Agency
When a Maine seller's agent has a buyer-client for their own listing, one way to handle this conflict is to:
AProceed as a dual agent without disclosure
BHave a different agent in the firm be designated as the buyer's agent✓ Correct
CRefer the buyer to a competing brokerage immediately
DLet the seller decide which party gets representation
Explanation
Designated agency is a solution where different agents within the firm are designated to represent each party, avoiding the undivided loyalty conflicts of traditional dual agency while keeping the transaction in-house.
Related Maine Agency Questions
- Maine's 'Consumer Information Statement' must be provided to buyers and sellers at which point in the transaction?
- In Maine, a 'subagent' of the listing broker owes fiduciary duties to:
- Maine's 'Understanding Agency' (Consumer Information Statement) explains to consumers that a buyer's agent owes the buyer:
- A Maine buyer's agent who fails to investigate the property's condition or research comparable sales before helping their buyer make an offer may be in violation of their duty of:
- Maine real estate law requires 'prompt' presentation of offers. 'Prompt' in this context generally means:
- Under Maine agency law, a seller's agent owes which duty to the buyer?
- In Maine, which of the following is a common reason for terminating an agency relationship?
- When must a Maine licensee disclose their agency relationship to a potential buyer at an open house?
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