NJ Real Estate Licence

[Joe L.]

Hello - I've had my real estate license for a few years now, but the ongoing costs is not beneficial (at the current moment). I would like to park my license somewhere so I don't lose it. Can someone guide me / point me in resources on my options? Many thanks in advance!

[Bruce Lynn]

Check with your state licensing board. In Texas we can go inactive, so no Broker, no selling, no MLS access, but you still have to keep up your education CE hours and such. Same as if you are inactive for a month between brokers, something like that. When you are ready to sell again, you just get the next broker to pick you up and activate your license again. Just ck to make sure this is possible in NJ.

[Peter Tverdov]

I would suggest giving it up and just hire an agent when you are ready to transact in the future.

[Orkeem Davis]

I would suggest not giving it up and place your license with a different brokerage.  In New Jersey, there are numerous brokerages to chose from, and I highly suggest you do a google search and look into 100% virtual real estate brokerages in New Jersey.  Most of these brokerages charge minimum fees to keep your license active while still maintaining your license. Otherwise, you will give another agent all of your future commissions and/or you will have to retake the salesperson exam to obtain your license again. There are more options, but this is sufficient to answer your question.  Best Success!

[Jonathan Greene]

You can put your license in referral at most brokerages and pay no fees and still be able to do referral business. Ask your broker if the brokerage has a referral division and if there are any costs.