Terms Used In Maine Revised Statutes Title 32 Sec. 13272

• agency: means any person or entity engaged in real estate brokerage services through its designated broker, associates or employees and licensed by the commission as a real estate brokerage agency. See Maine Revised Statutes Title 32 Sec. 13171
• Brokerage agreement: means a contract that establishes the relationships between the parties and the brokerage services to be performed. See Maine Revised Statutes Title 32 Sec. 13271
• 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. See Maine Revised Statutes Title 32 Sec. 13271
• 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. See Maine Revised Statutes Title 32 Sec. 13271
• 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. See Maine Revised Statutes Title 32 Sec. 13271
• Real estate: means all estates and lesser interests in land and an existing business if real estate is a part of the business. See Maine Revised Statutes Title 32 Sec. 13001
• Real estate brokerage: means a single instance of offering, attempting to conduct or conducting services on behalf of another for compensation, or with the expectation of receiving compensation, calculated to result in the transfer of an interest in real estate. See Maine Revised Statutes Title 32 Sec. 13001
• 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. See Maine Revised Statutes Title 32 Sec. 13271
• Subagent: means a real estate brokerage agency engaged by another real estate brokerage agency to perform brokerage tasks for a client. See Maine Revised Statutes Title 32 Sec. 13271