Our real estate pre-license course is designed to provide the solid foundation that a new real estate licensee needs to be able to ethically represent the interests of citizens of New Jersey. We provide special emphasis on NJ License Law, the Rules of the New Jersey Real Estate Commission, the Law of Agency and of Fair Housing Laws. We provide in depth exposure to real estate mathematics, real estate valuation concepts and mortgage calculations. All of these are designed to empower new agents with the skills they will need to compete and win.
The NJ Real Estate Salesperson exam is administered by PSI Services, LLC. The test consists of 80 general real estate questions and 30 questions regarding NJ License Law, the Rules of the Real Estate Commission, the Law of Agency and Fair Housing laws. The passing score for the state exam is 70% (77 correct answers out of the 110 questions). The state-wide first-attempt pass rate is less than 50%.
The exam is challenging for students for several reasons. First, it covers a very broad range of topics. The real estate vocabulary is very diverse and unfamiliar. And, while none of the concepts are difficult to understand, the shear breadth makes assimilation and recall difficult to master.
Likewise, 15% to 20% of the exam consists of real estate math questions that are allocated among Financing, Valuation and Real Estate Calculations. The questions are not exceptionally difficult for someone who has good high school math skills. However, many students have been away from an academic environment for a long time and have not used these skills recently. Many simply did not have good math skills to begin with.
Our online pre-license course is tailored to accomplish the following objectives:
Our pre-license course is taught Monday through Friday in five-hour increments. Each session is led by an instructor via Zoom. Generally, we cover 2 to 3 chapters per session in a lecture format and Q&A format. An online quiz of 25 to 50 questions is routinely provided at the end of each chapter to evaluate student understanding of the material.
The course content is divided into 4 sections. We conduct an online comprehensive exam of 110 questions after each section to provide feedback to students on the topics where more review and study is needed. These progress tests provide vital feedback that allows students to allocate study time to the most productive topics in the course.
Lastly, we recognize that students learn at different rates. Some students have the background to complete the course in the 3 week scheduled class time. Many students however, require more time and study to gain the skills needed to complete the course and pass the state exam. We welcome those students to attend other school classes and we will provide additional testing as needed. Our most important priority is the success of our students.
Since completing his MBA at the Stanford Business School in 1990, Mr. Racine has held positions that span real estate, mortgage origination, investment management and corporate finance.
He began his career as an investment banker in the real estate department of Goldman, Sachs & Co. As an investment banker at Merrill Lynch & Co., he was involved in various debt, equity and M&A transactions with a focus on the healthcare services industry and eldercare companies in particular. He was a General Partner of Nazem and Company, a venture capital and investment management company and the Co-Chief Investment Officer of Beacon Trust Company in Madison, NJ. After leaving Wall Street, he was the founder, President and Mortgage Banker for Stone Street Mortgage Corp.
Mr. Racine has been licensed as a NJ Real Estate Salesperson since 2003. He has significant experience in real estate investment, residential and commercial real estate sales, residential and commercial mortgage finance, residential real estate development and renovation and multi-family property management. Currently, he is a licensed as a real estate broker-associate with Keller Williams Premier Properties in Summit, NJ and is a Senior Vice President with SunQuest Funding, LLC in Cranford, NJ. He is licensed as a mortgage loan originator by the New Jersey Department of Banking and Insurance and the New York Department of Financial Services.
|Topic||No. Ques.||% of Total|
|NJ License Law, Commission Rules, Fair Housing||30||28%|
|Land Use Controls & Regulation||4||4%|
|Valuation & Market Analysis||6||5%|
|General Principles of Agency||10||9%|
|Leasing & Property Management||3||3%|
|Transfer of Title||7||6%|
|Practise of Real Estate||10||9%|
|Real Estate Calculations||9||8%|