Maine Real Estate License Practice Exam

A written brokerage agency agreement must state which policy regarding cooperating with other companies?

1. The type of properties involved

2. The company's policy about cooperating with other companies

3. The dollar amount of compensation

4. The legal name of the licensee

The correct answer is: The company's policy about cooperating with other companies

A written brokerage agency agreement must clearly articulate the company's policy regarding cooperating with other companies. This aspect is crucial because it sets the framework for how the brokerage interacts with other firms within the real estate market. It ensures transparency and outlines expectations for collaboration, and can significantly impact marketing strategies, commission sharing, and the overall approach to listing and selling properties. By defining this policy in the agreement, both the brokerage and the clients can better understand how the company will engage with others in the industry. This understanding helps in making informed decisions about property transactions and can avoid potential conflicts down the line. The other choices, while relevant to the real estate process, do not directly address the necessary stipulations required in the brokerage agency agreement concerning cooperation with other companies. They deal with aspects like property types, compensation, and legal identities, which are important but not as fundamentally focused on inter-company relations as the stated policy.