Jersey bill would let real estate agents get paid through LLCs without rocking broker ties

1Trenton, NJ – A new Assembly bill clarifies that New Jersey real estate salespersons and broker-salespersons can route commissions through their own limited liability companies without changing their relationship with their employing broker.

Sponsored by Assemblyman Sterley S. Stanley of District 18, the measure updates existing statute to reflect common industry practice for tax and liability planning.

The bill also directs the New Jersey Real Estate Commission to set up a registration process for entities that receive commissions on behalf of licensed salespersons and broker-salespersons.

The legislation amends R.S.45:15-16 to state that, notwithstanding other laws or rules, a salesperson or broker-salesperson may form an LLC—or another permitted entity—to receive “commission or oth