Brokerage Relationships and Disclosures (formerly MREC Agency)
This is a mandatory agency course for licensees. The course provides an analysis of agency creation in real estate transactions, different types of agency representations, the agent’s common-law duties, the concept of sub-agency, disclosed dual agency, undisclosed dual agency, remedies for breach of fiduciary duties, obligations to non-principals, the abolition of the caveat emptor law in Maryland, and termination of agency.
The participant’s understanding of the agency relationship in real estate transactions is enhanced by an in-depth consideration of all the relevant regulatory interventions that govern this subject. The course will also discuss the recent development relating to the agency relationship under Maryland law. The course will also discuss the Real Estate Commission license renewal policy which commenced after October 1, 2015.
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