NJ A1938

Prohibits "right-to-list home sale agreements" (contracts giving exclusive rights to list residential property for future sale in exchange for upfront payment) from being enforceable if they exceed five years in duration

Requires all such agreements to include an early termination option allowing the owner to exit the contract for no more than the initial price plus 6% compounded annually for each year elapsed

Mandates that contract duration and early termination terms be displayed in a "clear and conspicuous manner" and comply with existing consumer protection laws

Authorizes the New Jersey Real Estate Commission to suspend, revoke licenses, or impose penalties of up to $5,000 for first violations and $10,000 for subsequent violations for brokers who violate these requirements

Takes effect 30 days after enactment and applies to all contracts delivered, issued, executed, or renewed after the effective date