Maine Real Estate License Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Study for the Maine Real Estate License Exam. Get ready with flashcards and multiple choice questions, each offering hints and explanations. Achieve your real estate career goals.

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

Which type of real estate representation is allowed by Maine law?

Only buyer agency
Disclosed dual agency with verbal consent
Unlicensed personal assistants acting as agents
Various representations including appointed and disclosed dual agency

The correct answer is: Various representations including appointed and disclosed dual agency

Maine law allows for various types of real estate representation, including appointed agency and disclosed dual agency. This flexibility is designed to accommodate the needs of both buyers and sellers in the real estate market. Appointed agency refers to a situation where a real estate firm represents both the buyer and the seller but designates different licensees within the firm to represent each party. This ensures that each client receives dedicated attention and advocacy while still allowing the firm to facilitate the transaction. Disclosed dual agency occurs when a single agent represents both the buyer and the seller in a transaction. This type of representation is permissible as long as both parties are informed and provide consent, thus adhering to legal disclosure requirements. Overall, the answer reflects the comprehensive framework of real estate agency relationships established by Maine law, which seeks to balance the interests of all parties involved in a transaction while ensuring transparency and clear communication.