Maryland HB545 regulates real estate transaction brokers in residential transactions, detailing their duties and confidentiality requirements.

Maryland HB545 establishes rules for real estate transaction brokers in residential transactions. It outlines the duties of transaction brokers, including acting honestly and fairly, accounting for trust money, exercising reasonable care, and complying with laws. The bill mandates that brokers may not disclose confidential information without written consent from the parties involved. It also requires the State Real Estate Commission to develop a standard consent form for transaction brokerages, which must be clear, divided into sections, and printed in at least 12-point type.

Maryland HB545 regulates real estate transaction brokers in residential transactions, detailing their duties and confidentiality requirements.

Maryland HB545 establishes rules for real estate transaction brokers in residential transactions. It outlines the duties of transaction brokers, including acting honestly and fairly, accounting for trust money, exercising reasonable care, and complying with laws. The bill mandates that brokers may not disclose confidential information without written consent from the parties involved. It also requires the State Real Estate Commission to develop a standard consent form for transaction brokerages, which must be clear, divided into sections, and printed in at least 12-point type.