Agency
A Maine buyer's agent who has a personal financial interest in the property they are helping the buyer purchase must:
AImmediately withdraw from the transaction
BDisclose the interest to the buyer before proceeding✓ Correct
COnly disclose to the seller
DDisclose to MREC only
Explanation
A licensee with a personal interest in a transaction must disclose that interest to their client before proceeding. This allows the client to make an informed decision about the representation.
Related Maine Agency Questions
- A buyer's agent in Maine owes the buyer the duty of:
- Under Maine law, when must a licensee provide the 'Understanding Agency' disclosure form to a buyer?
- Maine law requires a real estate agent to present ALL written offers to the seller:
- In Maine, which document must be provided to a consumer at the first substantive contact in a real estate transaction?
- In Maine, which document is used to establish a buyer brokerage relationship?
- In Maine, a 'subagent' of the listing broker owes fiduciary duties to:
- In Maine, 'vicarious liability' means that a broker may be liable for the actions of their salespersons:
- A Maine seller's agent who learns their client has received a low appraisal should:
Practice More Maine Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Maine Quiz →