LD 1525
pg. 11
Page 10 of 14 An Act To Amend the Real Estate Brokerage Laws Page 12 of 14
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LR 2133
Item 1

 
Every real estate brokerage agency shall adopt a written
company policy that identifies and describes the types of real
estate brokerage agency relationships in which the designated
broker and affiliated licensees may engage.

 
Sec. 13. 32 MRSA §13278, sub-§§2 and 4, as enacted by PL 1993, c. 679,
§1, are amended to read:

 
2. Not a dual agent. A real estate brokerage agency and the
designated broker are not considered to be dual agents solely
because of an appointment under the provisions of this section,
except that any affiliated licensee who personally represents
both the seller and the buyer, as clients, in a particular
transaction is considered to be a disclosed dual agent and is
required to comply with the provisions of this subchapter
governing disclosed dual agents.

 
4. Appointments; roles. Methods of appointment and the role
of the real estate brokerage agency and the designated broker
must be defined by rules adopted by the commission. The rules
must include a requirement that clients be informed as to the
real estate brokerage agency's appointed agent policy and give
written consent to that policy in advance of entering into a real
estate brokerage agreement.

 
Sec. 14. 32 MRSA §13279, as amended by PL 1999, c. 100, §1, is
further amended to read:

 
§13279. Real estate brokerage relationship disclosure required

 
A real estate brokerage agency shall provide in a timely
manner to buyers and sellers of residential real property a
meaningful, written real estate brokerage agency relationship
disclosure form as defined and mandated by rules adopted by the
commission. For purposes of this section, "residential real
property" means real estate consisting of not less than one nor
more than 4 residential dwelling units.

 
Sec. 15. 32 MRSA §13281, sub-§1, as enacted by PL 1993, c. 679, §1, is
amended to read:

 
1. Effective date. The relationships set forth in this
subchapter commence on the effective date of the real estate
brokerage agency's brokerage agreement and continue until
performance, completion, termination or expiration of that
brokerage agreement.

 
Sec. 16. 32 MRSA §13281, sub-§2, ¶B, as enacted by PL 1993, c. 679, §1,
is amended to read:


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