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Friday, 15 November 2013


By Milton Donovan

Investing or selling real estate will probably the largest transaction you will undertake. In addition to the enormous financial commitment, real estate buyers and sellers face numerous details and a lapful of paperwork, much of which has been drafted in indecipherable legalese. It is indeed a difficult task for an individual to handle and fulfill these formalities successfully and without any complications on his own. With so much at stake, it is always advisable to hire a real estate lawyer to handle real estate transactions and deals.

Real estate lawyers have expertise and regular practice in the field of wills, trusts, probate and estate planning. These lawyers can be the best guides to give you sound legal advice as you put your estate selling or buying plan into place.

Tip: Choosing an accredited school is an important decision; students should take care to get references from people active in the business, and whenever possible, listen to the instructor teach before registering for classes at any particular school.

2. Once students have successfully completed the prelicensure course, they are eligible to sit for the NJ Salesperson's Licensing Exam. The exam is currently administered by a testing company called PSI Exams. Students must pass this computerized exam with a 70% or better. The exam is graded immediately and candidates are told whether they have passed or failed the exam before leaving the testing center. A PSI Score Report will be issued accordingly - candidates receive either a "pass notice" or a report indicating which subject areas they need to improve.

The opening of the Kearney Connection would further boost the value of Short Hills New Jesrey real estate since it would facilitate a direct Manhattan rail link.

3. After passing the State Exam, candidates need to schedule an appointment with a company called Sagem Morpho to have their fingerprints taken electronically for the purpose of a criminal history record check. Candidates receive paperwork and a receipt on-site after completing their appointment.

Tip: Your fingerprints are only good for 90 days, so do not schedule an appointment for fingerprints until AFTER you have passed the State Exam!

4. After completing steps 1 - 3 noted above, candidates may bring their PSI Score Report and Sagem Morpho paperwork & receipt to their future real estate brokerage company (i.e., the company for whom the candidate intends to work)... the brokerage will in turn submit the candidate's application to the NJREC for review.

Tip: It is NOT legal to work as a Salesperson until a Salesperson's license has been issued by the State of NJ. Candidates receive their actual license from the State via mail in approximately 7 to 10 business days.

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