Real Estate Basics
What is the minimum age to obtain a New Jersey real estate license?
18
What federal law requires disclosure of lead-based paint in homes built before 1978?
Residential Lead-Based Paint Hazard Reduction Act (1992)
Which Jersey Shore town is consistently ranked as having the highest median home price in New Jersey?
Avalon
Which Cape May County town hosts the annual “NJ State Barbecue Championship & Blues Festival”?
North Wildwood
Which body regulates real estate licensing throughout New Jersey, including South Jersey?
NJ Real Estate Commission
In New Jersey, how many days does a buyer typically have to complete inspections after the attorney review period?
10 calendar days
Within 10 years (+/-), in what year was the Ocean City Boardwalk first constructed?
1880
What annual summer event draws thousands to Atlantic City’s beaches for an aerial show?
Atlantic City Airshow (“Thunder Over the Boardwalk”)
How many pre-licensing education hours are required for a New Jersey salesperson license?
75 Hours
What is the New Jersey "Mansion Tax" threshold and rate?
Applies to homes priced at $1,000,000 or more; taxed at 1%
Which Cape May County town has an ordinance banning the sale of alcohol, making it a “dry town” despite being a popular resort market?
Ocean City
Cape May is known for what type of historic seasonal home tours?
Victorian Christmas Candlelight tours
How often (and in what month) must New Jersey real estate licenses be renewed?
Every 2 years, in June
As of 2024, which additional protected class was added to NJ Fair Housing law (relevant to South Jersey landlords and agents)?
“Source of Income”
The Cape May Historic District, famous for its Victorian homes and strong seasonal rental market, was designated a National Historic Landmark in what year?
1976
Which South Jersey town recently debated tighter short-term rental (Airbnb) restrictions?
Ocean City
How many continuing education credits must New Jersey real estate agents complete per renewal cycle?
12 Credits, bi annually
What would the NJ mansion be on a $4,000,000 home?
$140,000 ($4M * 3.5%)
Long Beach Island is divided into multiple municipalities. Which six towns/boroughs make up LBI’s real estate market? Give me 4...
Barnegat Light, Harvey Cedars, Long Beach Township, Ship Bottom, Surf City, and Beach Haven
What major development project is being eyed to revitalize Atlantic City and spur real estate demand?
$100M Boardwalk Revitalization/Entertainment District (proposed)