Maine's Real Estate Brokerage Act recognizes several types of agency relationships that a licensee may have with a client. Which of the following is NOT a recognized agency relationship type under Maine's brokerage statutes?
Correct Answer
D) Transactional brokerage
'Transactional brokerage' is not a recognized or defined agency relationship type under Maine's Real Estate Brokerage Act (32 M.R.S. §§ 13001–13281). Maine's statutory framework recognizes seller agency, buyer agency, dual agency, and designated agency as the primary relationship types. Some other states use transactional brokerage as a non-agency facilitation model, but Maine has not adopted this framework.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship where the agent agrees to act on behalf of the principal without receiving compensation.
An agency relationship created by the conduct or actions of the parties rather than by a written or oral agreement.
The legal obligation to reveal information that could affect a party's decision to enter into or the terms of a real estate transaction.
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