Maine Real Estate License Practice Exam

When must the Real Estate Brokerage Relationship form be provided by licensees?

1. To all buyers and sellers the licensee has contact with

2. Only when Disclosed Dual Agency is practiced

3. Prior to, or at the closing

4. To buyers and sellers of a four unit building

The correct answer is: To buyers and sellers of a four unit building

The Real Estate Brokerage Relationship form must be provided to buyers and sellers in a variety of circumstances, particularly when they are involved in real estate transactions. The requirement to present this form ensures that clients clearly understand the nature of the relationship they have with the licensee, including the roles and responsibilities of each party. The correct focus here should be on when the form needs to be disclosed rather than just the specifics of the property type or number of units involved. The reasoning behind this is rooted in maintaining transparency and establishing trust in the brokerage relationship. The option mentioning that the form needs to be provided specifically to buyers and sellers of a four-unit building narrows the scope of applicability. In reality, the form is mandated for use with all buyers and sellers that a licensee engages with, irrespective of the property type or the number of units. This broader requirement underscores the importance of communication and clarity in all real estate transactions. Therefore, while the choice implies a more limited application, the law actually dictates a wider requirement to ensure all clients are informed about their brokerage relationship. This includes various scenarios beyond just those involving multi-family units. This is why it’s important to ensure the form is provided to all relevant parties, not just a specific subset, which aligns with