Maryland 2024 Regular Session

Maryland House Bill HB1239

Introduced
2/8/24  
Refer
2/8/24  
Report Pass
4/4/24  
Engrossed
4/4/24  

Caption

Real Estate Brokers - Brokerage Agreements - Requirements

Impact

If enacted, HB 1239 would amend the existing laws governing real estate brokerage in Maryland. By enforcing specific terms in brokerage agreements, the bill not only strengthens consumer protection but also facilitates a more uniform approach to real estate transactions across the state. This legislation could lead to significant changes in how real estate brokers draft their contracts, possibly reducing disputes between clients and brokers over commission claims and obligations.

Summary

House Bill 1239 seeks to implement new requirements for brokerage agreements between real estate brokers and their clients, whether they are sellers, lessors, buyers, or lessees. The bill aims to enhance clarity and protect the rights of clients by mandating that all brokerage agreements include specific essential provisions. These include clear termination dates, explicit compensation structures, and guidelines on the circumstances under which a broker earns a commission. The introduction of these requirements reflects an effort to standardize practices within the real estate industry, promoting transparency and accountability in client-broker relationships.

Sentiment

The general sentiment around House Bill 1239 appears to be positive, particularly among consumer advocacy groups and individuals who have interacted with the real estate market. Supporters argue that the requirements outlined in the bill will provide necessary safeguards for clients, fostering a better and more trustworthy environment in real estate transactions. However, as with many regulatory changes, there may be some concerns from brokers about the additional administrative burdens that come with compliance, though these concerns have not dominated the conversation.

Contention

Notable points of contention involve the potential resistance from some segments of the real estate industry who may view the new requirements as excessive or unduly burdensome. Critics might argue that these stipulations could restrict flexibility in negotiations and the customization of brokerage agreements. Overall, the debate seems focused on finding a balance between protecting consumer rights and maintaining the fluidity that brokers require in facilitating real estate transactions.

Companion Bills

No companion bills found.

Previously Filed As

MD HB301

Real Estate Brokers - Brokerage Services - Real Estate Wholesaling

MD SB651

Real Estate - Real Estate Brokerage Services and Termination of Residential Real Estate Contracts (The Anthony Moorman Act)

MD HB1235

Real Estate - Real Estate Brokerage Services and Termination of Residential Real Estate Contracts (The Anthony Moorman Act)

MD HB728

Residential Property - Service Agreements - Prohibitions

MD SB579

Residential Property - Service Agreements - Prohibitions

MD HB144

Real Estate Brokers - Inactive Licenses - Requirements After Expiration

MD HB1225

Real Estate Brokers - Disability or Death and Termination of Employment of a Broker

MD SB443

Real Estate Brokers, Salespersons, and Associate Brokers - Continuing Education Courses - Alterations

MD HB662

Real Estate Brokers, Salespersons, and Associate Brokers - Continuing Education Courses - Alterations

MD HB1173

Motor Vehicles - Recreational Vehicle Dealer Agreements

Similar Bills

NJ S3192

"Real Estate Consumer Protection Enhancement Act."

NJ A4454

"Real Estate Consumer Protection Enhancement Act."

VA SB1309

Real estate brokers and salespersons; duties, licensees engaged by buyers.

NJ S4496

Prohibits imposition of costs of certain realtor services on residential tenants.

NJ A5829

Prohibits imposition of costs of certain realtor services on residential tenants.

VA HB1684

Real estate brokers and salespersons; duties, licensees engaged by buyers.

AL HB230

Real estate transactions; required disclosures; description of brokerage services; terms of compensation; required written brokerage agreements under certain circumstances

AL SB154

Real estate transactions; required disclosures; description of brokerage services; terms of compensation; required written brokerage agreements under certain circumstances