Agency
A Maine buyer's agent who represents a buyer in multiple transactions with the same seller may have a conflict of interest and should:
AContinue without disclosure since buyers and sellers often transact
BDisclose the ongoing relationship to the current buyer-client✓ Correct
CTerminate one representation immediately
DGet MREC approval for each transaction
Explanation
An ongoing business relationship with another party in a transaction is a potential conflict of interest that must be disclosed to the client. The client can then decide whether to continue the representation.
Related Maine Agency Questions
- A Maine licensee who represents a seller must disclose to all buyers:
- When a Maine real estate agent represents both the buyer and seller in the same transaction as a dual agent, the agent must:
- A Maine real estate agent who, without authorization, promises a seller that the property will sell within 30 days has exceeded their authority. This is an example of:
- Under Maine law, when must a licensee provide the 'Understanding Agency' disclosure form to a buyer?
- In Maine, a 'non-exclusive' buyer brokerage agreement means the buyer:
- The fiduciary duty of 'accounting' in a Maine agency relationship requires the agent to:
- A Maine salesperson working under a broker who has a designated agency policy may be designated to represent only the buyer in a transaction where another agent in the same office represents the seller. This arrangement:
- In Maine, the agency relationship between a broker and client is typically created by:
Practice More Maine Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Maine Quiz →