Maine Real Estate Commission Study Guide .

Maine Real Estate Commission Study Guide . Maine Real Estate Commission (MREC) - correct answer The Maine based organization meant to protect the public through the regulation of the real estate industry in Maine. Multiple Listing Service (MLS) - correct answer A system that pools the listings of all member companies. National Association of REALTORS® (NAR) - correct answer NAR advocates for policies that foster vibrant real estate markets, support the industry, and protect consumers. The REALTOR® Party works to advance public policies that promote strong communities, property interests, and a vibrant business environment. Sales Agents - correct answer One who acts on behalf of another in a business transaction. In Maine, real estate agents are referred to simply as sales agents. Brokers - correct answer One who provides brokerage services (buying and selling for another) for a commission. Associate Brokers - correct answer A licensed real estate broker who may perform the acts of a broker but who chooses to work under the name and supervision of a licensed broker; the licensed broker may be an individual, a corporation, a partnership, or a trade-name organization. An associate broker may not work independently. Commission Director - correct answer The MREC Director is appointed to act on behalf of the Commission in investigation, subpoena, and licensure powers.