New Jersey License Law
Under NJ license law, which of the following acts constitutes 'net listing,' which is prohibited by NJREC?
AA listing where the commission is a flat fee
BA listing where the broker keeps everything above a specified net price to the seller✓ Correct
CA listing that expires after 90 days
DA listing shared between two brokers
Explanation
A net listing—where the broker's commission is the amount by which the sale price exceeds a specified net to the seller—is discouraged in NJ because it creates a conflict of interest that may cause the broker to act against the seller's interests.
Related New Jersey New Jersey License Law Questions
- A NJ real estate broker must provide a written agency disclosure BEFORE entering into a listing agreement. This requirement is established by:
- Under NJ license law, a broker who withdraws an offer on behalf of their buyer before the seller communicates acceptance:
- Under NJ's reciprocity provisions, a licensed real estate professional from certain other states may obtain a NJ license by:
- NJ real estate advertising rules require that all advertising be:
- A NJ real estate licensee may advertise their services using the term 'Realtor®' only if they are:
- A NJ licensee who receives written confirmation from the NJREC that their license renewal has been processed is now authorized to:
- A NJ broker who sponsors a team event involving unlicensed support staff must ensure that unlicensed personnel do NOT:
- A NJ real estate broker who allows their salesperson to sign their own name to a listing contract as the listing broker is:
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 →