Maine Revised Statutes Title 32 Sec. 13273 – Seller agent
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1. Duty to seller. A seller agent:
A. Shall perform the terms of the brokerage agreement made with the seller; [PL 1993, c. 679, §1 (NEW).]
B. Shall promote the interests of the seller by exercising agency duties as set forth in section 13272 including:
(1) Seeking a sale at the price and terms stated in the brokerage agreement or at a price and terms acceptable to the seller except that the seller agent is not obligated to seek additional offers to purchase the property while the property is subject to a contract of sale unless the brokerage agreement so provides;
(2) Presenting in a timely manner all offers to and from the seller, even when the property is subject to a contract of sale;
(3) Disclosing to the seller material facts of which the seller agent has actual knowledge or if acting in a reasonable manner should have known concerning the transaction, except as directed in section 13280;
(4) Advising the seller to obtain expert advice on material matters that are beyond the expertise of the seller agent; and
(5) Accounting in a timely manner for all money and property received in which the seller has or may have an interest; [PL 2005, c. 378, §14 (AMD); PL 2005, c. 378, §29 (AFF).]
C. Shall exercise reasonable skill and care; [PL 1993, c. 679, §1 (NEW).]
D. Shall comply with all requirements of the laws governing real estate commission brokerage licenses and any rules adopted by the commission; [PL 1993, c. 679, §1 (NEW).]
E. Shall comply with any applicable federal, state or local laws, rules, regulations or ordinances related to real estate brokerage including fair housing and civil rights laws or regulations; [PL 1993, c. 679, §1 (NEW).]
F. Has an obligation to preserve confidential information provided by the seller during the course of the relationship that might have a negative impact on the seller’s real estate activity unless:
(1) The seller to whom the information pertains grants consent to disclose the information;
(2) Disclosure of the information is required by law;
(3) The information is made public or becomes public by the words or conduct of the seller to whom the information pertains or from a source other than the seller agent; or
(4) Disclosure is necessary to defend the seller agent against an accusation of wrongful conduct in a judicial proceeding before the commission or before a professional committee; and [PL 2005, c. 378, §14 (AMD); PL 2005, c. 378, §29 (AFF).]
G. Must be able to promote alternative properties not owned by the seller to prospective buyers as well as list competing properties for sale without breaching any duty to the client. [PL 1993, c. 679, §1 (NEW).]
[PL 2005, c. 378, §14 (AMD); PL 2005, c. 378, §29 (AFF).]
Terms Used In Maine Revised Statutes Title 32 Sec. 13273
- 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
- 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
- Commission: means the Real Estate Commission. See Maine Revised Statutes Title 32 Sec. 13001
- Contract: A legal written agreement that becomes binding when signed.
- 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. See Maine Revised Statutes Title 32 Sec. 13271
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- 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
- 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. See Maine Revised Statutes Title 32 Sec. 13271
2. Duty to buyer. The duty of a seller agent to a buyer is governed by the following.
A. A seller agent shall treat all prospective buyers honestly and may not knowingly give false information and shall disclose in a timely manner to a prospective buyer all material defects pertaining to the physical condition of the property of which the seller agent knew or, acting in a reasonable manner, should have known. A seller agent is not liable to a buyer for providing false information to the buyer if the false information was provided to the seller agent by the seller agent’s client and the seller agent did not know or, acting in a reasonable manner, should not have known that the information was false. A seller agent is not obligated to discover latent defects in the property. [PL 2005, c. 378, §14 (AMD); PL 2005, c. 378, §29 (AFF).]
B. Nothing in this subchapter precludes the obligation of a buyer to inspect the physical condition of the property. A cause of action may not arise on behalf of any person against a seller agent for revealing information in compliance with this subchapter. [PL 2005, c. 378, §14 (AMD); PL 2005, c. 378, §29 (AFF).]
C. A seller agent may provide assistance to the buyer by performing ministerial acts such as preparing offers and conveying those offers to the seller and providing information and assistance concerning professional services not related to real estate brokerage services. Performing ministerial acts for the buyer may not be construed as violating the seller agent’s agreement with the seller or forming a brokerage agreement with the buyer. Performing ministerial acts for the buyer does not make the seller agent a transaction broker for the buyer. [PL 2005, c. 378, §14 (AMD); PL 2005, c. 378, §29 (AFF).]
[PL 2005, c. 378, §14 (AMD); PL 2005, c. 378, §29 (AFF).]
SECTION HISTORY
PL 1993, c. 679, §1 (NEW). PL 2005, c. 378, §14 (AMD). PL 2005, c. 378, §29 (AFF).