New Jersey Real Estate Practice Exam Free 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, which establishes a fiduciary duty to the buyer. This means the buyer-broker must prioritize the buyer's needs throughout the transaction.
Option A is incorrect because a subagent of the listing broker would owe fiduciary duties to the seller, not the buyer.
Option B mischaracterizes the buyer-broker's role; 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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