Agency
A NJ broker who represents both the buyer and seller in the same transaction without prior written consent is practicing:
ALegal dual agency
BUndisclosed dual agency, which is illegal and a violation of NJREC regulations✓ Correct
CDesignated agency
DSubagency
Explanation
Undisclosed dual agency is illegal in NJ. A broker who represents both buyer and seller in the same transaction without obtaining written informed consent from both parties violates NJREC regulations and breaches fiduciary duty to both clients.
Related New Jersey Agency Questions
- A New Jersey salesperson who receives an offer on a listing has a duty to:
- A New Jersey buyer's agent who has buyer clients interested in a property also listed by their firm has a potential:
- In NJ, a licensee who knowingly participates in a transaction they suspect involves money laundering may be subject to:
- A NJ licensee who is the agent for a buyer and discovers the buyer is planning to use the property for an illegal purpose should:
- A buyer's representative agreement (buyer-broker agreement) in NJ is:
- Under New Jersey law, the duty of 'obedience' in a fiduciary relationship requires the agent to:
- When must a NJ licensee disclose their agency relationship in writing?
- A latent defect is one that:
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 →