02-039-410 Me. Code R. § 9

Current through 2024-51, December 18, 2024

Section 039-410-9 - Real Estate Brokerage Relationship Disclosure Procedures

1.Real Estate Brokerage Relationships Form

The Commission incorporates into this chapter by reference the Real Estate Brokerage Relationships Form attached to this chapter. (Maine Real Estate Commission Form #3 revised 07/06).

2.Obligation to Furnish Real Estate Brokerage Relationships Form

Except as provided in Section 9(3) of this chapter, a licensee shall furnish a prospective buyer or seller with a copy of the Real Estate Brokerage Relationships Form when there is substantive communication regarding a real estate transaction by either a face-to-face meeting, a written communication, or an electronic communication with the prospective buyer or seller.

3.Exceptions

A licensee is not required to provide a copy of the form to a prospective buyer or seller in the following instances:

A. The real estate is land without a residential dwelling unit or is land with more than 4 residential dwelling units;

B. The licensee is acting solely as a principal in a real estate transaction;

C. The written communication from the licensee is a solicitation of business; or

D. The licensee has knowledge, or may reasonably assume, that another licensee has given a copy of the form to a prospective buyer or seller in that transaction.

4.Completion of Real Estate Brokerage Relationships Form

The licensee shall complete the appropriate section of the form relating to the presentation of the form.

02-039 C.M.R. ch. 410, § 9