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.