Agency
A listing agent who learns the sellers are willing to accept $20,000 less than the asking price:
AMust disclose this to any interested buyer immediately
BShould record it in the MLS
CMust keep it confidential from buyers as a fiduciary duty to the seller✓ Correct
DMay disclose it to dual agents only
Explanation
A listing agent owes confidentiality to the seller; disclosing the seller's minimum acceptable price would breach that fiduciary duty.
Related New Jersey Agency Questions
- In NJ, a 'procuring cause' dispute typically arises when:
- In NJ, a seller's agent may share the seller's confidential bottom-line price with a buyer only if:
- A New Jersey salesperson who is also a licensed mortgage broker in the same transaction must:
- A NJ broker who represents both the buyer and seller in the same transaction without prior written consent is practicing:
- A NJ real estate agent who markets a property by describing it as 'in a great neighborhood for families' could be:
- A NJ seller's agent who negotiates an offer and does NOT disclose to the buyer that the home's basement floods during heavy rain has potentially committed:
- Under New Jersey agency law, a subagent is:
- In NJ, a transaction that involves a broker's own property (the broker is the seller or buyer) requires the broker 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 →