PSI New Jersey Real Estate State Practice Exam

When may a licensee contact a property owner whose listing has expired with another firm?

1. If the property has been off the market for 30 days

2. If the owner expresses interest in selling

3. If the property was listed with another firm in the MLS in the last 180 days

4. If the property has been deemed unsellable

The correct answer is: If the property has been off the market for 30 days

Contacting a property owner whose listing has expired is subject to specific guidelines to ensure fairness and respect for the existing professional relationships in real estate. The correct answer, which indicates that a licensee may reach out once the property has been off the market for a certain period, aligns with established practices in the industry. Once a listing has expired—typically, this means the agreement between the seller and the listing agent has concluded—the property owner is no longer under a contractual obligation with that agent. In this case, a standard waiting period, often set at around 30 days, allows for a cooling-off period before new agents can solicit the property owner. This period helps maintain professional etiquette and limits the risk of interfering with the previous listing agent’s client relationship. While the option implying that the owner needs to express interest in selling recognizes the agency's duty to represent a client's best interests, it does not provide a clear timeline for when a licensee may contact them after a listing has expired. The other options, such as the specifics about the listing being on the MLS within the last 180 days or deeming the property unsellable, are not relevant to the timeframe that governs when new agents can contact property owners. These aspects may relate to discussing the property's