New Jersey Real Estate Practice Exam Free

Total Questions: 120 (Free preview: first 5 only)

Question 1 of 120

A salesperson has been selling residential properties for five years, and would like to get into listing and selling industrial properties. What would be the salesperson's best course of action?

A. Prospect for some industrial properties to list.
B. Seek to work with a practicing industrial broker either in the salesperson's present company or at another local brokerage. Correct
C. Stay selling residential properties because industrial property brokerage requires a different license and is complex and difficult.
D. Move to a property management company and manage some industrial properties for a while before making this decision.

Rationale: Seeking to work with a practicing industrial broker provides the salesperson with invaluable mentorship and industry-specific knowledge, which is crucial for a successful transition into industrial properties. This option allows for hands-on learning and networking within the industrial sector.

Option A, prospecting for industrial properties independently, lacks the necessary guidance and expertise, which could lead to mistakes in a complex market.

Option C incorrectly suggests abandoning the pursuit of industrial brokerage due to perceived difficulties, limiting professional growth.

Option D, while gaining experience in property management, may delay entry into industrial sales and does not directly address the goal of selling properties.

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