New Jersey Real Estate Exam Practice Question
A seller wants to include a stipulation in a listing agreement stating that the broker will not cooperate with other licensees. In this situation the broker MUST:
Correct Answer: B
Rationale: In this scenario, the broker must inform the seller that including a stipulation to not cooperate with other licensees is not permissible. This ensures compliance with industry standards and promotes fair competition.
Option A is incorrect because a waiver does not resolve the underlying issue of non-cooperation. Option C, while valid in terms of business strategy, does not address the legal implications of the listing agreement. Option D is also wrong, as crossing out references on a standard form does not constitute a legally binding agreement and could lead to complications. Therefore, proper guidance is essential to uphold ethical practices in real estate.
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