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Frequently Asked Questions 

  • What are the basic eligibility requirements for NJ real estate licensure?
    18 years of age or older High School Diploma or equivalent Proof of Citizenship Social Security Card Valid Driver's License & Auto Insurance Policy Possess Good Character
  • What are the hours for the Pre-Licensing Course?
    The State of New Jersey requires students to complete 75-hours for pre-licensing. Classroom hours are 9:00am - 4:30pm (including breaks and lunch) for two straight weeks, and there is homework after each day of class. We cover 3-4 chapters from the study book each day. There's A LOT to cover and your Instructor will keep you focused on what you need to know to pass the State Exam.
  • Can you talk about the initial start up costs?
    Sure! Following are the start up costs: PRE-LICENSING FEES* $399 75 Hour NJ Real Estate Pre-Licensing Course $38 PSI Real Estate Exam Fee $78 Fingerprinting Fee $160 NJ Real Estate License Fee & Application $675 Total Pre-Licensing Fees AFTER-LICENSING FEES* $530 Annual Association Fees (National, State, and Local) $125 Annual MLS Fee (required to access MLS listings) $255 Annual Lockbox eKey (required to access properties) $599 Annual Errors & Omissions Insurance $1,509 Total After-Licensing Fees * Fees may be pro-rated and subject to change at anytime. Be sure to speak with your broker about $ponsorship.
  • Okay! I'm ready to start a real estate career, but why Krumpfer Real Estate School?
    We at Krumpfer Real Estate School take pride in that our value goes beyond a great curriculum to help students pass the NJ Real Estate exam on their first try. We guide our students through the entire licensure process from explaining the start-up costs, to getting licensed, to selecting a sponsoring broker. Our goal is to ensure that all our students succeed in Real Estate.
  • What methods of credit payment do you accept?
    We accept all major credit cards, including Visa, Mastercard, Discover, and American Express. We also have Apple Pay connectivity.
  • Do your Instructors have experience selling Real Estate in New Jersey?
    Yes! Krumpfer Real Estate School's Instructors are Broker-Salespersons actively selling Real Estate in New Jersey. The school's Founder, Joe Krumpfer is also a Broker of Record. So, our students get the benefit of years of experience applied to the subject matter. This is something that sets us apart from most of the online school, where the Instructors are from out-of-state.
  • Can you explain the process that I will need to complete in order to become licensed in NJ?
    Sure! Here are the steps (your Instructor will explain): Complete the required 75-hour NJ Pre-Licensing course. Register for the NJ Real Estate exam through PSI Exams (your Instructor will explain how). Interview NJ Real Estate Brokers (your Instructor will explain what to ask and how to differentiate your options). Take the NJ Real Estate exam. Apply for a license through your sponsoring NJ Real Estate Broker. Receive a NJ Real Estate exam "Pass" notice from PSI Exams. Get fingerprinted by IdentoGO (background search for the Real Estate Commission). Submit your "Pass" notice, IndentoGO receipt, and $160 check (license fee) to your sponsoring Broker. Your Broker will submit to NJDOBI request to activate your NJ license. Execute an Independent Contractor Agreement with your sponsoring Broker (NJ REALTORS form 134-8/15). Join the necessary associations and services (your Broker will guide you).
  • How do I choose a Real Estate Broker?
    That's a Great Question! You must apply for your license through a sponsoring NJ Real Estate Broker. The “Sponsorship” can be just that; a Broker accepting you on their team. Interviewing Brokers is extremely important. This is your chance to find out "what's in it for YOU". Don't get too focused on the "Commission" split. You first need to get licensed and then you're going to need help getting started. You should focus on what you'll have to pay for as much as how much you'll make. So, focus on the "Net to Agent". . .how much will you make after ALL brokerage deductions and fees. Start your interview asking questions about what assistance the Broker can offer you to get started. Remember, “nothing is free” and Brokers won’t know how successful you’ll be in Real Estate. But if you are impressive, you may be considered for an incentive, advance, reimbursement, bonus, or “in kind” benefits, often linked to your first transaction commission. Some examples include. . . Monetary: Pre-Licensing Course Discount Payment of the State licensing fee 1st Transaction Bonus E&O Coverage Broker-Paid Training and/or Mentorship programs Broker-Paid Leads Broker-Paid Marketing In Kind: You may be offered an opportunity to spend a day in the life of an experienced Agent BEFORE you commit to a career in Real Estate to see if it’s what you’re looking for. You may be offered an opportunity to attend the Broker’s Team Meeting to witness the environment and culture you can expect. You may be offered an opportunity to begin Training during the licensure process, so you’re ready to begin selling immediately after being licensed. It's important that you interview the Broker, not the other way around.
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