Revises out-of-State reciprocity for real estate licensees.

This bill allows New Jersey to grant real estate licenses without exams to professionals from other states who hold active licenses there, provided those states offer equal reciprocity and have licensing standards comparable to New Jersey's. It directly affects out-of-state real estate brokers, broker-salespersons, and salespersons seeking to practice in New Jersey. The New Jersey Real Estate Commission must grant these licenses under these conditions, and the rule applies to applications received on or after July 1, 2026. The bill does not change existing licensing requirements for New Jersey residents.