United States — Maine Act or statute

United States — Maine legislation

Maine Revised Statutes, Title 32, § 13271: Definitions, 1993

Source excerpt

brokerage definitionsreal estate agency roles

Jurisdiction: United States — Maine
Structure: 1 provisions
Official identity: Year 1993
Dates: Enacted 1993 · Source version 1 Oct 2025

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Dates: Enacted 1993 · Source version 1 Oct 2025

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“As used in this subchapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 1993, c. 679, §1 (NEW).] 1. Affiliated licensee. "Affiliated licensee" means a licensee who is authorized to engage in”

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Section 13271

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Source record from legislature.maine.gov · Enacted 1993 · Source version 1 Oct 2025

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§ 13271DefinitionsInterpretation

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As used in this subchapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 1993, c. 679, §1 (NEW).] 1. Affiliated licensee. "Affiliated licensee" means a licensee who is authorized to engage in brokerage activity by and on behalf of a real estate brokerage agency. [PL 2005, c. 378, §13 (AMD); PL 2005, c. 378, §29 (AFF).] 2. Appointed agent. "Appointed agent" means that affiliated licensee who is appointed by the designated broker of the affiliated licensee's real estate brokerage agency to act solely for a client of that real estate brokerage agency to the exclusion of other affiliated licensees of that real estate brokerage agency. [PL 2005, c. 378, §13 (AMD); PL 2005, c. 378, §29 (AFF).] 3. Brokerage agreement. "Brokerage agreement" means a contract that establishes the relationships between the parties and the brokerage services to be performed. [PL 2005, c. 378, §13 (AMD); PL 2005, c. 378, §29 (AFF).] 4. Buyer agent. "Buyer agent" means a real estate brokerage agency that has entered into a written brokerage agreement with the buyer in a real estate transaction to represent the buyer as its client. [PL 2005, c. 378, §13 (AMD); PL 2005, c. 378, §29 (AFF).] 5. Client. "Client" means a person who has entered into a written brokerage agreement with a real estate brokerage agency that has agreed to represent that person and be bound by the duties set forth in section 13272 on behalf of that person. [PL 2005, c. 378, §13 (AMD); PL 2005, c. 378, §29 (AFF).] 6. Designated broker. "Designated broker" means a broker designated by a real estate brokerage agency to act for the real estate brokerage agency in the conduct of real estate brokerage. [PL 2005, c. 378, §13 (AMD); PL 2005, c. 378, §29 (AFF).] 7. Disclosed dual agent. "Disclosed dual agent" means a real estate brokerage agency representing 2 or more clients whose interests are adverse in the same transaction with the knowledge and informed consent of the clients. [PL 2005, c. 378, §13 (AMD); PL 2005, c. 378, §29 (AFF).] 8. Material fact. "Material fact" means a fact that relates to the transaction and is so substantial and important as to influence the client to whom it is imparted. [PL 2005, c. 378, §13 (AMD); PL 2005, c. 378, §29 (AFF).] 9. Ministerial acts. "Ministerial acts" means those acts that a real estate brokerage agency performs for a person who is not a client and that are informative or clerical in nature and do not rise to the level of active representation on behalf of the person. [PL 2005, c. 378, §13 (AMD); PL 2005, c. 378, §29 (AFF).] 10. Real estate brokerage agency. "Real estate brokerage agency" means a person or entity providing real estate brokerage services through that person's designated broker, affiliated licensees, associates or employees and licensed by the commission as a real estate brokerage agency. [PL 2005, c. 378, §13 (AMD); PL 2005, c. 378, §29 (AFF).] 11. Seller agent. "Seller agent" means a real estate brokerage agency that has entered into a written brokerage agreement with the seller in a real estate transaction to represent the seller as the real estate brokerage agency's client. [PL 2005, c. 378, §13 (AMD); PL 2005, c. 378, §29 (AFF).] 12. Subagent. "Subagent" means a real estate brokerage agency engaged by another real estate brokerage agency to perform brokerage tasks for a client. [PL 2005, c. 378, §13 (AMD); PL 2005, c. 378, §29 (AFF).] 13. Third party. [PL 2005, c. 378, §13 (RP); PL 2005, c. 378, §29 (AFF).] 13-A. Transaction broker. "Transaction broker" means a real estate brokerage agency that provides real estate brokerage services to one or more parties in a real estate transaction without a fiduciary relationship as a buyer agent, a seller agent, a subagent or a disclosed dual agent. [PL 2005, c. 378, §13 (NEW); PL 2005, c. 378, §29 (AFF).] 14. Undisclosed dual agent. "Undisclosed dual agent" means a real estate brokerage agency representing 2 or more clients whose interests are adverse in the same transaction without the knowledge and informed consent of the clients. [PL 2005, c. 378, §13 (AMD); PL 2005, c. 378, §29 (AFF).]

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