Agency
In Maine, what is a 'designated agent'?
AAn agent designated by the buyer to negotiate on their behalf
BA licensee within a brokerage firm appointed to represent one party exclusively when another licensee in the same firm represents the other party✓ Correct
CThe principal broker of a real estate office
DAn agent appointed by the court to manage a property
Explanation
In Maine, designated agency allows a brokerage to appoint specific licensees to represent the buyer and seller respectively in an in-house transaction, avoiding dual agency conflicts.
Related Maine Agency Questions
- Maine requires that the Consumer Information Statement be signed by the consumer to:
- In a Maine transaction where a buyer is unrepresented, the listing agent should:
- In Maine, which of the following is a common reason for terminating an agency relationship?
- In Maine, a transaction broker:
- An agency agreement in Maine is terminated by all of the following EXCEPT:
- In Maine, a 'buyer's agent' owes fiduciary duties exclusively to:
- Under Maine agency law, a 'facilitator' (transaction broker) may:
- Maine's disclosure requirements state that the Consumer Information Statement must be provided 'at the first substantive contact.' What constitutes 'substantive contact'?
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