New Jersey License Law
A licensed New Jersey broker who acts as a principal (buyer or seller) in a transaction must:
ADisclose their licensed status to the other party✓ Correct
BObtain NJREC approval before buying or selling
CUse a different broker for all transactions
DSuspend their license during the transaction
Explanation
When a NJ licensee acts as a principal (buying or selling for themselves), they must disclose their licensed status to the other party. This transparency allows the other party to make informed decisions knowing they are dealing with a real estate professional.
Related New Jersey New Jersey License Law Questions
- Commingling in New Jersey real estate refers to:
- A NJ licensee who receives a gift card from a buyer's lender for a referral is:
- Which state agency regulates real estate licenses in New Jersey?
- Which of the following best describes the role of the NJREC?
- A NJ broker who is found to have paid a referral fee to an unlicensed person for steering a client to the broker may be subject to:
- Under NJ license law, a person who acts as a real estate broker without a license is subject to:
- Which of the following individuals is EXEMPT from the NJ real estate licensing requirement?
- A NJ licensee who receives written confirmation from the NJREC that their license renewal has been processed is now authorized to:
Practice More New Jersey Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New Jersey Quiz →