New Jersey Real Estate License Exam Practice Question
According to New Jersey Real Estate Licensing Law, which of the following is REQUIRED when servicing an exclusive listing?
Correct Answer: A
Rationale: In New Jersey, servicing an exclusive listing necessitates a signed exclusive listing agreement, which establishes the legal relationship between the broker and the seller. This agreement is essential for outlining the terms of the listing and ensuring both parties are protected.
Option B, a signed consumer information statement, while important for disclosure, is not specifically required to service an exclusive listing. Option C, the Attorney Review Clause, pertains to the contract review process and is not a prerequisite for listing services. Lastly, option D, submitting to a multiple listing service, is not mandatory to service an exclusive listing, as it is an optional marketing strategy.
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