PSI New Jersey Real Estate State Practice Exam

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Prepare for the PSI New Jersey Real Estate State Exam. Study with flashcards and multiple choice questions, each with detailed hints and explanations. Get ready to succeed on your exam!

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In which situation can a broker who has listed a property for sale NOT legally proceed?

Become a dual agent
Negotiate terms with the seller
Market the property to potential buyers
Offer discounts to new clients

The correct answer is: Become a dual agent

A broker who has listed a property for sale cannot legally proceed to become a dual agent without the informed consent of all parties involved. Dual agency occurs when a broker represents both the seller and the buyer in the same transaction. This situation can create conflicts of interest, making it crucial for the broker to disclose their role and obtain consent from both parties before proceeding. In contrast, negotiating terms with the seller, marketing the property to potential buyers, and offering discounts to new clients are all activities that brokers can engage in as part of their duties and business practices, provided these actions comply with applicable laws and regulations. The responsibilities of a broker in these scenarios do not inherently lead to a conflict of interest or require consent from multiple parties, making them permissible actions for a broker with a listed property.