New Jersey Real Estate Exam Practice Question
A contract in which a licensee is employed by an owner to find a buyer for a 20-unit apartment building is most likely
Correct Answer: B
Rationale: In this scenario, the licensee is tasked with finding a buyer for a property, which aligns with the purpose of a listing contract. This type of contract authorizes the licensee to market the property and represents the owner's interests in the sale.
Option A, an option contract, involves giving a buyer the right to purchase a property at a later date, which does not apply here.
Option C, a property management contract, pertains to managing a property rather than facilitating its sale.
Option D, a contract of sale, occurs after a buyer is found, not during the process of seeking one. Thus, the focus on finding a buyer confirms that a listing contract is the appropriate choice.
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