Contracts
Under NJ law, a real estate broker earns their commission when:
AThe listing agreement is signed
BThe broker produces a ready, willing, and able buyer on the seller's terms (unless the contract specifies commission is due only at closing)✓ Correct
CThe seller accepts any offer
DThe buyer secures financing
Explanation
Under the traditional majority rule, a broker earns commission when they produce a ready, willing, and able buyer meeting the seller's terms. However, many NJ contracts now specify the commission is earned only upon closing and receipt of proceeds.
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