New Jersey Real Estate License Exam 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 is accurate as brokers can represent either party in a real estate transaction, including buyers. This flexibility allows buyers to receive professional guidance in their home purchase.
B is misleading; while a buyer can pay the broker, it is not a requirement for representation. Brokers can also be compensated by sellers, making this option too restrictive.
C incorrectly implies that participation in the MLS affects a broker's ability to represent buyers. Brokers can represent buyers regardless of MLS involvement.
D is incorrect; agency laws allow brokers to represent buyers, not just sellers, highlighting the importance of informed representation in real estate transactions.
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