Maine Real Estate License Practice Exam

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Prepare for the Maine Real Estate License Exam with engaging quizzes, flashcards, and multiple-choice questions. Each question includes hints and explanations to help you succeed. Get exam ready today!

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When must a licensee disclose that they are making the offer in the Purchase and Sale agreement?

The licensee will receive a commission in the transaction
The purchase is strictly for investment purposes
The listing is with another company
The listing is underpriced to the market

The correct answer is: The licensee will receive a commission in the transaction

A licensee must always disclose when they are making the offer in the Purchase and Sale agreement if they will receive a commission from the transaction. This requirement ensures transparency and protects all parties involved, allowing the seller and buyer to have full knowledge of the potential conflicts of interest. By disclosing their interest in the commission, the licensee avoids any appearance of impropriety or deceit, thereby enhancing the integrity of the transaction. In real estate transactions, maintaining trust is crucial, and disclosure of any potential financial benefit provides a clear understanding for all parties involved. This practice aligns with the ethical standards set forth by real estate governing bodies, which aim to foster honesty and integrity within the profession.