Agency
Under Maine's disclosure requirements, when two agents in the same brokerage represent buyer and seller respectively under a designated agency arrangement, what does the broker's role become?
AThe broker becomes a dual agent
BThe broker serves as a supervisor/coordinator, with each designated agent retaining single agency duties to their client✓ Correct
CThe broker represents neither party
DThe broker represents the higher-paying party
Explanation
In designated agency, the designated broker oversees and supervises both designated agents but does not personally act as an agent for either buyer or seller. Each designated agent maintains their individual client's fiduciary interests.
Related Maine Agency Questions
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