Maryland law states: The written consent for dual agency shall include an affirmation that identifies the property and the buyer when the real estate broker or branch office manager is serving as a dual agent and the buyer and seller or lessee and lessor enter into a written contract for sale or for a lease, respectively. A broker has made the decision to terminate the employment of an affiliate broker. What professional disclosure does is required in this case? When the affiliate's actions are brought to the attention of the TREC, what will be the impact on the broker? ) Does the Broker's Act require real estate licensees to list their license category in all advertising that involves the sale, rent, or offer to purchase real property? The only condition required under the law regarding ministerial acts is that the written agreement between the licensee and the licensees client (i.e., the listing agreement or buyer agency agreement) must contain a statement by the client authorizing the licensee to provide these ministerial acts on behalf of a non-client. We recommend that you show your proposed advertising to a neighbor or someone unfamiliar with the real estate industry. You may access the document at:http://www.mdrealtor.org/Portals/0/adam/Content/zQqLmRTjx0O627gO98GNJQ/Link/FINAL-Brokerage-Chart-Web.pdf. A dual agency shall not be construed to exist in a circumstance in which the licensee is working with both landlord and tenant as to a lease which does not exceed a term of three years and the licensee is the landlord. For this analysis, we assume both buyer and seller have executed written brokerage agreements and signed the Consent for Dual Agency form published by the Maryland Real Estate Commission. It then must be deposited into a trust or escrow account. (4) Disclose financial qualification of the buyer or tenant to the seller or landlord. This is good business practice. Additionally, both Maryland law and the National Association of REALTORS (NAR) Code of Ethics prohibit licensees and REALTORS from advertising in a misleading or untruthful manner. Which of the following actions are not acceptable in the performance of ministerial acts? Address: 200 Harry S. Truman Pkwy. In most cases, an individual's medical records or detailed information about the nature of a person's disability is not necessary for this inquiry. Which of the following is FALSE? Under Tennessee law, which of the following needs to be a licensed real estate broker or affiliate broker?
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