New Jersey Real Estate License Exam Practice Question
When homeowners sign a listing form, they are entering into a contract with the:
Correct Answer: D
Rationale: When homeowners sign a listing form, they are entering into a contract with the brokerage firm. This establishes a formal relationship where the brokerage represents the homeowners in the sale of their property, ensuring legal obligations and fiduciary duties are upheld.
Option A is incorrect because the contract is not with the individual salesperson but with the brokerage they represent. Option B is wrong as the local Board of Realtors facilitates standards and ethics but does not engage in contracts with homeowners. Option C is also incorrect, as potential buyers are not involved until the property is listed and shown.
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