MD HB545

Licensed real estate brokers, associate brokers, and salespersons may act as "transaction brokers" who facilitate residential real estate transactions without representing either party in an agency relationship, provided all parties give written informed consent

Applies to sales or leases of properties with 1-4 single-family units and unimproved residential-zoned land, but excludes leases of 125 days or less

Transaction brokers owe limited fiduciary duties to both parties, including honest treatment, timely presentation of offers, disclosure of material facts, and protection of confidential information, but are not required to independently inspect properties or verify parties' statements

The State Real Estate Commission must develop a standard consent form written in clear language with at least 12-point type that explains the broker does not represent either party and that individual representation may be advisable

Effective October 1, 2026; either party may withdraw consent in writing at any time, requiring the transaction broker to withdraw from the arrangement