Agency
Under Maine's designated agency rules, the designated buyer's agent within a real estate company owes the buyer:
ALimited fiduciary duties only
BFull fiduciary duties✓ Correct
CTransaction facilitator duties only
DDuties to both buyer and seller equally
Explanation
A designated buyer's agent owes full fiduciary duties (loyalty, confidentiality, disclosure, obedience, reasonable care) exclusively to the buyer, even when another agent in the firm represents the seller.
Related Maine Agency Questions
- When a Maine real estate agent represents both the buyer and seller in the same transaction as a dual agent, the agent must:
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- Under Maine's agency disclosure requirements, when a listing agent first meets a potential buyer, the agent represents:
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