What must a licensee do if they are a member of a real estate board that suggests uniform commission rates?

Prepare for the New Jersey Salesperson State Exam with our comprehensive quiz content, including flashcards and multiple-choice questions. Each question is designed to enhance your learning with hints and detailed explanations. Boost your readiness for the exam!

If a licensee is a member of a real estate board that suggests uniform commission rates, the appropriate action is to withdraw from the board. This response aligns with antitrust laws and the principle of promoting fair competition in the real estate market. Uniform commission rates can lead to price-fixing, which is illegal and can result in significant penalties for both individuals and organizations involved.

Remaining a member of such a board could imply endorsement or participation in unlawful practices, which could jeopardize the licensee's professional standing and legal compliance. Therefore, taking a proactive step by withdrawing from the board protects both the licensee and the integrity of the real estate profession.

Engaging in discussions about the uniform commission rates, complying with the suggestions, or reporting the board to authorities would not effectively resolve the potential legal conflicts associated with price-fixing, making withdrawal the most prudent decision in this scenario.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy