PSI New Jersey Real Estate State Practice Exam

When must a listing broker provide a fully executed written listing agreement to the owner?

1. At the time the agreement is signed

2. Within three days of execution

3. Immediately upon execution by all parties

4. At the end of the contract term

The correct answer is: Immediately upon execution by all parties

A listing broker must provide a fully executed written listing agreement to the owner immediately upon execution by all parties involved. This practice ensures that all parties have a clear understanding of their rights and obligations as soon as the agreement is finalized. It also adds an important layer of transparency and accountability in the real estate transaction process. Delivering the agreement immediately upon execution helps to reinforce the contractual relationship and allows the owner to review the terms of the agreement fully. This procedure is especially important because it establishes a formal record of the agreed-upon terms, which could be vital if disputes arise later. The other options suggest various timeframes for when the agreement should be provided, such as at the time of signing or within three days. While these might seem reasonable, they do not emphasize the key principle of providing the agreement immediately upon execution, which is crucial for ensuring all parties are on the same page from the outset.