Maine Home Connection
Home Home About Us About Us Contact Us Contact Us
MHC MHC MHC MHC MHC MHC
Buyers Sellers Maine Blog Properties
Maine Communities
Search the MLS
Lifestyle Home Search Map
Email Alerts
Waterfront Real Estate
Relocation Services
Featured Listings
Home Finance & Mortgage
Retirement in Maine
Real Estate Investing
Media Archive
Featured Properties
Enter a keyword to search the site

Features & Services
  
Your Home's Value
My Home's Value:
Receive a Report of Your Home's Value 
New ConstructionNew Construction: 
Guidelines, Builders, Green Homes
Your Home's ValueHome Sales Stats:
Current Home Sales Reports & Statistics 
Sold PropertiesSold Data:
View All Recent Home Sales History
Left-MarketingHome Marketing:
Maximum Exposure© Home Marketing 
  
...Manage Your Account
  
Login
Existing Users:
Login with your email address only
Existing UsersNew Users: 
Simple signup to view all Maine properties.
Contact Us
Contact Us:  
Call or email us with your questions.
  
Newsletter Signup
 


Home Buying Agency Relationships

Understanding Agency in Maine 

If you are considering buying or selling residential real estate in Maine it is important for you to understand that state law provides for different levels of brokerage services. You should decide whether you want to be represented in a transaction (as a client) or not (as a customer). The following information should assist you in making that determination.

Maine law requires that all real estate brokerage companies and their affiliated agents and brokers to perfrom certain basic duties when dealing with a buyer or seller. There customer-level services include: 1) To disclose all material defects pertaining to the physical condition of the property; 2) To treat both the buyer and seller honestly and 3) To comply with all state and federal laws pertaining to real estate brokerage activity.

If you want to enter into a client-agent relationship, several different options are available:

Seller's Agent

If you engage the services of a Listing agent to sell your property, you become the broker's client. That agent then represents you, the seller, and owes you undivided loyalty, confidentiality, and accountability. In negotiating for the best price and terms, your interests first are the agent's first priority.

Buyer's Agent

You may engage the services of a agent to represent you exclusively as a buyer of real property. In this case, the agent represents you and is accountable to you only. He or she must obey your instructions, and keep confidential anything you tell divuldge that may affect your purchase of real property. In negotiating for the best price and terms, the agent must always put your interests first, just as in the case of the selling agent.

Disclosed Dual Agent

An agent can work for both the buyer and the seller on the same transaction, providing that there is consent of both parties...in writing! In this case, the agent is considered a "Disclosed Dual Agent." This agent then owes both the seller and the buyer a duty to deal with them fairly and honestly, and to hold each of their respective interests in confidence. In this type of agency relationship, the angent does not represent either the seller or the buyer exclusively, and neither party can expect the agent to put one party's interests ahead of the other's, or to advise either party on how to gain an advantage over the other. Undisclosed Dual Agency by a broker is illegal.

Documents to Download 

Below are examples of common documents used in the purchase of a home. Included are the standard Form 3 (which outlines agency relationships) and a Residential Transaction Booklet.

Our Total Home Buying Program reviews more of our client services and the Residental Property Transaction Booklet is a summary of important terms, definitions and procedures common in Maine Real Estate.

Download Report Each document can be easily downloaded as a PDF
 Real Estate Relationships - Form3
 Residential Property Transaction Booklet
 Offer - Counteroffers Guidelines
 Arsenic and Lead Paint Information
 Fair Housing Guidelines
 Title Insurance



 
Buying Your Home Heart and Mind Buyer Agency
Exclusive Services Agency Relationships Title Insurance
Home Buying Process Advice and Strategy
Affect of the Economy Determining A Price First Time Buyers Viewing Homes Second Homes Home Search Strategy Waterfront Real Estate
Common Forms
Selling Your Home CMA Request Marketing Programs
Search Engine Marketing Promotion Showing Results Internet Marketing Advertising Keller Williams Advantage Opt-In Marketing Staging Transaction Reporting Web Statistics
Pricing Factors Advice and Strategy
Counteroffers Establishing a Price Listing Agreements Feng Shui Principles Considering Repairs Value of Improvement Choosing A Realtor Common Mistakes
Home Selling Process
Maine Maine History Maine Geography Maine Economy Maine Demographics Maine Education Maine Climate Maine Beaches
Maine Real Estate Blog
Search for Properties
Maine Communities Portland South Portland Scarborough Falmouth Cape Elizabeth Cumberland Yarmouth Old Orchard Beach Biddeford
Search For Homes
Lifestyle Map Search
Daily Property Updates
Waterfront Real Estate Coastal Maine
Maine Coastal Guide
Maine Lakes
Maine Lake Guide
Maine Rivers Casco Bay Islands
Peaks Island Chebeague Island Great Diamond Island Long Island Cliff Island Cushing Island
Waterfront - FAQ's
Relocation Services Relocation Package Area Digital E-Guide Maine Counties Quality of Life Education and Schools Art and Culture Property Tax Rates Common Relocation FAQs Moving Long Distance
Mortgage Center Mortgage Types Credit Scoring Fee & Closing Costs Mortgage FAQs Tax Credit
Retirement in Maine Retirement Planning Retirement Communities Changing Demographics
Real Estate Investing Vacation Homes 1031 Tax Exchanges Condos and Townhomes Remodeling: Cost vs Value
Media Archive