N.J. Stat. § 45:15-3.1

Current through L. 2024, c. 87.
Section 45:15-3.1 - Payment of referral fee, commission to person licensed in another jurisdiction

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.

N.J.S. § 45:15-3.1

L.1979, c.322, s.1; amended 1993, c.51, s.4.