Current New Jersey Real Estate Income, Sales, and Trends

The earnings of real estate agents in New Jersey vary based on factors such as experience level, market conditions within the real estate industry, and geographic location. That said, popular job recruitment websites indicate that the average yearly salary for NJ real estate agents usually falls between $60,000 and $90,000.

According to the Bureau of Labor Statistics, real estate agents in New Jersey typically earn an income of $66,800 per year.

It is worth noting that successful agents can potentially earn over $100,000 annually by working with brokerages in bustling metro areas such as Newark and Jersey City. In fact, the annual median wage for real estate agents in these cities can reach as high as $196,910.

It’s important to keep in mind that reaching this level of income requires time and effort to establish a business foundation.

A significant portion of your earnings will come from commissions and bonus structures; therefore, having a higher sales volume translates to higher earning potential. This emphasizes the importance of prospecting for clients, generating leads, and building a network within the industry.

While it’s common for new agents to start with low incomes as they gain experience and clientele during their 1 to 3 years in the field, it is certainly possible to achieve a six-figure income, within 5 to 10 years.

Real Estate License Extension and Interstate License Compatibility in New Jersey

Once earned, you must renew your real estate license every two years and complete continuing education to keep it active in New Jersey.¹ Stay up-to-date on all state requirements.

Renewing Your Real Estate License

New Jersey real estate licenses expire every two years on June 30th of odd-numbered years. To renew on time, you must:

• Complete 12 hours of NJREC-approved continuing education²
• Personally attest to meeting renewal requirements online by answering the Qualifying Questionnaire³
• Pay the $200 renewal fee to the NJREC

Elect to renew online through the NJREC licensee portal for discounted pricing and faster processing.

Licenses that expire in less than 2 years can be reinstated by completing outstanding continuing education and paying a $250 late renewal fee.⁴ However, licenses expired for 2+ years require starting over as a new licensee.

Completing Continuing Education

Active New Jersey real estate agents must complete continuing education to renew their licenses every two years. You need 12 hours of NJREC-approved courses including:⁷

• At least 2 hours in an ethics course
• At least 1 hour in a Fair Housing course
• More than 4 hours in other core topics like agency, disclosure, and license laws
• The remaining hours can be core subjects or approved electives

Report your completed continuing education hours by April 30th of each renewal year. Then pay your renewal fee by June 30th to remain active.

Transferring an Out-Of-State Real Estate License

New Jersey real estate licenses do NOT have reciprocity with any other state. In most cases, you must follow the full New Jersey licensing process even if actively licensed elsewhere.

The only exception is licensees from Florida, New York, and Pennsylvania can request an education waiver through the NJREC.⁵ This potentially waives all or some pre-licensing education.

However, you still must pass the full licensing exam and meet all other New Jersey application requirements. There is no true license reciprocity.

New Jersey is also a “turf state” meaning out-of-state agents cannot conduct business with NJ-based clients without referring them to a licensee. The only way for non-NJ agents to work directly with Garden State clients is by obtaining a valid New Jersey real estate license.