Legal
Consumer information
Practical information for New Jersey real estate consumers: agency relationships, your rights, and where to verify a license or file a complaint.
Understanding who works for whom
In a New Jersey transaction, a licensee may act as a seller's agent, a buyer's agent, a disclosed dual agent, a designated agent or a transaction broker. These are meaningfully different relationships with different duties. Your licensee must explain them at first meaningful contact, before you share confidential information, including, importantly, at an open house.
You may have your own representation
Ask the agent at an open house whom they represent before discussing your budget or negotiating position. If you want your own representation, discuss its scope and compensation with a prospective agent and review the written agreement. Do not assume representation is free or that an agent assisting a visitor is acting for that visitor.
Get it in writing
Agency relationships and compensation arrangements should be documented in writing before substantive work begins. Read what you sign, and ask about the term, the scope, how it can be terminated, and what happens to compensation if you buy or sell through someone else.
Attorney review is your protection
New Jersey gives both parties a three-business-day attorney review period after a realtor-form contract is signed. Use it. Retain an attorney before you go under contract, not after.
Inspections are your responsibility to arrange
Buyers should obtain a general home inspection and, as applicable, radon, wood-destroying insect, underground storage tank, well and septic testing. Choose your own inspector.
Verify licenses
New Jersey real estate licenses can be verified through the New Jersey Real Estate Commission within the Department of Banking and Insurance. Appraisers, home inspectors and mortgage loan originators are licensed separately.
If you have a concern
Raise it with the licensee first, then with the broker of record. Robert Canfield, Broker/Owner, can be reached at info@nhshoresuccess.com or 732-858-9481. Complaints about licensee conduct may also be filed with the New Jersey Real Estate Commission. Housing discrimination complaints may be filed with HUD or the New Jersey Division on Civil Rights.
Protect yourself from wire fraud
Criminals impersonate agents, attorneys and title companies by email to redirect closing funds. Never rely on wire instructions received by email. Always verify by phone using a number you independently obtained, and be suspicious of any last-minute change to instructions.