New Jersey Real Estate Practice Exam Free Practice Question
In order to collect a commission, which of the following is a requirement for a broker with an open listing?
Correct Answer: C
Rationale: To collect a commission on an open listing, the broker or one of their licensees must be the procuring cause of the sale. This means they must have directly facilitated the transaction, demonstrating their role in bringing the buyer and seller together.
Option A is incorrect; while listing in the MLS can enhance visibility, it's not a requirement for earning a commission on an open listing. Option B is also wrong; a protection clause is not necessary for open listings, which are typically non-exclusive. Lastly, Option D is misleading; while communication is important, notifying other brokers within two days is not a standard requirement for commission eligibility in open listings.
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