A Maine licensee is handling a seller agent knows, or acting reasonably should know, of a material physical-condition defect in the listed property. What is the best answer?
Correct Answer
D) The seller agent must treat prospective buyers honestly and disclose the material physical-condition defect in a timely manner
Title 32 section 13273 requires seller agents to treat buyers honestly and disclose known or reasonably knowable material physical-condition defects, while not imposing a duty to discover latent defects. Source basis: Maine Revised Statutes Title 32, section 13273, checked 2026-04-30: a seller agent must perform the brokerage agreement, promote the seller interests, present offers timely, disclose material facts to the seller, preserve seller confidential information, and treat buyers honestly including timely disclosure of known or reasonably knowable material physical-condition defects.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
A situation where a single agent or brokerage represents both the buyer and the seller in the same real estate transaction.
An agency relationship created by a clear, explicit agreement between the principal and agent, either orally or in writing.
The highest legal obligation of trust and confidence owed by an agent to their principal, requiring the agent to act solely in the principal's best interest.
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A Maine licensee is handling a Maine licensee has substantive communication with a prospective buyer or seller about a 1-4 unit residential real estate transaction. What is the best answer?
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