Maryland Real Estate Review

Front

Which of the following is NOT a responsibility of a Maryland real estate licensee under the Brokers Act? Presenting all offers to the seller in a timely manner. Fiduciary duty to their client. Completing mandatory continuing education. Advising clients on legal and financial matters.

Back

Advising clients on legal and financial matters.

Front

The Maryland Real Estate Commission is comprised of how many members?

Back

9

Front

Real estate commissions are typically a percentage of the selling price of the property. Who typically receives the commission?

Back

It is split between all agents involved in the transaction.

Front

A listing agreement is a contract between a seller and a: Real estate appraiser, Real estate attorney, Real estate licensee, Mortgage lender.

Back

Real estate licensee.

Front

The Guaranty Fund in Maryland helps protect consumers in real estate transactions by providing compensation for losses due to:

Back

Agent negligence resulting in financial loss.

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Fair Housing laws prohibit discrimination in housing based on several factors, including: Age and marital status, Credit history and income, Veteran status and source of income.

Back

All of the above are not protected classes.

Front

A real estate licensee can represent both the buyer and seller in a transaction ONLY if:

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They disclose this dual agency to both parties and receive written consent.

Front

Real estate reciprocity agreements allow qualified licensees from other states to:

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Automatically transfer their license to Maryland.

Front

When working with a new client, a real estate licensee should obtain a signed:

Back

Disclosure of agency form.

Front

Builders and developers must comply with specific rules established by the State of Maryland. These rules may address: Construction materials only, Building codes and safety standards, Marketing and advertising strategies, Financial planning for the project.

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Building codes and safety standards.