Under Maryland law, when must a licensee provide a written Disclosure of Brokerage Relationship form to a prospective buyer at an open house?
Correct Answer
A) At the first substantive contact with the prospective buyer
Maryland law requires licensees to provide the written Disclosure of Brokerage Relationship form at the first substantive contact with a prospective buyer or seller. At an open house, this means the form must be presented when the licensee first engages in a substantive discussion with the visitor about the property or their real estate needs, not necessarily the moment they walk through the door.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A non-agency relationship where the broker facilitates a real estate transaction without representing either party, owing limited duties of honesty, fairness, and competence to both.
The legal principle that holds a broker responsible for the actions of their agents and employees performed within the scope of the agency relationship.
An agency relationship created when a principal's actions or words lead a third party to reasonably believe that an agent has authority, and the principal fails to correct this belief.
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