Are there any special requirements for licensees to market registered properties?
Yes. A registrant must designate a currently licensed New Jersey broker as a “Broker of Record” in the initial registration application. The registrant may also designate additional or “Supplemental Brokers” to offer and market the registered property in New Jersey. There is no fee for adding or substituting brokers. All “Authorized Brokers” are issued a special license known as a “Broker’s Release”. Only “Authorized Brokers” may offer regulated property in New Jersey. Brokers should ascertain the status of a project before offering or advertising any regulated properties in New Jersey. Applicants filing a Secondary Registration application do not have to designate an authorized broker, but their marketing activities in New Jersey are still subject to New Jersey Real Estate Licensing requirements.
