New Maryland Real Estate Brokerage Relationships Requirements

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Real Estate Agent with Realty Group Referrals 16766

New Maryland Real Estate Brokerage Relationships Requirements

 

New Law Related to Real Estate Brokerage Relationships, Continuing Education and Disclosures - Real Estate Commission

On October 1, 2019, a new law related to real estate brokerage relationships, continuing education and disclosures took effect.

The changes affect key areas of the existing laws governing the practice of real estate in Maryland. The disclosure portion in §17-532.d now states, “A licensee may not disclose confidential information obtained from a prospective client in anticipation of forming a brokerage relationship, unless the prospective client consents in writing to the disclosure.”

There were also changes to continuing education requirements. The mandatory principles of real estate brokerage relationships and disclosure class replaced the agency class.

If you completed the agency class during your current period of licensure, it counts towards your continuing education requirements for this period. However, it is strongly encouraged that if you have recently taken agency, you complete the new brokerage relationships and disclosure class as soon as possible. If you do, the brokerage relationships and disclosure class will count as an elective. Under the brokers act, real estate professionals must keep current on changes in laws and regulations.

You can read the full act online.

 

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Chrysanthemum, Brookside Gardens, Montgomery County, Maryland USA
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Photograph by Roy Kelley
Roy and Dolores Kelley Photographs

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Roy and Dolores Kelley Photographs

Roy Kelley and Associates

 

Roy Kelley, Associate Broker

Realty Group Referrals (Retired from RE/MAX Realty Group)

6 Montgomery Village Ave., Suite 200

Gaithersburg, MD 20879

Main Office:  301-258-7757 (You will not reach me at this number)

Send an email message if you need my phone numbers. I will be happy to recommend a real estate professional if you are moving to the area.

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Rainmaker
429,399
Dan Pittsenbarger
Keller Williams Western Realty - Bellingham, WA
Improving Conditions

So is that an anti- "Coming Soon" rule or what is the change all about? What activity are they trying to curtail with the change?

Nov 14, 2019 01:11 PM #1
Rainmaker
3,229,508
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Home and Condo Specialists

Good tips to the Real Estate community Roy to stay in compliance in Maryland!

Nov 14, 2019 03:04 PM #2
Rainmaker
4,580,218
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Roy,

Great idea to post this for all the agents in Maryland to be aware off.  Have a great Friday.  A

Nov 14, 2019 06:34 PM #4
Rainmaker
2,604,235
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

So, would that mean that an agent who embarked on a listing appointment with a prospective seller, and was given information about certain property flaws, would not later be able to disclose those flaws to a buyer client, should the agent not ultimately be the one to list the property?

Nov 15, 2019 04:27 AM #5
Rainmaker
1,274,593
Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Roy Kelley

This is good information to pass along to those agents and brokers who work in Maryland.

Nov 15, 2019 04:50 AM #7
Rainmaker
5,511,703
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thank you very much for your comments. It is always good to hear from you.

Nov 15, 2019 05:02 AM #8
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Rainmaker
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Roy Kelley

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