TRENTON – A measure sponsored by Senate Majority Leader Steve Sweeney, which would require real estate professionals to complete continuing education courses as a condition of their license renewal was approved today (4 to 1) by the Senate Commerce Committee.
“The real estate market crisis of the past few years was caused, in part, by home buyers securing loans and purchasing properties that they simply could not afford,” said Senator Sweeney, D-Gloucester, Cumberland and Salem. “The role of a professional real estate agent is to guide potential buyers, and help them to select the property that best fits their needs, that is also within their price range. As the Federal government continues to work to improve the real estate market, it is imperative that real estate professionals know ins and outs of the market, so that they can best advise their clients on making responsible purchases.”
Senator Sweeney’s bill, S-2068, would require real estate brokers and agents to complete continuing education requirements as a condition of their license renewal. The New Jersey Real Estate Commission would be responsible for determining the course content, and the number of credits needed to gain the biennial license renewal.
“Buying a home is the most expensive purchase that most people ever make, and those purchases should be guided by professionals who have the needs of their clients in mind,” Senator Sweeney said.
This measure now heads to the full Senate for approval.