New Jersey Real Estate Practice Exam Free Practice Question
A broker agrees to represent a buyer in purchasing a home, and a contract is signed. Is this an appropriate arrangement?
Correct Answer: A
Rationale: A: This option is accurate as brokers can represent either buyers or sellers in real estate transactions, depending on the agreement established.
B: While a buyer can pay the broker, this arrangement is not a requirement for representation; brokers can also be compensated by sellers.
C: The participation of a broker in the MLS (Multiple Listing Service) does not affect their ability to represent a buyer; representation is based on the agreement, not MLS involvement.
D: This is incorrect; agency laws allow brokers to represent buyers, not just sellers, as long as a contract is in place.
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