Agency
In Maine, a real estate agent who provides a 'Comparative Market Analysis' (CMA) to a seller before listing is:
AProviding a legal appraisal
BProviding a market-based estimate of value to help the seller determine a listing price✓ Correct
CGuaranteeing the sale price
DRequired to be a certified appraiser
Explanation
A CMA is a market-based estimate prepared by a real estate agent to help clients understand property values based on recent comparable sales. It is not a formal appraisal, does not require appraiser certification, and is not a guaranteed sale price.
Related Maine Agency Questions
- Under Maine's agency disclosure requirements, a listing agent who works with a buyer must clarify their agency relationship because:
- Under Maine license law, can a listing broker be liable for misrepresentations made by a salesperson working under them?
- Maine requires that buyer brokerage agreements include:
- Under Maine agency law, a 'facilitator' (transaction broker) may:
- In Maine, the agency relationship between a broker and client is typically created by:
- 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, a 'buyer's agent' owes fiduciary duties exclusively to:
- A Maine buyer's agent who knows their buyer is willing to pay up to $300,000 must:
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