New Jersey License Law
A NJ real estate broker may accept an offer of employment from a buyer or seller who is in a transaction the broker is working on provided:
AAny employment offer is acceptable
BThis would create a conflict of interest and the broker must disclose it promptly and likely withdraw from the transaction✓ Correct
CThe offer is below $10,000
DNJREC approves the employment in advance
Explanation
Accepting employment from a party to a transaction the broker is handling creates a conflict of interest that compromises the broker's ability to represent their client. NJ license law and ethics require disclosure and likely require withdrawal from the transaction.
Related New Jersey New Jersey License Law Questions
- A NJ licensee who discriminates in any real estate transaction is subject to disciplinary action under NJREC as well as:
- Under NJ law, a real estate broker license requires a minimum of how many years of active sales experience?
- The NJREC may suspend or revoke a real estate license for all of the following EXCEPT:
- In NJ, which of the following is NOT a ground for license revocation or suspension by the NJREC?
- A NJ broker who fails to renew their license within 30 days after expiration must:
- The NJ Consumer Fraud Act applies to real estate transactions and provides remedies including:
- Which state agency regulates real estate licenses in New Jersey?
- A salesperson's license in NJ is issued to the salesperson but is held by:
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 →