A New Jersey salesperson meets a potential seller at a community event and they begin discussing the seller's desire to list her home. The conversation becomes detailed, covering the property's features, the seller's timeline, and the desired listing price. Under New Jersey law, when should the salesperson provide the Consumer Information Statement?
Correct Answer
D) During the community event conversation, once it becomes substantive in nature
Under N.J.A.C. 11:5-6.9, the Consumer Information Statement must be provided at the time of the first substantive contact. A conversation at a community event that covers the property's features, the seller's timeline, and desired listing price is clearly substantive in nature. The location of the conversation—whether at a formal office or a community event—does not change the timing requirement. The CIS should be provided during that conversation once it becomes substantive.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The legal principle that holds a broker responsible for the actions of their agents and employees performed within the scope of the agency relationship.
An agency relationship created when a principal's actions or words lead a third party to reasonably believe that an agent has authority, and the principal fails to correct this belief.
An agency relationship created when a principal approves or accepts an agent's previously unauthorized actions, effectively granting authority after the fact.
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