Maine Real Estate License Practice Exam

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When must brokerage agreements in Maine include a specific statement regarding compensation?

Mandatory carry over clause for broker protection
A list of personal property to be included in the transaction
A statement that the company does not compensate all companies equally, if that is the policy
Compensation expressed as a specific portion of the sales price

The correct answer is: A statement that the company does not compensate all companies equally, if that is the policy

Brokerage agreements in Maine must include a specific statement regarding compensation when the policy of the company is to not compensate all companies equally. This requirement is designed to promote transparency and ensure that all parties involved are fully aware of any disparities in compensation practices. By disclosing this information, the brokerage helps maintain trust and fosters a fair business environment. It allows clients and cooperating brokers to understand how commission structures may differ, which can significantly impact their decisions in a transaction. The context surrounding this requirement emphasizes the importance of clear communication in real estate transactions. Clients will benefit from understanding how their chosen brokerage operates and what they can expect regarding commissions, fostering informed choices. Thus, this statement serves both to protect the interests of the brokerage and to uphold ethical standards in the industry.