Ethics
Five of forty items, drawn from the Commission's own Code of Ethics at COMAR 09.11.02, which § 17-207 requires it to adopt by regulation. The subtopics are Unfair Inducements, Dealings with Other Licensees, and General Ethics.
Unfair Inducements
Section 17-322(b)(9) reaches a licensee who influences a prospective party to a sale by offering a prize or a free lot, running a lottery or contest, or advertising 'free appraisals' unless genuinely prepared to appraise free for any person regardless of purpose. Section 17-322(b)(8) covers guaranteeing — or authorizing or allowing another to guarantee — future profits from resale; no reliance by the buyer is needed. Related grounds include knowingly making a false promise (b)(3) and conduct showing bad faith, incompetency, or improper dealings (b)(25).
Dealings with Other Licensees
The agency of a licensee holding an exclusive listing must be respected, cooperation on exclusively listed property is expected when it serves the client, commissions are shared on a previously agreed basis, and negotiations are carried on solely with the listing broker (COMAR 09.11.02.03). Soliciting a party to an exclusive listing to terminate it and relist with the soliciting licensee is a disciplinary ground (§ 17-322(b)(12)), as is soliciting a breach of a contract or lease negotiated by another (b)(13). Signs may not be placed on property without the owner's prior consent.
General Ethics
The licensee must make a reasonable effort to ascertain all material facts about every property whose agency they accept, and must not name a false consideration in any document (COMAR 09.11.02.01). Financial obligations must be in writing, with copies to all parties within a reasonable time. Real estate documents are signed by a licensee in the licensee's own name and never in the name of a group or team (09.11.02.01I). A competitive market analysis must carry the prescribed disclosure on its first page stating that it is not an appraisal, and any comparable in which the licensee has an interest must be disclosed (09.11.02.02F). Failing to ensure a purchaser holds the disclosure or disclaimer statement before an offer is submitted may itself be a breach of the duty to the client (09.11.02.02I).
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State-specific details
State exam facts
- State regulator
- Maryland Real Estate Commission (MREC)
- Exam vendor
- PSI
- Prelicensing education
- 135 clock hours (broker prelicense program), after 3 years of active licensed practice
- Passing score
- 70% on each portion (56 national, 28 state)
- Scored questions
- 115
- Time limit
- 120 minutes
Who regulates real estate brokers in Maryland?
The Maryland Real Estate Commission (MREC), within the Department of Labor's Division of Occupational and Professional Licensing, licenses brokers and salespersons. MREC contracts with PSI for its exams.
What experience do I need before the Maryland broker exam?
Business Occupations and Professions § 17-305 requires three years as a licensed salesperson actively and lawfully providing brokerage services, plus a Commission-approved broker course — 135 clock hours under COMAR 09.11.01.12. PSI also requires a Maryland license history certifying three years of active, regular, lawful practice, valid for 90 days. An applicant qualified to practice law in Maryland has both the education and experience requirements waived.
How is the Maryland broker exam structured?
PSI bulletin 529 puts the broker exam at 115 scored questions in 120 minutes: a 75-question national portion scored to 80 points in 90 minutes, and a 40-question Maryland state portion worth 40 points in 30 minutes. You must pass each portion separately — 56 of 80 points national, 28 of 40 state. Do not use the salesperson figures (80 national + 30 state = 110); the two exams differ.
What does the Maryland state portion actually cover?
Six areas, at these broker item counts: Duties and Powers of the Real Estate Commission 5, Licensing Requirements 8, Brokerage Relationships 7, Supervision 6, Business Conduct 9, and Ethics 5. 'Examination of Records' is flagged broker-only. Maryland licenses Salesperson, Associate Broker, Broker, and Branch Office Manager.
Sources: https://labor.maryland.gov/license/mrec/mrecexam.shtml, https://test-takers.psiexams.com/api/content/bulletin/529
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