Agency
Under Maine law, when a buyer's agent receives an offer of subagency from a listing broker, accepting the offer means the agent:
ARepresents the buyer as a fiduciary
BRepresents the seller as a fiduciary✓ Correct
CHas no fiduciary duties to either party
DBecomes a dual agent automatically
Explanation
Subagency means the cooperating agent works as an agent of the listing broker and represents the seller, not the buyer. Accepting subagency creates fiduciary duties to the seller, which is why buyer brokerage agreements are now standard.
Related Maine Agency Questions
- 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:
- Under Maine agency law, a 'facilitator' (transaction broker) may:
- An agency agreement in Maine is terminated by all of the following EXCEPT:
- Under Maine agency law, a seller's agent owes which duty to the buyer?
- In Maine, the agency relationship between a broker and client is typically created by:
- The fiduciary duty of 'accounting' in a Maine agency relationship requires the agent to:
- A Maine buyer's agent accompanies their client to view a home listed by a competing broker. The buyer's agent owes fiduciary duties to:
- When a Maine broker learns that their salesperson has been secretly representing both buyer and seller without disclosure, the broker should:
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