Updated December 28, 2022
A Maryland real estate agent listing agreement grants an agent permission to sell a property owner’s real estate in exchange for a commission. The agreement addresses vital details including the listing price, the type of compensation offered to the agent (commonly given as a percentage of the sales price), marketing procedures, and the beginning and expiration dates of the contract. It is in the agent’s best interests to seek an extended agreement period in order to secure the highest possible sales price. This way, the seller yields the most significant return for their property thus providing the agent with a greater commission.
Agency Disclosure Form (§ 17-530) – Upon the first contact between an agent and buyer or seller, the agent must present this disclosure to the individual and have them provide their signature.
Consent for Dual Agency (§ 17-530.1) – Used to show evidence that a seller and buyer have consented to dual agency. Each party must sign the disclosure to legitimize the dual agency relationship.
Property Disclosure Statement (§ 10-702) – The seller of a residential property must complete this property disclosure statement and provide it to buyers. The disclosure is intended to inform buyers of material defects affecting the seller’s property (if any).
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