Maine real estate Study guides, Study notes & Summaries

In Maine, a person without a real estate license may: - ANSWER-Call bids at a real estate auction. Under Maine law, "real estate brokerage' means: - ANSWER-A single instance of offering, attempting to conduct, or conducting real estate services on behalf of another for compensation. In Maine an agency that has a company policy that permits disclosed dual agency must provide a disclosed dual agency consent agreement to: - ANSWER-Prospective clients at the time of entering into a brokerage a...

A client must be informed as to the real estate brokerage agency's appointed agency policy and: CORRECT ANSWER Give written consent to that policy in advance of entering into a brokerage agreement. A disclosed dual agent may disclose any information to one party that the licensee gains from the other party if the information is relevant to the transaction except: CORRECT ANSWER Confidential negotiating strategy not disclosed in the sales offer as terms of the sale. The Maine Real Estate ...

Section 1 - Maine Real Estate Commission (2) The primary function of the Maine Real Estate Commission is? A. Enforce the rules and regulations by holding hearings on complaints B. Issue real estate licenses to qualified candidates C.. Promote public confidence in the real estate industry D. Oversee audits and continuing education of practicing licensees CORRECT ANSWER C. Promote public confidence in the real estate industry The industry members on the Maine Real Estate Commission are: ...

Maine Real Estate Final questions with correct answer

An adequate legal description of real estate is one: - by which a reasonable person can determine what property is described - the legal description is legally "adequate" if a reasonable person could identify the property based on the description. Ownership of real estate includes: a.) Rights to use the surface, subsurface and airspace over the land b.) Fixtures c.) Naturally growing tree growing on the land d.) All of the above - D.) All of the above Subsurface rights in real estat...

Maine Real Estate Laws questions with correct answers

Who established the Maine Real Estate Commission (MREC) and when? correct answer: The Maine Real Estate Commission (MREC) was established by an Act of the Maine Legislature in 1937. What is the policy/mission of the MREC? correct answer: The policy or mission of the MREC is to supervise licensees "in a manner to ensure that they meet standards which will promote public understanding and confidence in the business of real estate brokerage". Section 13061. Who appoints the commissioners?...

Maine Real Estate ExamThe purpose of the Maine Real Estate Commission is to: A. Sanction licensees who break the law. B. Promote public understanding and confidence in the business of real estate brokerage. C. Make laws that govern the practice of real estate in Maine. D. Refer all violations of real estate law to the state's Attorney General. - correct answer B. Promote public understanding and confidence in the business of real estate brokerage. The Maine Real Estate Commiss...

Maine Real Estate License Practice Exam questions with correct answers

Maine Real Estate Law questions with correct answers.