Agency
Under Maine law, a real estate agent 'facilitating' a transaction (as a transaction broker) is different from a 'dual agent' primarily because:
AA facilitator charges higher fees
BA facilitator owes no fiduciary duties and represents neither party exclusively✓ Correct
CA dual agent can only represent sellers
DA facilitator requires court approval
Explanation
A facilitator (transaction broker) acts as a neutral party assisting both sides, owing duties of honesty and fair dealing but not the fiduciary duties of exclusive loyalty. A dual agent attempts to represent both parties as a fiduciary, which creates inherent conflicts.
Related Maine Agency Questions
- A Maine buyer's agent who fails to investigate the property's condition or research comparable sales before helping their buyer make an offer may be in violation of their duty of:
- In Maine, which of the following is an example of 'express agency'?
- 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:
- Under Maine agency law, a 'facilitator' (transaction broker) may:
- In Maine, a real estate agent who has not been formally hired by a buyer but shows them property and assists them may have inadvertently created:
- Maine law requires a real estate agent to present ALL written offers to the seller:
- Under Maine agency law, a seller's agent owes which duty to the buyer?
- When a Maine real estate agent represents only one party but provides services to both buyer and seller, this is called:
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