Maryland Real Estate Salesperson Exam — All Questions

Maryland requires licensees to present the 'Understanding Whom Real Estate Agents Represent' notice to a consumer:

• a.Only at the settlement table
• b.Within three days after a contract is ratified
• c.Only when the consumer is unrepresented
• d.At the first scheduled face-to-face contact regarding a specific property✓

Maryland licensees must provide the agency-representation disclosure notice at the first scheduled face-to-face contact with a consumer concerning a specific property. The notice explains the roles of seller's agent, buyer's agent, dual agent, and subagent so consumers understand who represents their interests before they discuss confidential information.

In Maryland, when one brokerage represents both the buyer and the seller in the same transaction, the broker typically acts as a dual agent and:

• a.May share each party's confidential information freely with the other
• b.Designates separate intra-company agents to represent the buyer and the seller after obtaining written consent✓
• c.Is prohibited from the transaction under all circumstances
• d.Must withdraw and refer both parties elsewhere

Maryland permits dual agency with the written consent of both parties. The broker acts as dual agent and may designate different affiliated (intra-company) agents to advocate for the buyer and the seller respectively. The dual agent may not reveal one party's confidential negotiating information, such as the top price a buyer will pay, to the other.