Maine Real Estate Questions And Answers Rated A+.

Maine Real Estate Questions And Answers Rated A+. What is dual agency - correct answer Dual agency is a situation where one or more licensee(s) (or one agency) represent(s) two clients whose interests are adverse Why would an agency decide to practice under the Appointed Agency Concept - correct answer A company might decide to practice Appointed Agency where it believes that one license can represent the seller and another can represent the buyer and the agency can handle both sides of the transaction What is a transaction broker? How is a transaction broker different from an agent? - correct answer A transaction broker has no fiduciary duties to the buyer or seller. Therefor it is illegal for a transaction broker to give advice to a buyer or seller What services is a transaction broker allowed to provide to a customer? - correct answer A transaction broker can provide services that are "informative and clerical" in nature. Though a written agreement is not necessary, what are the advantages of having a transaction brokerage agreement in writing? - correct answer A written agreement will, presumably, have a clause that provides a starting date, ending date, and most importantly from the licensee's point of view, a statement about commission to be paid When are real estate licensees required to hand out the Real Estate Brokerage Relationships Form? - correct answer Where there is a substantive conversation (communication) about a real estate transaction Who is most likely to read the agency policy? Sales associates, customers and clients? - correct answer Sales Agents must understand the services allowed by the agency What information can a transaction broker provide to a customer? - correct answer A transaction broker can provide Comparable Market Data, comparative information about sales but the transaction broker may NOT provide analysis