ASSEMBLY REGULATED PROFESSIONS COMMITTEE

STATEMENT TO

ASSEMBLY, No. 5978

STATE OF NEW JERSEY

DATED:  DECEMBER 11, 2025

      The Assembly Regulated Professions Committee reports favorably Assembly Bill No. 5978.

     This bill updates New Jersey law addressing the compensation of a real estate salesperson or broker-salesperson who has created a limited liability company pursuant to State law.  Currently, no real estate salesperson or broker-salesperson can accept a commission or valuable consideration from any person except the employer or licensed broker with whom the salesperson or broker-salesperson is under contract.  The bill clarifies that a real estate salesperson or broker-salesperson may accept the commission or other valuable consideration from the limited liability company or other entity without affecting the business affiliation between a broker and salesperson or broker-salesperson defined in the written agreement between the broker and salesperson or broker-salesperson.