Agency
A listing agreement is a contract between the seller and:
AThe buyer
BThe broker✓ Correct
CThe MLS
DThe NJ Real Estate Commission
Explanation
A listing agreement is a personal services contract between the property owner (seller) and the real estate broker authorizing the broker to market the property.
People Also Study
Related New Jersey Questions
- Termination of a listing agreement in NJ may occur by all of the following EXCEPT:Agency
- Which type of listing agreement gives the greatest protection to the listing broker?Agency
- In New Jersey, a listing agreement between a seller and broker creates what type of agency?Agency
- In NJ, an exclusive right-to-sell listing agreement guarantees the listing broker a commission if:Agency
Key Terms to Know
Listing Agreement
A contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Math Concepts
Study This Topic
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 →