Agency
A Maine seller's agent who learns their client has received a low appraisal should:
ADisclose this to the buyer to renegotiate the price
BKeep this confidential and advise the seller on options✓ Correct
CReport it to MREC immediately
DTell both parties simultaneously
Explanation
A low appraisal is confidential information belonging to the seller-client. The seller's agent must keep it confidential and advise the seller on their options (challenge the appraisal, renegotiate, or continue as-is).
Related Maine Agency Questions
- A Maine buyer's agent who notices during a showing that the seller's agent has misrepresented the property's features should:
- A Maine buyer's agent learns from the listing agent that the property is the subject of pending litigation (a boundary dispute). The buyer's agent must:
- In Maine, a buyer's agent who discloses the buyer's financial capacity to the listing agent without authorization has breached which duty?
- In Maine, a listing agent has the duty to market the property diligently. If the listing agent fails to actively market a property for months, the seller may be entitled to:
- A Maine real estate agent who is a seller's agent and presents a lowball offer must:
- A Maine seller's agent who knows the roof has active leaks but says nothing to prospective buyers is guilty of:
- A Maine real estate brokerage may represent both the buyer and seller as a dual agent only if:
- When a Maine broker learns that their salesperson has been secretly representing both buyer and seller without disclosure, the broker should:
Practice More Maine Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Maine Quiz →