Agency
In Maine, the agency relationship between a broker and a client is formally created by:
AVerbal agreement only
BA written agency agreement signed by both parties✓ Correct
CThe filing of disclosures with MREC
DPresenting an offer on behalf of the client
Explanation
Maine requires written agency agreements. The agency relationship is formally created through a signed listing agreement (for sellers) or buyer agency agreement (for buyers).
Related Maine Agency Questions
- Under Maine law, a listing agent who fails to disclose that the property is located in a flood zone (a material fact) may be liable for:
- Maine requires that buyer brokerage agreements include:
- 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 'facilitator' (transaction broker) owes duties to both parties that include all EXCEPT:
- In Maine, which of the following is an example of 'express agency'?
- In Maine, which of the following is a common reason for terminating an agency relationship?
- A Maine buyer's agent is negotiating a purchase price on behalf of their buyer. The seller's agent reveals that the seller needs to close by a certain date. The buyer's agent should:
- A Maine buyer's agent has a client interested in a property where the agent has a personal financial stake. The agent must:
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