New Jersey Real Estate License Exam Practice Question
A buyer-broker locates a property that is listed with another broker. The buyer makes an offer through the buyer-broker and an agreement of sale results. In this situation, the buyer-broker is acting as a:
Correct Answer: C
Rationale: In this scenario, the buyer-broker represents the buyer's interests, ensuring their needs and preferences are prioritized throughout the transaction. This role inherently involves fiduciary responsibilities to the buyer, including loyalty and confidentiality.
Option A is incorrect because the buyer-broker is not acting as a subagent of the listing broker; instead, they represent the buyer. Option B mischaracterizes the relationship; a referring broker typically does not engage in negotiations or represent the buyer directly. Option D is also incorrect, as it suggests the buyer-broker represents the seller, which contradicts the established relationship with the buyer.
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