New Jersey's Agency and Representation Model

New Jersey recognizes several business relationships a licensee may have with a consumer, including seller's agent, buyer's agent, disclosed dual agent, and transaction broker. Licensees must provide consumers with the Consumer Information Statement (CIS) at first contact, explaining these options so the consumer understands whom the licensee represents. A licensee owes fiduciary duties to a represented client, while a transaction broker works with parties without representing either as a client.