Agency
In Maryland, the agency relationship between a licensee and client must be disclosed:
AOnly at settlement
BBefore or at the time of the first showing✓ Correct
CWithin 24 hours of entering any agreement
DAt the time of making an offer
Explanation
Maryland law requires agency disclosure before or at the time of the first substantive contact or showing of property.
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Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
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