FYI

Benefits of owning a home


-Despite recent slowdowns in some markets, housing remains a good long-term investment, and demographic demand favors housing over the long term.

-Homeownership offers immediate benefits and long-term value. Homeowners accumulate wealth for the future while enjoying the benefits of a shelter that they can use, improve and sell.

-Many buyers know that homeownership is an investment in their future. More than three-quarters of all recent buyers believed their home purchase was at least as good as an investment in stocks.

-According to the 2007 NAR Profile of Home Buyers and Sellers, first-time home buyers made a median downpayment of 2 percent, while repeat buyers who financed their purchase put 16 percent down, indicating the wealth-building effect of homeownership.

- From the National Association of Realtors website: http://www.realtor.org/

Obtaining a New Jersey Real Estate License



The New Jersey Real Estate Commission (REC) is the real estate licensing authority. The Commission administers and enforces New Jersey's real estate licensing law and regulations adopted by the Commission. All applicants for licensure as a broker, salesperson or broker-salesperson must fulfill the educational requirements for licensure established by law, and pass an examination conducted under the supervision of the Commission. The Commission is empowered to revoke licenses and/or otherwise sanction individuals and firms for violations of the license law.

Following is a general description of the requirements for licensure as a New Jersey salesperson. For a full description of the REC's requirements visit http://www.state.nj.us/dobi/division_rec/licensing/reclicrequire.htm

Salesperson's License:
To qualify for a real estate salesperson's license an applicant must be 18 years of age or older, have a high school education or equivalency, complete a 75 hour prelicensure course at a licensed school and pass the license examination. After successfully completing the course and passing the examination, the applicant must apply for a license through a sponsoring real estate broker.

- From the New Jersey Association of Realtors website: http://www.njar.com/license.html