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interests are adverse in the same transaction with the knowledge | | and informed consent of the clients. |
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| | | 8. Material fact. "Material fact" means a fact that relates | | to the transaction and is so substantial and important as to | influence the parties |
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| | | 9. Ministerial acts. "Ministerial acts" means those acts | that a real estate brokerage agency or its affiliated licensees | performdo not | require discretion or the exercise of the brokerage agency's or | its affiliated licensees' judgment | | nature and do not rise to the level of active representation on | | behalf of the person. |
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| | | 10. Real estate brokerage agency. "Real estate brokerage | | agency" means a person or entity providing real estate brokerage | | services through that person's designated broker, affiliated | | licensees, associates or employees and licensed by the commission | | as a real estate brokerage agency. |
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| | | 11. Seller agent. "Seller agent" means a real estate | brokerage agency that is engaged by and represents | | into a written brokerage agreement with the seller in a real | | estate transaction to represent the seller as the real estate | | brokerage agency's client. |
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| | | 12. Subagent. "Subagent" means a real estate brokerage | | agency engaged by another real estate brokerage agency to perform | | brokerage tasks for a client. |
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| | | 13. Third party. "Third party" means a person who is not a | client and has no agency relationship to the real estate | brokerage agency. |
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| | | 13-A.__Transaction broker.__"Transaction broker" means a real | | estate brokerage agency that provides real estate brokerage | | services to one or more parties in a real estate transaction | | without a fiduciary relationship as a buyer agent, a seller | | agent, a subagent or a disclosed dual agent. |
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| | | 14. Undisclosed dual agent. "Undisclosed dual agent" means a | | real estate brokerage agency representing 2 or more clients whose | | interests are adverse in the same transaction without the | | knowledge and informed consent of the clients. |
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| | | Sec. 14. 32 MRSA §§13272 to 13274, as enacted by PL 1993, c. 679, §1, | | are amended to read: |
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