NJ RE Broker case studies
NJ RE Broker · Put your knowledge to work in context.
The New Jersey Real Estate Broker Examination is the state licensing test that a licensed New Jersey salesperson must pass to become a real estate broker - the individual who may own or manage a brokerage, supervise licensees, and hold fiduciary responsibility for client funds. It is also the gate for applicants seeking a broker's license to operate their own firm. The NJ RE Broker case studies are 5 cases and about 4,164 words.
1The Escrow Account Nobody Owns: Three Money Problems in One Week
Marisol is broker of record of a 14-licensee office in Cherry Hill. On Friday a buyer's 10,000 earnest money check for a Haddonfield listing was handed to the listing salesperson, Dev.
873 words, about 4 min2The Open-House Buyer Who Wants the Listing Agent to "Just Write It"
Sarah, a salesperson with Harborview Realty, lists a 540,000 condominium in Jersey City. At the first open house, Priya tours the unit without an agent and asks Sarah to "write the offer for her." Priya has signed nothing.
827 words, about 4 min3The Voucher Applicant, the Deposit, and the Broken Boiler
Dale's brokerage manages a 24-unit building in Trenton for an out-of-state owner. Three items land the same day: (1) the owner wants a housing-voucher applicant refused because "those tenants are trouble"; (2) the owner wants each tenant's 1,800 security deposit moved into the brokerage's business checking account "so it can earn more"; (3) the owner wants rent raised from 1,250 to $1,550 for a tenant whose lease expires in 60 days, and refuses to fix a boiler that has failed twice this month, saying "heat is a winter issue.".
835 words, about 4 min4The Appraisal Gap, the Lapsed Contingency, and the $10,000 in the Middle
Marcus contracts to buy a 425,000 townhouse in Parsippany with 10% down and a 21-day financing contingency. The lender's appraiser values it at 400,000.
766 words, about 4 min5The BPO That Was Ordered to Hit a Number
Prestige Realty's broker of record, Alan, agrees to prepare a 150 broker price opinion for a lender on a Short Hills colonial. The asset manager emails: "our file needs 1,250,000 to make the refi work - can you get there?" Alan's newest salesperson, who has never been inside the property, pulls three comps - one 1.8 miles away and 900 square feet larger - makes no adjustments, and drafts the BPO at $1,250,000.
863 words, about 4 min