Each listing contract or sales contract shall state the amount of brokerage agreed upon, in either a specific amount or a specific percentage. The licensee may not accept a listing contract to sell real property that provides for a net return to the seller, leaving the licensee free to sell the real property at a price higher than the net price. A broker may not act as principal and agent in the same transaction without consent of all parties concerned. For administrative efficiency, renewal applications which are filed properly shall be processed automatically. Renewal of a license therefore may not affect the power of the Commission to bring charges for prior acts or conduct. An applicant for an original real estate broker's license shall submit a credit report from an approved credit reporting agency. The credit report shall include any judgments and local, state or federal tax liens of the applicant. If a licensee has custody or possession of money belonging to others, in the absence of proper written instructions from the parties involved in the transaction to the contrary, they shall be deposited and retained in a non-interest-bearing escrow account clearly designated as containing funds held for others. A real estate broker shall maintain a non-interest-bearing escrow or special account and report the bank's name and account number to the Commission as soon as trust monies are received. If a licensee establishes another non-interest-bearing or special escrow account, changes the escrow account number, or transfers the account to another bank, the licensee shall notify the Commission in writing within 10 days after the action. The establishment of individual interest-bearing accounts, as provided under Business Occupations and Professions Article, §17-505, Annotated Code of Maryland, need not be reported to the Commission as long as records are maintained for each account and available for inspection by Commission personnel during regular business hours. When a licensed broker changes business location, the licensed broker shall notify the Commission in writing within 10 days. Course of Instruction. Every applicant for licensure as a real estate salesperson shall furnish, at the time of filing an application for licensure, evidence of having satisfactorily completed a course of instruction in Real Estate Principles and Practices for Salespersons. This course of instruction shall be one of the following: The Realtors Institute of Maryland (G. R. I.) Course “I” consisting of a minimum of 60 clock-hours of instruction as described under §B of this regulation, sponsored by the Maryland Association of Realtors; A course approved by the Maryland Real Estate Commission, consisting of a minimum of 60 clock-hours of instruction. The minimum 60 clock-hour educational requirement for a salesperson shall embrace the following areas of study: Principles of Real Property; Landlord-Tenant Relationship; Real Estate Contracts; Rules of Agency and Listings; Transfer of Title to Real Property; Title Insurance and Settlements; Fundamentals of Appraising; Real Estate Finance; Maryland Real Estate License Law; Regulations of the Real Estate Commission; Details of the Code of Ethics; Laws and Practices Covering Human Rights and Community Relations; Basic Mathematics Pertaining to the Real Estate Industry; Property Condition Disclosure and Latent Defects; Laws and Regulations Covering Hazardous Substances. Any subjects other than those set out in §B of this regulation shall be in addition to, and not be taught as a part of, the minimum 60 clock-hour course requirements. Courses required by this regulation are not interchangeable with the requirements for brokers spelled out in Regulation .14 of this chapter. Likewise, the separate course for brokers required by Regulation .14 will not be accepted as satisfactory completion of the education requirements for salespersons, as set forth in this regulation. An individual who demonstrates by evidence satisfactory to the Commission active and regular engagement in real estate practice as a licensed real estate salesperson in a jurisdiction other than Maryland may be considered to have satisfied the educational requirement for a salesperson set forth in this regulation if the prelicensing education requirements of that jurisdiction are equivalent to or greater than those of Maryland. Effective July 1, 1995, applicants who have passed both parts of the licensing exam shall apply for licensure within 1 year of successfully completing the exam in order for the applicants' test results to remain valid. Completion of Examination. An applicant for a salesperson’s license shall have 1 year from completion of a prelicensing education course to pass both portions of the salesperson licensing examination. An applicant who does not pass both portions of the licensing examination within 1 year of the course completion date must complete a new prelicensing course in order to be eligible to take or retake the examination. All residential listing contracts, listing real property for sale, rental, lease, or exchange, either exclusive or open, shall be in writing and signed, and a copy of the contract shall be given to the seller or owner before the licensee advertises, shows, or offers the property. The definite place of business required by Business Occupations and Professions Article, §17-507, Annotated Code of Maryland, shall be an office or headquarters where the real estate broker and the real estate broker’s employees regularly transact the business of a real estate broker. The records of the brokerage business, including the records of the escrow account, shall be kept in this office or headquarters. The Real Estate Commission may not consider an answering service, a mechanical message recording device or a mail drop, singly or in combination, to satisfy the requirements of an office under Business Occupations and Professions Article, §§17-517, 17-518, and 17-520, Annotated Code of Maryland. Course of Instruction. Every applicant for licensure as a real estate broker shall furnish, at the time of filing an application for licensure, evidence of having satisfactorily completed a course of instruction in Real Estate Principles and Practices for Brokers. This course of instruction shall be one of the following: The Realtors Institute of Maryland (G. R. I.) Courses “I”, “II”, “III”, and “IV”, consisting of a minimum of 135 clock-hours or 9 semester credit hours of instruction as described under §D, of this regulation, sponsored by the Maryland Association of Realtors; or A course approved by the Maryland Real Estate Commission consisting of 135 clock-hours or 9 semester credit hours of instruction. A semester credit hour is defined as not less than 15 standard 50-minute classroom hours of instruction. The current 135 clock-hour or 9 semester credit hour minimum educational requirement effective January 1, 1979, for broker, shall substantially embrace the following areas of study: The concept of private property in relation to the constitutional powers of the federal and State governments, such as their powers of eminent domain, taxation, police powers, and escheat; Types of Property; Types of Property Interests and Restrictions; Methods of Transferring Real Property Interests; Transfer Instruments, such as Deeds, Leases, Contracts of Sale, Assignments; Financing of Real Estate Transactions; The Mortgaging Process; Settlements, including the Mathematics of Real Estate Transactions; The Role of the Real Estate Agent, including Principles of Agency, Licensing Laws, and Ethics; Real Estate Development, including Governmental Assistance Programs, Zoning, and other Governmental Restrictions on Land Development; Real Estate Appraisal; Real Estate Management; Human Relations Aspects, including study of Fair Housing Laws and effect of undesirable practices such as Exploitation, Steering, Blockbusting, Prejudicial Solicitation and related activities; Basic mathematics pertaining to the real estate industry; Real Estate Securities and Syndication; Advanced Commercial Property; Legal and License Law Update; Advanced Commercial Real Estate Financing; Creative Real Estate Financing; Advanced Sales and Leasing of Industrial Property; Relations to the Public and Proper and Ethical Advertising; Advanced Real Estate Office Management and Administration; Real Estate Exchanging; State and Federal Tax Laws; Condominium Sales, Resales and Time-Sharing Programs; Advanced Real Property Management; New Home Subdivision Marketing. Any subjects other than those set out in §C of this regulation shall be in addition to, not substituted for, the minimum 135 clock-hour requirement. Courses required by this regulation are not interchangeable with the requirements for salesman established in Regulation .11 of this chapter. Also, the separate course for salesman required by Regulation .11 will not be accepted as satisfactory completion of the education requirements for broker as set forth in this regulation. Experience Requirement for Broker. An individual who demonstrates by evidence satisfactory to the Commission active, regular, and lawful engagement in real estate practice as a licensed salesperson or broker in good standing for at least the 3 years immediately preceding submission of the application in Maryland or any other jurisdiction of the United States, District of Columbia, or United States territories may be deemed to have satisfied the 3 years experience as a salesperson required for licensure as a broker. Waiver of Educational Requirement for Broker. An individual who demonstrates by evidence satisfactory to the Commission active, regular, and lawful engagement in real estate practice as a licensed real estate broker in good standing in a jurisdiction other than Maryland for at least 3 years immediately preceding submission of the application may be deemed to have satisfied the educational requirement for broker. Licensing Examination. An applicant for a broker’s license shall have 1 year from full completion of prelicensing education requirements to pass both portions of the broker licensing examination. An applicant who does not pass both portions of the licensing examination within 1 year of completion of the requirements shall complete a new set of prelicensing education requirements in order to be eligible to take or retake the examination. Application for Licensure. An applicant who has successfully completed both portions of the licensing exam shall apply for licensure within 1 year of successfully completing the exam in order for the applicant's test results to remain valid. If an applicant or licensee receives from the Commission a written communication requesting a response, the applicant or licensee shall respond in writing within 30 days of the date of the mailing. The Commission shall send a written communication by first-class mail to the last known address furnished to the Commission by the applicant or licensee. It is a responsibility of an applicant or licensee to notify the Commission in writing if there has been a change in applicant’s or licensee’s address. Failure to respond as required by this regulation may be considered by the Commission to be a violation of Business Occupations and Professions Article, §17-322(b), Annotated Code of Maryland. The basic course of instruction required of salesmen by Business Occupations and Professions Article, §17-303(d), Annotated Code of Maryland, shall include instruction in the human relations aspect of the practice of real estate, including study of fair housing laws and effect of undesirable practices, such as exploitation, steering, blockbusting, prejudicial solicitation, discriminatory practices, misleading advertising, and related activities. The amount of compensation recoverable by a claimant from the Real Estate Guaranty Fund, pursuant to Business Occupations and Professions Article, Title 17, Subtitle 4, Real Estate Guaranty Fund, Annotated Code of Maryland, shall be restricted to the actual monetary loss incurred by the claimant, but may not include monetary losses other than the monetary loss from the originating transaction. Actual monetary losses may not include commissions owed to a licensee of this Commission acting in the licensee’s capacity as either a principal or agent in a real estate transaction, or any attorney's fees the claimant may incur in pursuing or perfecting the claim against the guaranty fund. For the purpose of this regulation, the following terms have the meanings indicated. Definitions. “Advertising” means all oral, written , and visual advertising done by the licensee or by others on behalf of the licensee including telephone solicitation by individuals or by machine. “Licensee” means a real estate broker, associate broker, or salesperson licensed by the Real Estate Commission. “Trade name” means trademark or service mark, company name or business name, irrespective of whether the licensee needs to obtain permission from another person or entity who has an existing or continuing right in that trademark or service mark by virtue of any State or federal law. Licensee Using Trade Name. In the advertising of or contracting for any real estate brokerage services defined under Business Occupations and Professions Article, §17-101, Annotated Code of Maryland, a licensee using a trade name shall clearly and unmistakably include in the advertisement or contract the licensee’s name or trade name, as registered with the Commission, to insure that the licensee’s identity is meaningfully and conspicuously displayed to members of the general public. A licensee using a trade name on a for-sale sign, business card, office sign, sales contract, listing contract, or other document relating to real estate activities as defined under Business Occupations and Professions Article, §17-101, Annotated Code of Maryland, shall clearly and unmistakably include on any of these documents the licensee’s name, or trade name, as registered with the Commission. Any licensee who is in the course of oral communication with another person (whether in person or by telephone), shall clearly and unmistakably include in the communication the licensee’s name, or trade name, as registered with the Commission, to insure that the licensee’s identity is meaningfully and conspicuously made known to that person. A real estate broker shall be a signator or at least one of the signators on checks which may be drawn on escrow accounts which, under Business Occupations and Professions Article, Title 17, Subtitle 5, Part I, Annotated Code of Maryland, this real estate broker is required to maintain at all times. This real estate broker may designate an alternate signator to sign checks, and this designated alternate signator shall be a licensee. A nonlicensed person may be a cosignator on the broker's escrow account, provided all checks are also cosigned by a designated licensee. In any transaction in which a licensee has custody or possession of funds which belong to others, in the absence of a provision to the contrary, in the contract of sale, rental lease, option agreement, or other similar type of document, and a dispute arises as to the disposition of these funds by and between the parties to the transaction, the licensee shall: Hold these funds until he or she has releases signed by all parties to the transaction authorizing disposition of the funds; File a bill of interpleader in the proper court in the county or Baltimore City, as the case may be, thereby causing these funds to be deposited in the registry of this court; Hold these funds until such time as one of the parties to the transaction files suit and the court in which this suit is filed orders the disbursement of these funds, whichever event under the purview of §§B and C of this regulation shall first occur; or Distribute the funds in accordance with the procedure set forth in Business Occupations and Professions Article, §17-505, Annotated Code of Maryland. The Commission may summarily dismiss any complaint brought against a licensee after 3 years from the date of the written listing contract, contract of sale, lease agreement, option, or actions upon which the complaint is based, unless the Commission finds that the complainant's delay in bringing the complaint was justified and that the delay does not result in an undue burden for the licensee. Unless revoked by a final order of the Commission, a licensee is suspended by operation of law under Business Occupations and Professions Article, §17-412, Annotated Code of Maryland, upon payment from the Guaranty Fund due to the conduct of a licensee. The Commission may not consider any application for reinstatement until the amount paid from the Fund because of that conduct is repaid in full, plus 12 percent interest from the time payment is made, under Business and Professions Article, §17-411(a), Annotated Code of Maryland. For purposes of this regulation only, the term “application for reinstatement” may include a written request for reissuance of a license at the discretion of the Commission. A licensee shall furnish to the Commission full information regarding an ownership interest held by the licensee in entities providing real estate brokerage services, together with the licensee's renewal application. A licensee acquiring or disposing of ownership interest in an entity providing real estate brokerage services during the licensing period shall furnish to the Commission full information regarding the resulting ownership interest within 30 days of the change in ownership. A new licensee shall furnish to the Commission full information regarding an ownership interest held by the new licensee in entities providing real estate brokerage services, at the time of application for the license. A licensee who is designated as a broker, branch office manager, or team leader shall complete a 1.5 clock-hour course that includes the requirements of broker supervision under COMAR 09.11.06.01B(8)(i) within 90 days of the effective date of the designation if the licensee has not completed that course during the previous four years. Business Occupations and Professions Article, §§17-208, 17-303, 17-306, 17-315, and 17-528, Annotated Code of Maryland Effective dates: Regulations .01—.03 effective March 16, 1967 Regulation .04 amended effective May 12, 1976 (3:10 Md. R. 529) Regulations .05—.07 effective March 16, 1967 Regulation .06 amended effective February 19, 1975 (2:4 Md. R. 227); repealed effective October 26, 1981 (8:21 Md. R. 1706) Regulation .06 adopted effective October 7, 1985 (12:20 Md. R. 1925) Regulation .07 amended effective June 15, 1987 (14:12 Md. R. 1349) Regulation .08 amended effective August 20, 1968 Regulation .09 effective March 16, 1967; amended effective October 26, 1981 (8:21 Md. R. 1706) Regulation .10 effective July 13, 1967 Regulation .11 effective December 31, 1967 Regulation .11 amended effective February 19, 1975 (2:4 Md. R. 227) Regulation .12 effective January 31, 1968 Regulation .13 amended effective February 19, 1975 (2:4 Md. R. 227); May 11, 1977 (4:10 Md. R. 766); October 26, 1981 (8:21 Md. R. 1706); June 17, 1985 (12:12 Md. R. 1162) Regulation .13A amended effective August 18, 1976 (3:17 Md. R. 915) Regulation .14 effective April 19, 1970 Regulation .15 effective June 29, 1970 Regulation .16 amended effective July 31, 1972; December 16, 1977 (4:26 Md. R. 2023); October 26, 1981 (8:21 Md. R. 1706); June 17, 1985 (12:12 Md. R. 1162) Regulation .16B amended effective February 19, 1975 (2:4 Md. R. 227) Regulation .16C amended effective August 18, 1976 (3:17 Md. R. 915) Regulation .17 effective June 29, 1970 Regulation .18 effective October 1, 1970 Regulation .19 effective February 1, 1971 Regulation .19 repealed effective October 26, 1981 (8:21 Md. R. 1706) Regulations .20—.21 effective April 25, 1972 Regulations .20—.21 repealed effective October 26, 1981 (8:21 Md. R. 1706) Regulation .22 effective July 31, 1972 Regulation .23 effective January 15, 1975 (2:3 Md. R. 152) Regulation .23 amended as an emergency provision effective February 22, 1977 (4:6 Md. R. 504) Regulation .23 amended effective June 25, 1977 (4:13 Md. R. 1030) Regulation .23 amended effective September 22, 1978 (5:19 Md. R. 1445) Regulation .23 amended as an emergency provision effective September 24, 1980 (7:21 Md. R. 1987); adopted permanently effective February 6, 1981 (8:3 Md. R. 226) Regulation .23 amended effective September 28, 1981 (8:19 Md. R. 1565) Regulation .23 amended as an emergency provision effective February 7, 1983 (10:6 Md. R. 535); emergency status extended at 10:8 Md. R. 720 and 10:14 Md. R. 1257; emergency status expired October 1, 1983 (Emergency regulations are temporary and not printed in COMAR) Regulation .23 amended as an emergency provision effective August 11, 1983 (10:18 Md. R. 1605); adopted permanently effective November 7, 1983 (10:22 Md. R. 1965) Regulation .23 repealed pursuant to State Government Article, §7-209(l), Annotated Code of Maryland, having been found unconstitutional by the United States District Court for the District of Maryland Regulation .24 amended effective January 5, 1977 (4:1 Md. R. 18) (adopted as Regulation .31); May 24, 1982 (9:10 Md. R. 1020) Regulation .25 adopted effective August 31, 1977 (4:18 Md. R. 1397) Regulation .26 adopted effective September 22, 1978 (5:19 Md. R. 1445) Regulation .27 adopted effective February 8, 1980 (7:3 Md. R. 263) Regulation .28 adopted effective September 5, 1980 (7:18 Md. R. 1739) Regulation .28 repealed and new .28 adopted effective November 18, 1985 (12:23 Md. R. 2215) Regulation .29 adopted effective September 5, 1980 (7:18 Md. R. 1739) Regulation .29 repealed effective May 24, 1982 (9:10 Md. R. 1020) Regulation .29 adopted effective November 18, 1985 (12:23 Md. R. 2215) Chapter revised effective June 11, 1990 (17:11 Md. R. 1342) Regulation .04 amended as an emergency provision effective February 27, 1992 (19:6 Md. R. 669); emergency status extended at 19:16 Md. R. 1466 (August 7, 1992); emergency status expired February 3, 1993 Regulation .05 repealed effective August 19, 2013 (40:16 Md. R. 1342) Regulation .11 amended effective January 1, 1996 (22:10 Md. R. 706); February 22, 1999 (26:4 Md. R. 273) Regulation .11B, G amended effective February 18, 2013 (40:3 Md. R. 217) Regulation .14 amended effective August 19, 2013 (40:16 Md. R. 1342) Regulation .14G adopted effective November 17, 1997 (24:23 Md. R. 1609) Regulation .23 amended effective April 13, 1992 (19:7 Md. R. 745) Regulation .24 repealed as an emergency provision effective January 1, 1999 (26:1 Md. R. 17); repealed permanently effective May 3, 1999 (26:9 Md. R. 730) Regulation .25 adopted effective October 7, 1996 (23:20 Md. R. 1421) Regulation .26 adopted as an emergency provision effective May 3, 1996 (23:11 Md. R. 807); adopted permanently effective November 4, 1996 (23:22 Md. R. 1495) Regulation .26B amended effective February 22, 1999 (26:4 Md. R. 273) Regulation .27 adopted effective October 29. 2012 (39:21 Md. R. 1378) Chapter revised effective June 1, 2017 (44:8 Md. R. 401) Chapter Regulations renumbered to correct prior Final Action effective June 1, 2017 (44:8 Md. R. 401) Regulation .13 repealed and new Regulation .13 adopted effective January 14, 2019 (46:1 Md. R. 11) Regulation .23 amended effective April 27, 2026 (53:8 Md. R. 355) The licensee shall remain informed of matters affecting real estate in the community, the State, and the nation. The licensee shall be informed on current market conditions in order to be in a position to advise clients as to the fair market price. The licensee shall protect the public against fraud, misrepresentation, or unethical practices in the real estate field. The licensee shall endeavor to eliminate in the community any practices which could be damaging to the public or to the dignity and integrity of the real estate profession. The licensee shall assist the commission charged with regulating the practices of brokers, associate brokers, and salespersons in this State. The licensee shall make a reasonable effort to ascertain all material facts concerning every property for which the licensee accepts the agency, in order to fulfill the obligation to avoid error, exaggeration, misrepresentation, or concealment of material facts. The licensee, acting as agent, may not discriminate in the sale, rental, leasing, trading, or transferring of property to any person or group of persons in violation of State Government Article, §20-402, Annotated Code of Maryland. The licensee may not be a party to the naming of a false consideration in any document. Advertisement. For the purposes of this regulation, “advertisement” means any representation, promotion, or solicitation directed to consumers, by any means of communication, for any purpose concerning the provision of real estate brokerage services. The licensee in advertising shall be especially careful to present a true picture. A broker may not advertise without disclosing the broker's name or the company name as it appears on the license. A broker may not permit associate brokers or salespersons to use individual names unless the connection with the broker is obvious in the advertisement. Effective October 1, 2004, an associate broker or salesperson may not use an individual telephone number or email address in an advertisement unless the identified telephone number of the broker or branch office manager also appears in the advertisement. Any electronic media advertisement shall contain the applicable disclosures set forth in §G(2) and (3) of this regulation either: On the first 25 percent of the main page of the electronic media advertisement; or If the electronic media under §G(4)(a) of this regulation has a limitation of 280 characters or fewer, on the first 25 percent of a page that is accessible after a single click on a hyperlink on the main page of the electronic media advertisement. Interpretation of “Directly Connected” Under Business Occupations and Professions Article, §17-547(c), Annotated Code of Maryland. The Commission considers a team name to be “directly connected” to a brokerage name under Business Occupations and Professions Article, §17-547(c), Annotated Code of Maryland, if: The word “of”, “from”, “with”, or “at” is the only word between the team name and the brokerage name; and No other word, symbol, or image is between the team name and the brokerage name. For the protection of all parties with whom the licensee deals, the licensee shall see to it that financial obligations and commitments regarding real estate transactions are in writing, expressing the exact agreement of the parties, and that copies of these agreements are placed in the hands of all parties involved within a reasonable time after the agreements are executed. All real estate documents shall be signed by a licensee in the licensee's own name, and may not be signed in the name of a group or team. In accepting employment as an agent, the licensee shall protect and promote the interests of the client. This obligation of absolute fidelity to the client's interest is primary, but it does not relieve the licensee from the statutory obligations towards the other parties to the transaction. In justice to those who place their interests in the licensee's care, the licensee shall endeavor always to be informed regarding laws, proposed legislation, governmental orders, and other essential information and public policies which affect those interests. A licensee may not accept compensation from more than one party to a transaction without the full knowledge of all the parties. Disclosure Requirement for Licensees and Employees Buying, Selling, Leasing, and Renting Property. A licensee seeking to acquire an interest in real property must disclose the licensee’s licensing status in writing to the seller or lessor of the property no later than the time that an offer is submitted. The disclosure requirement of §D(1) of this regulation also applies when the licensee is acting on behalf of or representing: A member of the licensee’s immediate family; An entity in which the licensee has an ownership interest; An employee of the real estate brokerage with which the licensee is affiliated; or An employee of a team or group of which the licensee is a member. A licensee seeking to sell or lease real property owned by the licensee must disclose that ownership interest in writing at the time that the property is offered for sale or lease. The disclosure requirement of §D(3) of this regulation also applies when the licensee is acting on behalf of or representing: A member of the licensee’s immediate family; An entity in which the licensee has an ownership interest; An employee of the real estate brokerage with which the licensee is affiliated; or An employee of a team or group of which the licensee is a member. Written notice required by §D(3) and (4) of this regulation may be given through the multiple list service and through any other written means effective in bringing the information to the attention of prospective buyers or lessees. The licensee’s immediate family shall include the licensee’s spouse or domestic partner, child, stepchild, child’s spouse, stepchild’s spouse, parent, sibling, grandparent, or grandchild. When acting as agent in the management of property, the licensee may not accept any commission, rebate, or profit on expenditures made for an owner without the owner's knowledge and consent. Competitive Market Analysis. A licensee may prepare a competitive market analysis of a specific property for a client, prospective client, or customer. The analysis shall include the following statement printed conspicuously and without change on the first page: If a licensee includes a property in which the licensee has an interest as one of the comparables, that fact shall be disclosed to the client, prospective client, or customer. The licensee may not submit or advertise property without authority. In any offering, the price quoted may not be other than that agreed upon with the owners as the offering price. Presentation of Offers. A licensee shall present all written offers or counteroffers received by the licensee to the client, as required by Business Occupations and Professions Article, §17-532(c)(ii)(3), Annotated Code of Maryland, in accordance with §H(2) of this regulation. Unless otherwise specified in the brokerage agreement, all written offers or counteroffers shall be presented to the client: In full; and In hard copy or electronic format. Unexcused failure to ensure that a prospective purchaser has the real property disclosure statement or disclaimer statement in hand before the submission of an offer to purchase may be considered a violation of the licensee's obligation to protect and promote the interests of the licensee's client when this failure could result in a contract becoming void or voidable. The agency of a licensee who holds an exclusive listing, shall be respected. The licensee shall cooperate with other brokers on property listed by the licensee exclusively whenever it is in the interest of the client, and share commissions on a previously agreed basis. Negotiations concerning property listed exclusively with one broker shall be carried on solely with the listing broker. Signs giving notice of property for sale, rent, lease, or exchange may not be placed on any property without the owner's prior consent. Business Occupations and Professions Article, §§17-207, 17-208, and 17-547, Annotated Code of Maryland Effective date: Regulation .01A—D amended effective March 17, 1976 (3:6 Md. R. 358); May 1, 2000 (27:8 Md. R. 798) Regulation .01C repealed May 12, 1976 (3:10 Md. R. 529) Regulation .01C adopted effective June 9, 1976 (3:12 Md. R. 643) Regulation .01E amended effective October 23, 1968 Regulation .01E amended effective March 17, 1976 (3:6 Md. R. 358); May 1, 2000 (27:8 Md. R. 798) Regulation .01F—H amended effective March 17, 1976 (3:6 Md. R. 358) Regulation .02A—C amended effective March 17, 1976 (3:6 Md. R. 358) Regulation .02D amended effective June 23, 1972 Regulation .02D amended effective March 17, 1976 (3:6 Md. R. 358); May 1, 2000 (27:8 Md. R. 798) Regulation .02E—I amended effective March 17, 1976 (3:6 Md. R. 358) Regulation .02F, G amended effective January 8, 2001 (27:26 Md. R. 2357) Regulation .02J adopted as an emergency provision effective January 6, 1994 (21:2 Md. R. 94); emergency status expired July 1, 1994; adopted permanently effective July 18, 1994 (21:14 Md. R. 1228) Regulation .03 amended effective March 17, 1976 (3:6 Md. R. 358) Regulation .03A amended effective October 12, 1981 (8:20 Md. R. 1634) Regulation .03C repealed effective October 12, 1981 (8:20 Md. R. 1634) Chapter revised effective May 1, 2000 (27:8 Md. R. 798) Regulation .01E amended effective March 19, 2012 (39:5 Md. R. 381) Regulation .01G amended effective April 26, 2004 (31:8 Md. R. 645); March 7, 2022 (49:5 Md. R. 365) Regulation .01I adopted effective April 11, 2005 (32:7 Md. R. 678) Regulation .01J adopted effective August 18, 2014 (41:16 Md. R. 945) Regulation .01J repealed effective June 1, 2017 (44:8 Md. R. 402) Regulation .02 amended effective July 19, 2004 (31:14 Md. R. 1078) Regulation .02D amended effective April 11, 2005 (32:7 Md. R. 678); March 19, 2012 (39:5 Md. R. 381); April 15, 2013 (40:7 Md. R. 610) Regulation .02H amended effective June 1, 2015 (42:9 Md. R. 646) Except as otherwise provided in §§B, C, D, and E of this regulation, all contested case hearings before the Commission are governed by COMAR 09.01.02. A hearing shall be conducted before a designated hearing panel of three members of the Commission convened pursuant to Business Occupations and Professions Article, §17-325, Annotated Code of Maryland. The panel shall have a chairman who shall conduct the hearing and, in consultation with counsel, make all rulings on procedure and evidence. The chairman of a panel in an exceptions hearing may impose reasonable time limitations for the arguments presented by the parties. The panel may dismiss an application case without holding a hearing if the applicant fails to appear at the scheduled time after receiving proper notice. The panel may dismiss an appeal without holding a hearing if the person who filed exceptions to the proposed order fails to appear at the scheduled time after receiving proper notice. Except as otherwise provided in Regulation .03 of this chapter, all contested case hearings delegated to the Office of Administrative Hearings are governed by COMAR 09.01.03. A party in a contested case hearing may receive discovery of facts from the Commission if the party makes a request to that effect at least 15 days before the hearing date. If a timely request is not made, any objection based on surprise or insufficiency of the notice shall be deemed waived. Business Occupations and Professions Article, §17-208, Annotated Code of Maryland Effective date: July 12, 1973 Regulation .01B amended effective May 24, 1982 (9:10 Md. R. 1020) Regulation .01E amended effective November 23, 1981 (8:23 Md. R. 1855) Regulation .01 amended effective June 17, 1985 (12:12 Md. R. 1163) Regulation .02E, F, and I amended effective June 20, 1983 (10:12 Md. R. 1072) Regulation .03 amended effective June 17, 1985 (12:12 Md. R. 1163) Regulation .03D and E amended effective April 13, 1992 (19:7 Md. R. 745) Regulation .04 amended effective September 14, 1981 (8:18 Md. R. 1479); June 17, 1985 (12:12 Md. R. 1163) Regulations .01—.04 repealed and new Regulations .01—.04 adopted effective March 1, 2004 (31:4 Md. R. 314) Regulation .04 repealed effective June 1, 2017 (44:8 Md. R. 402) Application for registration as a time share developer shall be made on forms provided by the Commission at the offices of the Commission. The application shall contain all of the documents and information required. A surety bond submitted with the application for registration shall be written on a form furnished by the Commission displaying the name of the principal on the bond as it appears on the application of the developer. The statutory fee shall accompany the application as well as any other items deemed relevant by the Commission to determine that the statutory or regulatory standards or prerequisites have been met. These items may include credit reports, personal references, abstracts of title, and the like. If, within 30 days after receiving an application, the Commission determines that any prerequisite for registration has not been met, the Commission shall return the application to the applicant with a statement specifying the deficiencies in the application, provided, that if the commission has reason to believe that the application may readily be put into proper form, it may retain the application and notify the applicant of the steps which shall be taken to correct the deficiencies. Denial of an application on other than technical grounds will be communicated to the applicant by at least first class mail at the address stated on the application. The denial notice will inform the applicant that the applicant may file a written request for a hearing on the denial before a Hearing Panel of the Commission. All hearings regarding denials of applications or revocations or suspensions of registration of time share developers are governed by COMAR 09.01.02. The developer shall maintain records of the names and addresses of licensed real estate brokers, employees, or independent contractors employed by it for the purpose of sales of time share estates in Maryland, and make those records available to the Commission upon request. Purchase Money. The developer shall maintain a surety bond in accordance with the schedule set forth in Real Property Article, §11A-116, Annotated Code of Maryland. The penalty of bond shall reflect the amount of purchase money held by the developer, the developer’s agents, employees, licensed real estate brokers or independent contractors engaged by the developer resulting from the sale of time share estates in Maryland. The developer shall make available to the Commission, upon its request, all records concerning the amount of purchase money held by the developer, the developer’s agents, employees, or independent contractors. The Commission may request a developer to submit a certified statement from a certified public accountant with respect to purchase money obtained by or on behalf of the developer. The developer shall maintain records of all transactions regarding the sale of time share estates sold in Maryland. The records shall include copies of the contract of sale, mortgage deed of trust, and documentation reflecting the disposition of purchase money obtained directly from the purchaser, or from the developers' agents, employees, licensed real estate brokers or independent contractors engaged by the developer. A time share estate may not be offered for sale until the developer has forwarded to the Commission a list of all the estates, including the address, type of estate, and the nature of any encumbrance existing on the property. A promise, assertion, representation, or statement of fact or opinion in connection with a time share marketing activity may not be made which is false, inaccurate, or misleading by reason of inclusion of an untrue statement of a material fact or omission of a statement of a material fact relative to the actual or intended characteristics, circumstances, or features of the time share project or time share estate. There may not be indication or assertion by a developer that an improvement will be built or placed in a time share project and be made available for use by purchasers of a time share estate unless the developer has sufficient financial assets and bona fide intention to complete the improvement represented. A promise, assertion, representation, or statement of fact or opinion made in connection with a time share marketing activity relating to the sale of time share estates in a project located in this State, may not, by its terms, induce, solicit, or encourage a prospective purchaser to leave Maryland for the purpose of executing a contract for sale or performing some other act which would create a legal or equitable interest in a time share estate, when to do so would circumvent the provisions of Maryland law. A time share developer, real estate broker, salesman, or any other person may not advertise or represent that the Real Estate Commission has approved or recommended any time share project or estate offered for sale. Business Occupations and Professions Article, §17-208, Annotated Code of Maryland Effective date: November 7, 1983 (10:22 Md. R. 1965) Regulation .01 amended effective June 1, 2017 (44:8 Md. R. 402) Regulation .02 amended effective June 1, 2017 (44:8 Md. R. 402) Regulation .03B amended effective June 1, 2017 (44:8 Md. R. 402) Supervision means direction and review by the: Broker of professional real estate activities by associate brokers, designated sales managers and salespersons associated with that brokerage, regardless of the type of work relationship existing between them; Broker of the supervisory activities of each branch office manager; and Branch office manager of professional real estate activities by the associate brokers and salespersons registered with that office. A broker shall exercise reasonable and adequate supervision over the activities of the broker's associate brokers and salespersons. A branch office manager shall exercise reasonable and adequate supervision over the activities of the associate brokers and salespersons registered with that office. The exercise of reasonable and adequate supervision as defined in this chapter may not be construed or deemed to create an employer/employee relationship between the broker and licensed associated brokers and licensed salespersons under the broker's supervision, or to alter the status of an individual as an independent contractor. Initially, the operations characteristics of the brokerage firm shall be considered by determining the: Number of licensed salespersons and associate brokers affiliated with the broker; Number of branch offices and salespersons assigned to each office; Number of management personnel in each office; Normal and routine working days and hours of the broker and management personnel; Type of real estate activities of firm. Factors to be considered in determining whether supervision is reasonable and adequate include, but are not limited to, the following: Availability of: Training or education sessions held regularly at least once every 2 months; Experienced supervisory personnel to review and discuss: Contract provisions; Brokerage agreement provisions; and Advertising; Written procedures and policies which provide clear guidance in the following areas: Proper handling of deposit monies and other funds in accordance with Business Occupations and Professions Article, §§17-501—17-508, Annotated Code of Maryland; Compliance with federal, State, and local fair housing laws and regulations; Advertisement requirements applicable to real estate transactions; Review of contracts, leases, and brokerage agreements upon execution by all parties to the contract, lease, or brokerage agreement; Use and limitations of unlicensed personal assistants; Disclosure of agency relationships by licensees in residential real estate transactions; Distribution and dissemination of information on new or changed requirements in real estate laws and regulations enacted by local, State, and federal governments and regulatory agencies; The obligation of all licensees to comply with all applicable provisions of Business Occupations and Professions Article, Title 17, Annotated Code of Maryland (the Maryland Real Estate Brokers Act), the Code of Ethics as adopted and as amended from time to time by the Commission, and all applicable local, State, and federal laws and regulations; Requirements, restrictions, and limitations applicable to the sale or lease of real property personally owned by a licensee and the purchase or lease of real property by a licensee for the licensee's personal use; and The unauthorized practice of law by a licensee; and Evidence of: Records of attendance at sales meetings; Review by the broker, branch office manager, or designee of the broker or branch office manager of contracts of sale, leases, and brokerage agreements executed by all parties to the contract, lease, or brokerage agreement; Review by the broker, branch office manager, or designee of the broker or branch office manager of advertisements to be placed by licensees affiliated with the broker; Compliance with the written policies and procedures as specified in §B(1)(c) of this regulation; and Dissemination of the written policies and procedures as specified in §B(1)(c) of this regulation to licensees affiliated with the broker. On a showing that the broker has not provided reasonable and adequate supervision in the areas under §B of this regulation, the burden of proof shall be on the broker to show that the supervision which the broker did provide was reasonable and adequate. Business Occupations and Professions Article, §§17-208 and 17-320, Annotated Code of Maryland Effective date: March 21, 1988 (15:6 Md. R. 739) Chapter revised effective September 17, 2001 (28:18 Md. R. 1620) In this chapter, the following terms have the meanings indicated. Terms Defined. “Approved continuing education course” means a continuing education course approved by the Commission. “Classroom instruction” means the art or science of teaching in a space: Exclusively used for instructing during periods of instruction; Which is conducive to learning; and Where an assigned instructor is present. “Clock hour” means a minimum of 50 minutes of instruction per 60-minute hour. “Commission” means the State Real Estate Commission. “Continuing education course” means a course related to real estate taught by a qualified instructor who is experienced in the real estate industry through: Classroom instruction; or A design and delivery system for distance learning instruction. “Course” means classroom or distance learning instruction of 1.5 clock hours, but not more than 6 clock hours. “Course provider” means an entity that is qualified to conduct continuing education courses in accordance with Business Occupations and Professions Article, §17-315(c), Annotated Code of Maryland. “Course related to real estate” means a course which covers one or more of the following topics: Federal, State, or local legislative issues; Antitrust law; Fair housing law; Real estate ethics or professional standards; Disclosure; Professional enhancement for practicing licensees; Technology relating to real estate brokerage services; The principles of agency and agency disclosure; and The requirements of supervision by brokers, branch office managers, and team leaders. Distance Learning Instruction. “Distance learning instruction” means the art or science of teaching where: The instructor and student may be separated by distance and time; Equipment may be needed to communicate the content; and The content is specifically developed for this form of instruction. Distance learning methods include: The specific delivery systems listed in Business Occupations and Professions Article, §17-315, Annotated Code of Maryland; and Any other delivery system approved by the Commission. “Instructor” means an individual engaged by a course provider to teach a continuing education course. There is an Education Committee consisting of Commission members appointed by the Chairman. The Committee shall include at least two licensee members and one consumer member. A course provider who has been denied approval of a course by Commission staff may request the Committee to review that decision. The request for review shall be filed within 10 business days of receipt of the denial notice. The Committee shall review the request and issue a decision within 20 days. An applicant for approval as a course provider whose application has been turned down or a course provider whose approval to offer courses has been suspended or withdrawn by Commission staff may request an informal conference with the Committee to review that decision. The request for the conference shall be filed within 10 business days of receipt of the denial, suspension, or withdrawal notice. After the conference, the Committee shall either approve the course provider or refer the matter to a hearing panel of the Commission for a hearing in accordance with Business Occupations and Professions Article, §17-326, Annotated Code of Maryland. The hearing panel shall hold a hearing within 60 days of the referral from the Committee, and issue a decision within 30 days after the hearing. An applicant or course provider may waive the right to a hearing and request the hearing panel to review the decision to deny, suspend, or withdraw approval based on documentary evidence. The decision of the hearing panel as to suspension or withdrawal of course provider approval shall be based on the seriousness of the offense charged, the good faith of the provider, and any prior history of violations by the provider. The decisions of the Committee as to course approval and the hearing panel as to approval of a course provider are the final decisions of the Commission. If a course provider makes a timely request for review of a decision to suspend or withdraw its approval to offer courses, that action shall be stayed until the final decision of the Commission. In order to qualify as an educational institution under Business Occupations and Professions Article, §17-315(c)(1), Annotated Code of Maryland, the institution shall provide the Commission with evidence of its approval by the Maryland Higher Education Commission as a career school eligible to provide the Real Estate Principles and Practices course at the currently mandated hours for prelicensing education. A completed application for approval as a course provider shall be submitted to the Commission at least 30 days prior to the first course offering date. Course providers shall have the following responsibilities: To provide instructors qualified to teach the subjects offered; To train all instructors and course monitors in course protocol, including classroom conduct and record keeping; To oversee all aspects of course provision and the format and content of all advertising of course offerings; To maintain all required records; and To respond to all inquiries from the Commission within 10 days. A course provider who has not offered at least one Commission-approved course in a 12-month period shall requalify as a course provider. All payments for courses shall be made directly to the approved course provider or to the course provider’s third party payment processor. The course provider shall set and administer course cancellation and fee refund policies in a nondiscriminatory manner. The course provider shall maintain records of course attendees including sign-in sheets, detailed course outlines, instructor information including resumes and other background information, and, if required, final grades for at least 5 years after the expiration date of each course offering. The course provider shall give Commission representatives access to course records on request. The following situations could form the basis on which course provider approval is denied, suspended, or withdrawn: Submission of false information in an application for provider or course approval; Failure of the course provider to maintain its status as a professional association or educational institution under the laws of Maryland; Discipline by the Commission of a course provider who holds a real estate license in a matter relating to the licensee’s provision of real estate brokerage services; Repeated cancellation of scheduled courses by the course provider; Failure of the course provider to reimburse prepaid fees to licensees after scheduled courses have been cancelled; Issuance of blank certificates of course completion; Repeated issuance of inaccurate certificates of course completion with regard to topic, course number, and course title; Submission of inaccurate course completion information to the Commission; Repeated issuance of certificates of course completion to licensees who were not entitled to them; Submission of course completion information to the Commission for licensees who were not entitled to obtain credits; Failure to maintain the records required by the Commission, including rosters of attendees and sign-in sheets; Failure to timely respond to inquiries and requests for records from the Commission; and Failure of the course provider or any representative of the course provider, including instructors and monitors, to comply with regulations governing continuing education. The course provider shall submit an application for a class in a particular subject matter at least 30 days prior to the date of the first offering of the course. The Commission may request an outline of the course content as part of the approval process. The Commission shall approve or deny the application within 20 days of the submission of the completed application. The Commission may approve a course for up to 2 years from the approval date. The Commission may approve a continuing education course that meets all of the following five criteria: The course is a mandated or elective course designed for: Protecting the general public in their real estate transactions; Enabling the licensee to serve the objectives of the consumer in a real estate transaction; or Enabling the licensee to develop competency and professionalism in a changing marketplace; The course covers the topic area cited in the application; The course is developed for a knowledge and ability level beyond the professional entry level; The course has an outline detailing the sequence of topics and the amount of time allotted to each topic; and The course consists of at least 1.5 clock hours. A course provider may not materially change the content of an approved course without the prior written approval of the Commission. Advertising related only to a specific course shall be in the name of the approved course provider. The name of a course sponsor may appear in the advertising, but may not be in a font size or format that exceeds that of the approved course provider. The role of the sponsor as to the course shall be included in the advertising. The course provider’s name as reflected in the application form, its telephone and electronic contact information, and its office address shall appear in all course advertising. Contact information for individuals or entities other than the approved course provider may not appear in the advertising material for a specific course. A course offered as part of an event such as a conference, convention, trade show, or education day may be advertised in the publication for that event. That publication may contain other information or advertising, including reference to event sponsors. The advertising material for a specific course shall include the title, topic, name of approved course provider, Commission approval number, number of approved hours, and cost of the course. For programs where the continuing education credits are less than the classroom hours, the course provider shall inform students in advance that the full program must be completed in order to receive the continuing education credits. A course pending approval by the Commission shall be advertised as “subject to Commission approval”. Course provider policies on refunds and cancellations shall be available to licensees prior to payment of the course fee. Advertising for all approved classroom courses offered by a course provider shall state that the course is open to all licensees based on availability. Prior to enrollment, the provider of distance learning courses shall: Provide to licensees information on course requirements, including minimum system needs for interactive programs, and availability of technical and instructor assistance; and Notify licensees that the time for completion of a distance learning course could exceed the credit hours received for the course. Each classroom in which courses are given shall: Meet all fire, safety, zoning, and Americans with Disabilities Act (ADA) requirements; Be of sufficient size to comfortably accommodate all enrolled students; Provide an appropriate learning environment; and Be free of distractions that would disrupt class sessions. Scheduling. The maximum permissible class session without a break is 90 minutes. A course scheduled for more than 4 hours in one day shall include a meal break of at least 30 minutes, but not more than 90 minutes. A course shall begin promptly at the scheduled time. Records. The course provider shall require each licensee to show a picture ID in order to be admitted to a class for which the licensee has enrolled. The course provider shall maintain a sign-in sheet containing: The printed names and the signatures of all enrolled licensees on their arrival; and Notation by the instructor or monitor of the beginning and end times of any absences of the licensee from the class during the instructional period. The course provider shall give each student at check-in a copy of the continuing education student information sheet furnished to the provider by the Commission unless the sheet has previously been made available to students electronically. The course provider shall require at the conclusion of the course that all enrolled licensees: Sign the sign-in sheet; or Verify their complete attendance through a system that includes some form of personal identification. Classroom Conduct. Students may not take reading material unrelated to the course into the classroom. Instructors, monitors, and students may not consult any personal electronic communication devices (Blackberries or iPhones, for example) during a class session. Class time may not be used to promote or sell any materials or services or to solicit affiliation or membership in any business or organization. Monitors. A monitor is not required if the class consists of 25 or fewer pre-registered students. Monitors in addition to the instructor are required under the following conditions: 26 to 50 preregistered students — 1 monitor; 51 to 100 preregistered students — 2 monitors; More than 100 preregistered students — 1 additional monitor for each additional 100 students. Instructors. The instructor shall teach the course in substantially the same manner as that set forth in the outline submitted to the Commission. Course Credit. A student may not receive credit hours for a course if: The student arrives after the classroom instruction begins or departs prior to the class being dismissed; or The student is out of the classroom during the instruction period for more than 5 minutes during a 60-minute period. A course provider, instructor, or monitor may not make an exception to the attendance requirements under any circumstances. A student may not receive partial credit for a course. Certificate of Completion. A certificate of completion shall be distributed by the instructor at the end of the class, or mailed or electronically transmitted to the student at a later date. A course provider or instructor may not: Issue a certificate of completion to a student who has not complied with all regulations governing the conduct of the course, including the timeliness and attendance requirements; or Submit course completion information to the Commission for a student who has not complied with all regulations governing the conduct of the course, including the timeliness and attendance requirements. Cancellation of Course. In the event of a course cancellation, the course provider shall: Make reasonable efforts to notify preregistered students of the cancellation; and Refund all prepaid fees within 30 days of the date of cancellation or, with the permission of the student, apply the fees to another course. Pre-approval. A course will qualify for continuing education credit only if the Commission has approved the form, substance, and subject matter of the course before the course is given. Prelicensing Courses. An instruction program for prelicensing examination preparation does not constitute qualifying credit hours for the continuing education requirement. Licenses Originating in Other Jurisdictions. Subject to §D(2) of this regulation, unless a licensee originally licensed in another jurisdiction has received the Maryland license pursuant to a written reciprocity agreement, the licensee shall meet all Maryland continuing education requirements. A licensee may receive credit for an elective course taken in a jurisdiction where the licensee holds a license if that course was approved for continuing education credit by the real estate licensing authority in that jurisdiction. All courses in subject areas mandated by Maryland law shall be taken from a course provider approved by the Commission. A licensee holding a reciprocal category license based on a reciprocity agreement with another jurisdiction is required to complete only the continuing education requirements set forth in the agreement. Legislators. A member of the General Assembly who holds a current real estate license may receive credit for the 3-hour continuing education requirement for legislative update based on service in the General Assembly during that 2-year licensing period. Disciplinary Action. A licensee may not use continuing education course hour credit for course hours completed as part of the resolution of a Commission disciplinary action as credit hours toward renewal of license requirement. Instructors and Monitors. A course instructor and a monitor may receive continuing education credit for the first time an approved course is taught or monitored during each licensing cycle. Mandated Agency and Supervision Courses. Agency and supervision courses mandated by Business Occupations and Professions Article, §17-315(b)(2)(v) and (vi), Annotated Code of Maryland, must include the curriculum approved by the Commission and must be taught by course instructors who have completed the related training course provided by the Commission. The provider of a distance learning course shall obtain approval of the technical aspects of a course from an entity recognized by the Commission in the field of technical expertise before submitting the course to the Commission for review of its substance and subject matter. In a distance learning course, if the course provider and the student are separated by space and time: The provider’s technical staff: May answer student questions about technical support and delivery method; but May not answer questions about content; and The assigned instructor shall respond to questions from students about course content within 2 business days. The course provider shall be responsible for establishing guidelines for the completion of a distance learning course and any specific components of the course. A distance learning instruction course shall include the following requirements: The student shall complete the instructional module or modules and receive a passing grade on a final examination administered and graded by the approved provider; The passing grade shall be 70 percent or higher; and If a student fails initially to achieve a passing score on a final examination, the student shall successfully pass the examination within a time frame set by the course provider in order to use the course for credit toward the continuing education requirement. Student Affirmation. The course provider shall be responsible for obtaining from students who have completed a distance learning course the following affirmation: "I (name of student) affirm that I have personally completed every requirement of the course and that I have not provided any aspect of the course to others.” The course provider may obtain the affirmation described in §E(1) of this regulation by electronic means. Business Occupations and Professions Article, §§17-208 and 17-315, Annotated Code of Maryland Effective date: July 5, 1993 (20:13 Md. R. 1046) Regulation .01B amended effective June 30, 1997 (24:13 Md. R. 930) Regulation .04 adopted effective June 30, 1997 (24:13 Md. R. 930) Chapter revised effective April 26, 2004 (31:8 Md. R. 646) Chapter revised effective April 18, 2011 (38:8 Md. R. 505) Regulation .01B amended effective June 1, 2017 (44:8 Md. R. 402) Regulation .03 amended effective June 1, 2017 (44:8 Md. R. 402) Regulation .05A amended effective June 1, 2017 (44:8 Md. R. 402) Regulation .08G amended effective June 1, 2017 (44:8 Md. R. 402) Regulation .09 amended effective June 1, 2017 (44:8 Md. R. 402) Regulation .10E amended effective June 1, 2017 (44:8 Md. R. 402) Regulation .10F repealed effective June 1, 2017 (44:8 Md. R. 402) In accordance with the provisions of the Real Property Article, §10-702, Annotated Code of Maryland the disclosure/disclaimer statement form provided by the Maryland Real Estate Commission shall be used in all applicable real property transactions. FORMS AT END OF CHAPTER. A licensed broker, associate broker, or salesperson acting as a seller’s agent should obtain a written residential property condition disclosure statement or a written residential property disclaimer statement at the time the licensed broker, associate broker, or salesperson obtains the listing on the property. The seller’s agent should provide the disclosure statement or disclaimer statement to the prospective purchaser or to the buyer’s agent assisting the purchaser promptly upon notification that an offer is going to be made. If the seller’s agent does not know in advance that an offer is to be made, the seller’s agent should provide the disclosure statement or disclaimer statement at the time the seller’s agent receives the written offer. The buyer’s agent should make every effort to ensure that the prospective purchaser has the disclosure statement or the disclaimer statement in hand before submission of the offer to purchase the property. Business Occupations and Professions Article, §17-208; Real Property Article, §10-702; Annotated Code of Maryland Effective date: January 17, 1994 (21:1 Md. R. 29) Regulation .01 repealed and new Regulation .01 adopted as an emergency provision effective October 16, 1995 (22:23 Md. R. 1795); adopted permanently effective April 8, 1996 (23:7 Md. R. 551) Regulation .01 amended effective December 28, 2020 (47:26 Md. R. 1107) Regulation .02 adopted as an emergency provision effective January 6, 1994 (21:2 Md. R. 95); emergency status expired July 1, 1994; adopted permanently effective July 18, 1994 (21:14 Md. R. 1228) Regulation .02 amended effective June 1, 2017 (44:8 Md. R. 402) In accordance with the provisions of Business Occupations and Professions Article, §17-530, Annotated Code of Maryland, model Agency Disclosure and Dual Agency Consent forms provided by the Maryland Real Estate Commission shall be used in all applicable real estate property transactions. Business Occupations and Professions Article, §17-530, Annotated Code of Maryland Effective date: Regulation .01 adopted as an emergency provision effective January 1, 1995 (21:25 Md. R. 2092); emergency status extended at 22:12 Md. R. 897 Regulation .01 adopted as an emergency provision effective December 23, 1995 (23:2 Md. R. 92); emergency status expired April 23, 1996; adopted permanently effective May 20, 1996 (23:10 Md. R. 731) Regulation .01 amended effective June 1, 2017 (44:8 Md. R. 402) This chapter is intended to carry out the provisions of Business Regulation Article, §§2-106.3 and 2-106.4, Annotated Code of Maryland, and Business Occupations and Professions Article, Title 17, Annotated Code of Maryland. In particular, it is intended to set various fees in order to cover the actual documented direct and indirect costs of fulfilling the statutory and regulatory duties of the Real Estate Commission. Fees charged by the Commission are as follows: Original license fees: Broker — $211; Associate broker —$143; Salesperson — $98; License renewal fees: Broker —$191; Associate broker — $123; Salesperson — $78; Reactivation of inactive license — $28; Reinstatement fees: Reinstatement of license—$168; CE Late fee—$75; Broker business name change, for broker and each license under broker — $28; Personal name change — $28; Transfer to another broker — $28; Certificate of license history: For 5-year history — $28; For full history — $84. CE Course Approval—$25. Business Occupations and Professions Article, §§17-213, 17-314, 17-315, and 17-403; Business Regulation Article, §§2-106.3 and 2-106.4; Annotated Code of Maryland Effective date: March 1, 2009 (36:4 Md. R. 353) Regulation .02 amended effective January 2, 2017 (43:26 Md. R. 1443); April 29, 2024 (51:8 Md. R. 366); April 28, 2025 (52:8 Md. R. 357) Regulation .02A, B amended effective January 11, 2016 (42:26 Md. R. 1594) Regulation .02D amended effective April 27, 2026 (53:8 Md. R. 355) Regulation .02I adopted effective April 27, 2026 (53:8 Md. R. 355)