Maine Revised Statutes Title 32 Sec. 13177-A – Brokerage agreements
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1. Definitions. As used in this section, “brokerage agreement,” “real estate brokerage agency” and “client” have the same meanings as in section 13271.
[PL 2005, c. 378, §4 (NEW); PL 2005, c. 378, §29 (AFF).]
Terms Used In Maine Revised Statutes Title 32 Sec. 13177-A
- agency: means any person or entity engaged in real estate brokerage services through its designated broker, associates or employees and licensed by the commission as a real estate brokerage agency. See Maine Revised Statutes Title 32 Sec. 13171
- in writing: include printing and other modes of making legible words. See Maine Revised Statutes Title 1 Sec. 72
- Real estate: means all estates and lesser interests in land and an existing business if real estate is a part of the business. See Maine Revised Statutes Title 32 Sec. 13001
- Real estate brokerage: means a single instance of offering, attempting to conduct or conducting services on behalf of another for compensation, or with the expectation of receiving compensation, calculated to result in the transfer of an interest in real estate. See Maine Revised Statutes Title 32 Sec. 13001
2. Written agreements. A brokerage agreement between a real estate brokerage agency and a client must be in writing and, at a minimum, include the following:
A. The signature of the client to be charged; [PL 2005, c. 378, §4 (NEW); PL 2005, c. 378, §29 (AFF).]
B. The terms and conditions of the brokerage services to be provided; [PL 2005, c. 378, §4 (NEW); PL 2005, c. 378, §29 (AFF).]
C. The method or amount of compensation to be paid; [PL 2011, c. 286, Pt. J, §2 (AMD).]
D. The date upon which the agreement will expire; and [PL 2011, c. 286, Pt. J, §2 (AMD).]
E. A statement that the agreement creates an agency-client relationship. [PL 2011, c. 286, Pt. J, §2 (NEW).]
A brokerage agreement may not be enforced against any client who in good faith subsequently engages the services of another real estate brokerage agency following the expiration date of the first brokerage agreement. Any brokerage agreement provision extending a real estate brokerage agency’s right to a fee following expiration of the brokerage agreement may not extend that right beyond 6 months.
[PL 2011, c. 286, Pt. J, §2 (AMD).]
SECTION HISTORY
PL 2005, c. 378, §4 (NEW). PL 2005, c. 378, §29 (AFF). PL 2011, c. 286, Pt. J, §2 (AMD).