Important Information Regarding Tenant Home Representation - What Tenants Need to Know.

On August 17, 2024, The New Jersey Real Estate Consumer Protection Enhancement Act became law and introduced the Exclusive Brokerage Services Agreements (Tenant Agency Agreement) in most cases, the agreement is mandatory and must be executed between a prospective tenant and a licensed real estate agent prior to any agent showing any prospective tenant a property which is either for sale or for rent.  If you are seeking to lease in New Jersey, having an understanding of this agreement is critical in helping you make informed decisions.  This Agreement became law in New Jersey and is part of a nationwide requirement of many real estate professionals as part of a lawsuit settlement related to real estate broker commissions.