then click “INACTIVE” to see license status details.
3. Next write down your “Reinstate by” date. This is when your license actually expires (i.e. after this date you would be required to take the 75 hour course to become an active real estate agent again).
The “Reinstate by” date is important. You can see that our example license above is actually expiring more than two years from the date we’re publishing this article (05/24/2019). That means this agent can reactivate their license and avoid a reactivation fee if they become active before the next biennial renewal date (6/30/2019).
Although it’s a bit more costly, since the “Reinstate By” date is 6/30/2021, this person will also have the opportunity to reinstate their license at any time between July 1st of 2019 and June 30th of 2021, subject to the $150 reinstatement fee.
Hope that clears a few things up. Still have questions about your license? Contact us any time!