New Jersey Real Estate Exam Practice Question
A seller is unhappy with the effort being put forth by the listing broker and wishes to terminate the listing and relist the property. The seller has contacted a different broker to discuss the listing. How shall the second broker advise the seller?
Correct Answer: A
Rationale: Option A is the best advice because it emphasizes the principle of mutual agreement in agency relationships. Terminating the listing with the current broker through mutual consent ensures compliance with legal and ethical standards.
Option B is incorrect; while a listing is a unilateral contract, it cannot be terminated unilaterally without potential legal repercussions.
Option C is misleading, as recording a notice of termination is not a standard or legally recognized method for severing a listing agreement.
Option D misrepresents the nature of the listing contract; simply withdrawing from the MLS does not legally terminate the agreement, and doing so may violate the terms of the contract.
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