Maine Real Estate License Practice Exam

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

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Exclusive Right to Sell brokerage contracts in Maine must include which requirement?

Have a carry-over clause
Address required inclusion into MLS
Be for at least sixty days
Have a specific termination date

The correct answer is: Have a specific termination date

Exclusive Right to Sell brokerage contracts in Maine must include a specific termination date because this requirement clearly defines the duration of the agreement between the seller and the real estate broker. Having an explicit termination date ensures that both parties understand when their obligations will end, promoting clarity and preventing any misunderstandings regarding the duration of the contract. This time frame is crucial for effective planning and strategy in the sale of the property. While carry-over clauses, MLS inclusion, and minimum duration are important aspects of real estate agreements, they are not mandated by law to be included in every exclusive right to sell contract in Maine. The inclusion of a specific termination date is required to protect both the broker’s and the seller’s interests, ensuring that the relationship doesn’t extend indefinitely without mutual agreement.