REAL ESTATE BROKERAGE RELATIONSHIPS

Sec. 7. 32 MRSA §13271, as amended by PL 1999, c. 129, §15 and affected by §16, is further amended to read:

§13271. Definitions

As used in this subchapter, unless the context otherwise indicates, the following terms have the following meanings.

1. Affiliated licensee. "Affiliated licensee" means a licensee who is authorized to engage in brokerage activity by and on behalf of a real estate brokerage agency.

2. Appointed agent. "Appointed agent" means that affiliated licensee who is appointed by the designated broker of the affiliated licensee's real estate brokerage agency to act solely for a client of that real estate brokerage agency to the exclusion of other affiliated licensees of that real estate brokerage agency.

3. Brokerage agreement. "Brokerage agreement" means a contract that establishes the relationships between the parties as to that and the brokerage services to be performed.

4. Buyer agent. "Buyer agent" means a real estate brokerage agency that is engaged by and represents has entered into a written brokerage agreement with the buyer in a real estate transaction to represent the buyer as its client.

5. Client. "Client" means a person who has entered into a written brokerage agreement creating a special agency relationship with a real estate brokerage agency that has agreed to represent that person and be bound by the duties set forth in section 13272 on behalf of that person.

6. Designated broker. "Designated broker" means a licensee broker designated by a real estate brokerage agency to act for it the real estate brokerage agency in the conduct of real estate brokerage.

7. Disclosed dual agent. "Disclosed dual agent" means a real estate brokerage agency representing 2 or more clients whose interests are adverse in the same transaction with the knowledge and informed consent of the clients.