ASSEMBLY REGULATED PROFESSIONS COMMITTEE

STATEMENT TO

ASSEMBLY COMMITTEE SUBSTITUTE FOR

ASSEMBLY, No. 1524

STATE OF NEW JERSEY

DATED:  june 3, 2024

      The Assembly Regulated Professions Committee reports favorably an Assembly Committee Substitute for Assembly Bill No. 1524.

     This Assembly Committee Substitute requires any individual who is not a licensee of the New Jersey Real Estate Commission (commission) who uses text messaging to solicit a home owner regarding the sale of a home to send, prior to a solicitation, a separate text message to the home owner that states the individual is not a licensee of the commission, the name of the employer with whom the individual is employed, and the text is a solicitation.  An individual will incur a penalty of not more than $5,000 for a first violation of the bill, and of not more than $10,000 for any subsequent violation of the bill. 

     The Division of Consumer Affairs in the Department of Law and Public Safety (division) is to develop and undertake a public education program and marketing campaign designed to inform licensees of the commission and home owners of the provisions of the bill.  If the division deems it necessary, the public education program and marketing campaign shall include information concerning issues and fraudulent activity related to text message real estate solicitations by individuals not licensed by the commission, and the assistance available to understand if a real estate broker, broker-salesperson, or salesperson, or purported real estate broker, broker-salesperson, or salesperson, is licensed by the commission.  The public education program and marketing campaign may include a notice of the provisions posted clearly and conspicuously on the Internet website of the division and commission and any other action taken by the division or commission to raise public awareness.