Navigating the ins and outs of lawful land use can be challenging for an agent. Doing so requires an understanding of what information should be revealed and to whom, and what information is best kept private. As an agent, you must understand the fine print when it comes to connecting with financers; you should also know when and where to dig for more information about any aspect of the process.
Additionally, the updated 2019 law of agency addresses a few relationship-based concerns regarding brokerages and disclosures in Maryland, which you should be aware of.
By the end of this course, you will be able to:
- Brokerage Relationships:
- Define the legal bounds of brokerage agreements in Maryland,
- Understand when and to whom these agreements apply,
- Name the required elements of a brokerage agreement, and
- Comply with brokerage-relationship laws after a brokerage agreement terminates.
- Brokerage Duties
- Define the obligations to clients and non-clients alike in real estate transactions, and
- Fulfill the duties of a listing agent during property inspection as well as throughout the listing and purchase process.
- Dual and Team Agency:
- Identify when to use an intra-company agency and how to establish a legal intra-company relationship,
- List the bounds of dual agent services,
- Name the responsibilities and duties of real estate teams.
- Relationship Disclosure
- Define the duties an agent may perform on behalf of clients without breaching duties or obligations owed to other clients, and
- Properly meet the duty of confidentiality to both current and prospective clients.