Agency
Under Maine's agency law, a buyer's agent who knows their buyer will make a below-market offer because they believe the seller is desperate must:
ARefuse to submit the low offer
BSubmit the offer as directed by the buyer and keep the seller's desperate situation confidential✓ Correct
CAdvise the buyer that the low offer may fail
DFirst discuss with the listing agent
Explanation
A buyer's agent must follow the buyer's lawful instructions and submit the offer as directed. They may advise the buyer about the likelihood of acceptance, but the confidentiality of information obtained about the seller's motivation is maintained.
Related Maine Agency Questions
- Which fiduciary duty requires a Maine listing agent to inform the seller of all offers received, even after the seller has accepted another offer?
- In Maine, which of the following activities by a real estate agent would NOT constitute an independent contractor relationship (and might imply employment)?
- Under Maine license law, can a listing broker be liable for misrepresentations made by a salesperson working under them?
- A Maine listing agent who tells a prospective buyer that the seller 'needs to be out by a certain date' has:
- Under Maine agency law, the duty of 'obedience' means the agent must:
- In Maine, the agency relationship between a broker and client is typically created by:
- 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:
- In Maine, which of the following is an example of 'express agency'?
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