I understand that New Jersey is one of the few states in the USA which does not currently have regulations which require Realtors to attend educational classes as a requirement for relicensing. There has been a lot of talk lately about this topic.
The number of Realtors has essentially doubled in Cape May County over the last 5 years. An unofficial estimate has 1 Realtor for every 24 full time residents in Cape May County. There seemed to be plenty of business for everyone while the market was in the midst of a mania until about 18 months ago. However over time, everything seems to revert to the norm. The real estate market is no exception.

There is a local as well as a statewide movement to attempt to make continued education a requirement for relicensing real estate agents. Currently, they need to renew their license every 2 years. A growing number of Realtors feel that their ranks would thin if the State imposed educational requirements similar to other NJ licensed professionals. Title Agents such as myself need to attend classes to acquire CE credits for relicensing. That amounts to the equivalent of 12 hours per year at approximately $25 to $35 per credit (hour). The time and cost (and effort) associated with the CE movement could possibly discourage some Realtors from renewing at the end of their 2 year cycle, especially if you add on the local, state and MLS fees.
Locally, the Cape May County Association of Realtors (CMCAR) has embarked on their Career Enhancement Program (CEP). They hope that this early initiative will become the role model for a continued education program for the entire state. Also, the state could see the program as a revenue source which could help with our current budget woes.

I happened to be a guest speaker at the first CEP day for the CMCAR. There were about 50 brokers and agents in attendance. It was wonderful to see a room full of local professionals who were there to support their Association, as well as to support themselves. The combination of the dedicated individuals on the Board who authorized this program, together with the motivated members who see the benefits of the program ensure that the time has likely come for continued education requirements for Realtors in NJ.
Real estate agents in EVERY state should be required to take continuing ed for licensing renewal. It's one good way to help improve the quality of the agents and protect the consumer.