Listing agreements entitle real estate agents to a commission upon closing a sale, the specific amount of which is negotiated between the owner and agent, as well as whether the fee is a fixed amount or a percentage of the final sale price. If the agent cannot secure a buyer before the expiration date set on the form, the agreement is deemed invalid, and they must cease agency.
- Laws – § 13272, § 13273, § 13274
- Dual agency (§ 13275)
- Purchase agreement – This document allows the seller of a residence to transfer ownership of the property to a buyer.
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Realtors Version
Maine Exclusive Right to Sell Listing Agreement – This official document provided by the Maine Association of Realtors® grants an agent exclusive rights to list and sell a home on behalf of the property owner.
Download: PDF
Disclosures / Waivers (3) |
1) Brokerage Relationship Disclosure
The buyer and seller of a residence must receive a copy of the Real Estate Brokerage Relationship Disclosure document so that they may have a clear understanding of the role and duties of a real estate agent. |
2) Disclosed Dual Agency
If consented to by both parties involved in a real estate transaction, an agent may provide representation for both individuals simultaneously. A dual agency can take effect once the buyer and seller sign a written document stating the details and terms of the representation in accordance with the guidelines set in § 13275 of the Maine Legislature.
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3) Property Disclosure Statement
Real estate transactions in the state of Maine cannot be finalized without the furnishing of a property disclosure statement that informs the buyer of the condition and any defects of a residence and its internal systems. |