Jun
30
RE Licenses Required for Persons Selling New Homes
Posted by cheryl miller under For Buyers, Regional - Northeast
On April 24, 2007, Governor Martin O’Malley signed Bill HB 1288 which requires all persons selling new homes to be licensed in the state of Maryland. The licensee will be required to be supervised by a Broker (ie Long & Foster Real Estate, Inc., Weichert, RE/Max, etc.). The actual Builder/Owner is not required to be licensed. The requirement will take effect starting October 1, 2007.
This means that licenses must disclose to all customers at the first meeting agency disclosure. The form “Understanding Whom Real Estate Agents Represent” must be provided to the customer and signed prior to proceeding with any real estate function. The Broker is responsible for and must monitor the actions of the Sales Person or Associate Broker.
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