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Current as of January 01, 2024 | Updated by Findlaw Staff
A duly licensed real estate broker of this State may pay a referral fee or referral commission to a person not licensed if the person is a licensed real estate broker of another jurisdiction in which the licensed broker maintains a bona fide office. A licensed real estate broker of another jurisdiction may make a referral, receive a referral fee or referral commission, and bring or maintain an action in the courts of this State against a duly licensed real estate broker of this State for the collection of the fee or commission.
For the purposes of this section, “referral” means the introduction, assisting, or directing of a person by one broker to another broker for real estate brokerage services, aid, or information; “referral fee” or “referral commission” means the compensation paid or received for the referral.
Cite this article: FindLaw.com - New Jersey Statutes Title 45. Professions and Occupations 45 § 15-3.1 - last updated January 01, 2024 | https://codes.findlaw.com/nj/title-45-professions-and-occupations/nj-st-sect-45-15-3-1/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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