New Jersey Administrative Code
Title 11 - INSURANCE
Chapter 5 - REAL ESTATE COMMISSION
Subchapter 6 - CONDUCT OF BUSINESS
Section 11:5-6.6 - Participation in trade associations or listing services
Universal Citation: NJ Admin Code 11:5-6.6
Current through Register Vol. 56, No. 6, March 18, 2024
(a) No licensed individual, partnership, firm or corporation shall become a member of or otherwise participate in the activities or operation of any trade association or organization or of any multiple listing service operation which engages in the following policies and practices:
1.
Places requirements, obligations, or standards upon licensed members or
participants which conflict with the Real Estate License Act,
45:15-1 et seq., the Real Estate
Sales Full Disclosure Act,
45:15-16.2 7 et seq., the New
Jersey Antitrust Act,
56:9-1 et seq., or the New Jersey
Law Against Discrimination,
10:5-1 et seq., or which otherwise
relate to the comprehensive scheme of regulation already preempted by the State
of New Jersey.
2. Interferes with
the licensee's obligation of fidelity to his client's interests, his obligation
of dealing fairly with all other parties in a transaction, or his obligation of
fully cooperating with any other New Jersey licensee, as more fully set forth
in 11:5-6.4;
3. Directly or indirectly imposes or attempts
to impose prescribed or predetermined fees or commission rates or commission
amounts, or prescribed or predetermined commission splits, between the listing
broker and the selling broker.
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