Agency
When a Maine real estate agent represents only one party but provides services to both buyer and seller, this is called:
ADual agency
BLimited service representation
CFacilitator or transaction brokerage✓ Correct
DDesignated agency
Explanation
A facilitator (transaction broker) in Maine represents neither party as a fiduciary but assists both parties in completing the transaction, while maintaining neutrality.
Related Maine Agency Questions
- Under Maine's agency disclosure law, which form must be provided to sellers before entering into a listing agreement?
- Under Maine law, 'reasonable care and diligence' as an agent duty means the agent must:
- A Maine real estate agent who helps a client prepare an offer 'too low to be taken seriously' because the agent does not want to lose their relationship with the listing agent has violated their duty of:
- Under Maine law, when a buyer's agent receives an offer of subagency from a listing broker, accepting the offer means the agent:
- Maine requires that the Consumer Information Statement be signed by the consumer to:
- In Maine, 'vicarious liability' means that a broker may be liable for the actions of their salespersons:
- In Maine, which of the following activities by a real estate agent would NOT constitute an independent contractor relationship (and might imply employment)?
- In Maine, a 'buyer's agent' owes fiduciary duties exclusively to:
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