MD SB384

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

Applies to sales or leases of residential property 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 property or verify party 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's non-representative role and limited duties

Effective October 1, 2026