Realtors in real-estate transactions need the most updated information about how they and their clients and customers are regulated with real-estate.
Customers and clients must understand that Realtors strategic management pland is to restrained them as customers and clients with the goal of protection. Protection only words if structures are created that configure where politicians think the safest real estate ought to occur. Some of the following are legislative housing regulations that limit how Realtors, Customers, Clients make decisions:
HB 412/SB192-Require Seller using the Maryland Disclaimer Form to disclose any known, latent defect affecting their property.
HB 298/SC 253- Disclosure of Military Operations nearby in contracts of real estate
HB 464/SB 256 – LLCs for Agnets – Passed is legislation that give licensees the right to form a limited liability company for purposes of receiving commission for real estate sales.
HB 865 – The legislation ensures that all of the license fees collected are available to the Real Estate Commission not Maryland’s General Fund
SB 181 – Requires real estate licensee to notify Real Estate Commission about a felony conviction and gives the Commission the authority to suspend a license immediately.
HB 626 Maryland Real Estate Brokers Act to impose progressively upward penalties upward from $5,000.00 to $15,000.00 for a second violation or imprisonment up to two years or both; $25,000.00 for a third or subsequent violation or imprisonment up to three years or both.
HB 566/SB 132 – Pre-licensing Courses – Distance Learning 60 clock hours of real estate pre-licensing education to be provided by way of the internet, remote satellite, home study or other delivery methods approved by the Maryland Real Estate Commission.
HB 1107/SB 684 –License Reciprocity Not taking the exam for a non resident licensee of another state if the particular state allows the same condition for non resident licensee of the State of Maryland.
HB 715/SB 384 – Branch Office Manager – testing alternative to the 3 year experience requirement.
HB 715 – Required licenses for Home Builders
HB 1557/SB 1008 Sales Representative Registration and Guarantee Fund require sales agent to register within the consumer Protection Division and the Attorney General Office.
HB 196 – Home Inspectors Licensing that increases the training course from 48 hours to 72 hours and increases liability insurance to be not less than $50,000.00 to $150,000.00.