Real Estate Brokers - Residential Real Estate Transactions - Transaction Brokers

HB 545 creates a new role for real estate professionals in Maryland: "transaction brokers" who facilitate residential home sales or leases without representing either the buyer/seller or landlord/tenant. It allows licensed brokers, associate brokers, or salespersons to act as transaction brokers only when all parties sign a written consent form explaining they won't have traditional agency duties and may want separate representation. The State Real Estate Commission must develop a standard consent form using plain language, clear formatting, and common terms. This applies to single-family homes, small multi-unit properties, and residentially zoned land, but not short-term leases under 125 days.