New Jersey Real Estate Practice 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 firm is responsible for representing the homeowners in the sale of their property and coordinating the marketing efforts.
Option A is incorrect because the contract is not with the individual salesperson but rather the brokerage they represent. Option B is misleading, as the local Board of Realtors is an organization that supports real estate professionals but does not engage in contracts with homeowners. Option C is also wrong; potential buyers are not part of the listing agreement, as it is the brokerage that facilitates the transaction.
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