Agent Maria is a Maryland licensee who is the listing agent for a home in Annapolis. A prospective buyer visits the property at an open house and asks Maria detailed questions about the seller's motivation to sell. At that point, Maria has not yet provided any written agency disclosure. Under Maryland law, what is Maria's agency status with respect to the buyer at this open house?
Correct Answer
D) Maria remains the seller's agent and owes no fiduciary duty to the buyer
In Maryland, a licensee who is already engaged as a seller's agent does not automatically become a buyer's agent or dual agent simply by speaking with a prospective buyer at an open house. Maria remains the seller's agent and owes fiduciary duties to the seller. She must, however, provide the written Disclosure of Brokerage Relationship form at the first substantive contact with the buyer, and must not disclose the seller's confidential information.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship created by a clear, explicit agreement between the principal and agent, either orally or in writing.
The highest legal obligation of trust and confidence owed by an agent to their principal, requiring the agent to act solely in the principal's best interest.
An agency relationship where the agent agrees to act on behalf of the principal without receiving compensation.
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