ASSEMBLY REGULATED PROFESSIONS COMMITTEE
STATEMENT TO
ASSEMBLY, No. 4947
STATE OF NEW JERSEY
DATED: MAY 28, 2026
The Assembly Regulated Professions Committee reports favorably Assembly Bill No. 4947.
This bill revises the continuing education requirements for individuals licensed by the New Jersey Real Estate Commission and makes certain changes to the regulation of continuing education providers, instructors, and courses.
The bill increases, from 30 to 36, the number of continuing education hours required for a salesperson licensed with a real estate referral company to qualify for licensure as a salesperson and increases, from 30 to 45, the number of hours required for a licensed broker, broker-salesperson or salesperson who has been a salesperson licensed with a referral company to qualify for re-licensure as a broker, broker-salesperson, or salesperson.
The bill also increases, from up to 16 hours to 18 hours, the amount of continuing education required as a condition of biennial license renewal for brokers, broker-salespersons, and salespersons, and imposes an additional 2 hours of continuing education in timely topics if the commission determines, prior to each biennial license term, that additional continuing education is necessary for a certain license term. The bill establishes certain topics that are to comprise 14 of the required 18 hours of continuing education for brokers and broker-salespersons and 10 of the required 18 hours for salespersons. At least 2 hours of any of the continuing education topics established by the bill, excluding Real Estate Licensee Safety, are to be completed in an in-person classroom setting or through a live webinar. These requirements do not apply to salespersons licensed with a referral company, who are required under the bill to complete only 2 hours of continuing education in Referral Responsibilities and Legal Updates as a condition of biennial license renewal.
The bill revises the methods of delivery and assessment of continuing education courses. Continuing education courses delivered through a live webinar are to include periodic progress assessments as a condition of receiving credit for attendance, and online, self-paced courses are to include the passage of an examination with a minimum score of 75 percent as a condition of receiving credit for attendance. The commission is not permitted to require the passage of a comprehensive examination as condition of receiving attendance credit for an in-person course.
The bill exempts certain real estate schools from the requirement that a school’s director is to be licensed as a real estate instructor and approved by the commission. Specifically, a real estate school is not required to be under the management and supervision of a licensed real estate instructor if the school provides proof to the commission of at least 20,000 successful completions by real estate licensees of continuing education courses provided by the school in the previous biennial license term.
The bill revises the membership of the Volunteer Advisory Committee to include approved instructors of continuing education courses. A member of the committee approved by the commission as an instructor of continuing education is prohibited from approving the member’s own continuing education course application.
Under the bill, continuing education course providers approved by the commission are required to post a $15,000 bond to the commission, which is to be forfeited if the commission determines that the provider failed to comply with the provisions of the bill. Additionally, continuing education course providers are authorized to approve their own continuing education instructors and courses if the provider provides proof to the commission of at least 20,000 successful completions by real estate licensees of continuing education courses provided by the school in the previous biennial license term. Additionally, individuals applying to the commission for approval as a continuing education instructor are to meet certain educational and experience requirements. To be eligible for reapproval as a continuing education instructor, instructors are required to provide proof of the instruction of two approved continuing education courses in the previous biennial license term.
The bill’s provisions are to apply to biennial real estate license terms commencing on or after the bill’s effective date.