Maine Real Estate License Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Prepare for the Maine Real Estate License Exam with comprehensive quizzes featuring multiple choice questions, flashcards, hints, and detailed explanations. Be exam-ready!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

An appointed agent must obtain whose consent?

The seller's consent only
The buyer's consent only
Both the buyer's and seller's consent
The company's consent only

The correct answer is: Both the buyer's and seller's consent

An appointed agent must obtain the consent of both the buyer and the seller because this practice involves a dual agency situation, where one agent represents both parties in the transaction. In Maine, as in many other jurisdictions, dual agency requires transparency and the informed consent of all parties involved to ensure that each party understands the implications of having the same agent represent their respective interests. This consent is essential to maintain ethical standards and protect the interests of both the buyer and the seller, as the appointed agent must navigate potential conflicts of interest that could arise from representing both clients simultaneously. The requirement for mutual consent also fosters trust and collaboration within the real estate transaction process, ensuring that both parties are fully aware of and agree to the arrangement.