Agency (alternative)
A Maryland real estate agent who acts as a principal (buying or selling for themselves) rather than as an agent must still:
AAct through a supervising broker only
BDisclose their licensed status to the other party in the transaction✓ Correct
CPay a higher commission rate to the other broker
DObtain MREC approval for the transaction
Explanation
Any Maryland licensee buying or selling property must disclose their licensed status to the other party — this is required by law and ethical standards regardless of their role.
Related Maryland Agency (alternative) Questions
- A Maryland listing agent who advertises on social media must include which information per MREC guidelines?
- Under Maryland's agency framework, a 'gratuitous agent' is an agent who:
- A Maryland listing agent who learns the seller's minimum acceptable price must:
- When a Maryland real estate agent retires from practice, their duty of confidentiality to former clients:
- In Maryland, an open listing allows the seller to:
- Under Maryland law, an agent's fiduciary duty of 'care' requires the agent to:
- In Maryland, which of the following could create an implied dual agency?
- Under Maryland's dual agency rules, a dual agent must obtain informed consent from:
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