Agency
A Maine buyer's agent learns that their buyer-client is willing to pay $20,000 more than their offer. The agent must:
ADisclose this to the seller to help close the deal
BKeep this confidential since it's buyer client information✓ Correct
CReport this to MREC
DDisclose to both parties equally
Explanation
A buyer's agent owes a duty of confidentiality to the buyer-client. Information about the buyer's willingness to pay more must be kept confidential and not shared with the seller.
Related Maine Agency Questions
- In Maine, an agent's authority to act on behalf of a principal may be terminated by:
- A Maine listing agent who discovers their seller has not disclosed a known roof leak should:
- Under Maine agency law, a 'facilitator' (transaction broker) may:
- In Maine, a 'buyer's agent' owes fiduciary duties exclusively to:
- Which fiduciary duty requires a Maine listing agent to inform the seller of all offers received, even after the seller has accepted another offer?
- A Maine real estate agent who represents both the buyer and seller in the same transaction with both parties' written consent is acting as:
- A Maine buyer's agent who learns that the seller is going through a divorce and must sell quickly has a duty to:
- A Maine buyer's agent who knows their buyer is willing to pay up to $300,000 must:
Practice More Maine Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Maine Quiz →