New Jersey Real Estate 80 Exam Prep Questions And Answers

Mark, a licensed broker, procures a ready, willing, and able buyer for his seller-principal. The seller accepts the buyer's offer in writing. Just before the schedule closing, the seller has a change of heart and refuses to sell. Mark - ️️is entitle to collect a full commission A real estate company has entered into agency agreements with both a seller and a buyer. The buyer is interested in making an offer on the seller's property. Can this occur? - ️️Yes, if the buyer and seller both give written consent to dual agency A seller's listing agreement has expired, and the seller lists with a different brokerage firm. Jim, the original listing agent, now has a buyer interested in the seller's property. Based on this information, Jim - ️️cannot disclose to the buyer information about the physical condition of the property A real estate sales person has been working with buyers. After helping them negotiate for their dream home, the buyers asks the salesperson if she can help them secure a mortgage. The salesperson knows a lender that pays a fee for referring purchasers to it. Should the salesperson refer the buyers to this lender? - ️️No, because license law prohibits it. A buyer contacts a real estate office and indicates an interest in purchasing a home in the area. Without entering into a buyer agency relationship with the buyer, a salesperson from the real estate office can do all of the following EXCEPT - ️️Advise the buyer to try making a low offer on the property A buyer prospect is interested in seeing a house listed with the real estate company, but does not wish to enter into a buyer agency agreement. A salesperson from the real estate company can show the buyer an in-house-listing if the - ️️Salesperson provides the buyer with a Consumer Information Statement. An exclusive-right-to-buy contract - ️️Must be indicated as such in the buyer agency agreement