In Maine, designated agency allows:
Correct Answer
B) Separate agents within the same firm to each represent one party independently
Maine law permits designated agency, in which a supervising broker designates separate agents within the same brokerage firm to independently represent the buyer and the seller in the same transaction. This avoids dual agency by ensuring each party has their own advocate within the firm.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
An arrangement where a brokerage assigns separate agents within the firm to represent the buyer and seller in the same transaction, allowing each client to have dedicated representation.
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.
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- → A Vermont licensee is asked about a designated agency firm appoints separate agents for buyer and seller. What is the best answer?
- → In Vermont, a licensee has substantial contact with an unrepresented person before a showing. Which statement is correct?
- → In Vermont, a firm has not elected designated agency. Which statement is correct?
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