Maine real estate state - Study guides, Class notes & Summaries

In Maine, an agency relationship begins when the - ANSWER-Buyer or seller and agency sign an agreement establishing the agency relationship. Where a licensee has an agency relationship with a client, his/her most important duties are owed to: - ANSWER-The client. Which of the following statements is true? For an agent to become an appointed agent in Maine: - ANSWER--The agency must have adopted the appointed agent concept. -The client must agree in writing to allow the agent to serve as ...

Maine Real Estate Study Questions and Answers (Graded A)Maine Real Estate Study Questions and Answers (Graded A)Maine Real Estate Study Questions and Answers (Graded A)Maine Real Estate Study Questions and Answers (Graded A) In Maine, an agency relationship begins when the - ANSWER-Buyer or seller and agency sign an agreement establishing the agency relationship. Where a licensee has an agency relationship with a client, his/her most important duties are owed to: - ANSWER-The client. Whic...

Abstract of Title - ANSWERA _____ exam summary prepared from the records in the registry of deeds Accounting - ANSWEROne of the seven fiduciary duties of an agent to a client: agent must report to the client how money held for the client is to be handled Accretion - ANSWERThe process by which a brook, river, stream or oceanic action adds land to an existing parcel Adjustments - ANSWERFor CMA: sold properties are used to estimate a sales price - the __________ is for differences in the p...

Abstract of Title - Answer-A _____ exam summary prepared from the records in the registry of deeds Accounting - Answer-One of the seven fiduciary duties of an agent to a client: agent must report to the client how money held for the client is to be handled Accretion - Answer-The process by which a brook, river, stream or oceanic action adds land to an existing parcel Adjustments - Answer-For CMA: sold properties are used to estimate a sales price - the __________ is for differences in t...

Maine Real Estate Law Exam Prep Study Guide with Complete Solutions In Maine, a person without a real estate license may: - Answer️️ -Call bids at a real estate auction. Under Maine law, "real estate brokerage' means: - Answer️️ -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...

MAINE STATE PRACTICE EXAM TEST 2024. The most common manner in which to transfer risk in real estate property management is through the use of: A. indemnification agreements. B. insurance policies. C. hold harmless agreements. D. release of liability forms. - correct answer B. In risk management, the most common and effective manner in to transfer risk is by the use of insurance policies. The property owner pays a premium, and the insurance company takes on the liability for the occurren...

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?...

REAL ESTATE FINAL EXAM 2024. How many industry members serve on the Maine Real Estate Commission? - correct answer 4 What type of real estate development includes a variety of land uses such as single family homes, rentals, retail, and recreation space? - correct answer PUD (Planned Unit Development) Two forms of Joint ownership are: - correct answer Joint Tenancy and Tenants in Common If property is owner in severalty, it is owned by: - correct answer One person or corporation The ...