ANSWERS|LATEST !!!!2026|GRADED A+| (EXAM
Real Estate brokerage is govern by: - ANSWER 1. Satutory Law - Brokers Act "Title
17"
2. Administrative Law - Code of Maryland Regulations (COMAR)
Regulation is enacted and enforced by MD Real Estate Commission (MREC)
Brokerage Services: - ANSWER For consideration:
- *Selling, buying, exchanging, or leasing* any real estate or collecting rent
- Assisting to *locate/obtain* for purchase/lease any residential real estate
- Serving as a consultant
Engage regularly in a business of...
- *Dealing/lease/option* in real estate
- *Promoting* the sale of real estate through a listing in a publication
- *Subdivides* land located in any state into lots and then selling those lots
Transfer of Affiliation - ANSWER - *Apply to commission* for transfer from one
broker to another, after obtaining from the new broker a commitment
- Need a *statement confirming termination* from former broker or themselves.
Advisable but not required by law the former broker be informed of the details of the
transfer.
1
,Continuing education sales associate - ANSWER 15 clock hours, a clock hour is 50
minutes of actual instruction on a 60 minute course.
Must renew license every 2 years from date you activate your license, required CEU's:
- 3 Agency
- 3 Ethics, Flipping, Predatory Lending
- 3 Legislative
- 1.5 Fair Housing
- 4.5 Your choice
Total 15 hours
Commission issues three levels of license for individuals and... - ANSWER Broker,
associate broker and salesperson
it issues certificate for branch manager and registers time-share developers.
Commission has subtypes of each level - ANSWER Resident, non-resident, reciprocal
or temporary, for commercial,
Associate Broker and sales person license include from subtypes -
ANSWER Resident, non-resident and reciprocal
Maryland has reciprocal license with - ANSWER Pennsylvania and Oklahoma
General agents - ANSWER Are sales persons and associate brokers
Special Agents - ANSWER Brokers are special agents to their clients
2
,Persons not subject to the Brokers act when performing acts of RE Brokerage title 17 -
ANSWER 17102
- Persons acting under a *judgement or court order*
- *Public officers* performing duties of their office
- *Landlords* or owners of any real estate, unless their primary business is providing real
estate brokerage services
- Persons engaging in a single transaction selling or leasing real estate, or by *power of
attorney *for the owner
- Auctioneers
- Persons acting as receivers, trustees, personal representatives, or guardians
Persons who must conform to the brokers act but are not required to hold brokerage license
- ANSWER - *Financial institutions* for foreclosure
- *Lawyers* who do not regularly engage in the real estate business
- Home builders
- Agents of a licensed real estate broker property manager
- Persons who negotiate the sale, lease or transfer of business when the sale does not
include any interest in real property other than the lease of the property
- Owners who subdivide and sell not more than six lots of their own unimproved property in
one calendar year. If they or their family have owned the property for more than 10 years
there is no limit.
Maryland Realestate commission consists of - ANSWER 9 members,
*5 hold real estate license* chosen from each region
licensed 10 year, reside 5 years.
- Eastern Shore
- Baltimore Metro area
- Baltimore city
3
, - southern Maryland
- western Maryland,
*4 are consumer members* have not been compensated by the commission in the last year
and not a licensed realtor.
Commission board members are appointed - ANSWER the *governor* with the
advice of the Secretary of the DLLR and consent of the Senate.
What are the terms of the board - ANSWER Begin on *June 1st and end 4 years
later*, with reappointment or replacement.
Members may be removed before the end of their term by the Governor in cases of
incompetence or misconduct.
terms are staggered 2 new 1st year, 2 new the 2nd year, 2 new the 3rd year and 3 new the
4th year,
Chairperson of the commission - ANSWER Each year a chairperson is elected from
the board to preside over their meetings. The chairperson is covered by a Surety Bond.
How often does the commission meet? - ANSWER They meet *monthly*, with a
majority of the members (5) then under appointment constituting a quorum.
Meetings are open to the *public*. Public may speak before the commission with *10 days*
written advance notice.
Commission's Executive Director - ANSWER Is appointed by and serves the
*Secretary*, this is a paid position and NOT a member of the Commission. This is a state
employee who is covered by a Surety Bond
4
Real Estate brokerage is govern by: - ANSWER 1. Satutory Law - Brokers Act "Title
17"
2. Administrative Law - Code of Maryland Regulations (COMAR)
Regulation is enacted and enforced by MD Real Estate Commission (MREC)
Brokerage Services: - ANSWER For consideration:
- *Selling, buying, exchanging, or leasing* any real estate or collecting rent
- Assisting to *locate/obtain* for purchase/lease any residential real estate
- Serving as a consultant
Engage regularly in a business of...
- *Dealing/lease/option* in real estate
- *Promoting* the sale of real estate through a listing in a publication
- *Subdivides* land located in any state into lots and then selling those lots
Transfer of Affiliation - ANSWER - *Apply to commission* for transfer from one
broker to another, after obtaining from the new broker a commitment
- Need a *statement confirming termination* from former broker or themselves.
Advisable but not required by law the former broker be informed of the details of the
transfer.
1
,Continuing education sales associate - ANSWER 15 clock hours, a clock hour is 50
minutes of actual instruction on a 60 minute course.
Must renew license every 2 years from date you activate your license, required CEU's:
- 3 Agency
- 3 Ethics, Flipping, Predatory Lending
- 3 Legislative
- 1.5 Fair Housing
- 4.5 Your choice
Total 15 hours
Commission issues three levels of license for individuals and... - ANSWER Broker,
associate broker and salesperson
it issues certificate for branch manager and registers time-share developers.
Commission has subtypes of each level - ANSWER Resident, non-resident, reciprocal
or temporary, for commercial,
Associate Broker and sales person license include from subtypes -
ANSWER Resident, non-resident and reciprocal
Maryland has reciprocal license with - ANSWER Pennsylvania and Oklahoma
General agents - ANSWER Are sales persons and associate brokers
Special Agents - ANSWER Brokers are special agents to their clients
2
,Persons not subject to the Brokers act when performing acts of RE Brokerage title 17 -
ANSWER 17102
- Persons acting under a *judgement or court order*
- *Public officers* performing duties of their office
- *Landlords* or owners of any real estate, unless their primary business is providing real
estate brokerage services
- Persons engaging in a single transaction selling or leasing real estate, or by *power of
attorney *for the owner
- Auctioneers
- Persons acting as receivers, trustees, personal representatives, or guardians
Persons who must conform to the brokers act but are not required to hold brokerage license
- ANSWER - *Financial institutions* for foreclosure
- *Lawyers* who do not regularly engage in the real estate business
- Home builders
- Agents of a licensed real estate broker property manager
- Persons who negotiate the sale, lease or transfer of business when the sale does not
include any interest in real property other than the lease of the property
- Owners who subdivide and sell not more than six lots of their own unimproved property in
one calendar year. If they or their family have owned the property for more than 10 years
there is no limit.
Maryland Realestate commission consists of - ANSWER 9 members,
*5 hold real estate license* chosen from each region
licensed 10 year, reside 5 years.
- Eastern Shore
- Baltimore Metro area
- Baltimore city
3
, - southern Maryland
- western Maryland,
*4 are consumer members* have not been compensated by the commission in the last year
and not a licensed realtor.
Commission board members are appointed - ANSWER the *governor* with the
advice of the Secretary of the DLLR and consent of the Senate.
What are the terms of the board - ANSWER Begin on *June 1st and end 4 years
later*, with reappointment or replacement.
Members may be removed before the end of their term by the Governor in cases of
incompetence or misconduct.
terms are staggered 2 new 1st year, 2 new the 2nd year, 2 new the 3rd year and 3 new the
4th year,
Chairperson of the commission - ANSWER Each year a chairperson is elected from
the board to preside over their meetings. The chairperson is covered by a Surety Bond.
How often does the commission meet? - ANSWER They meet *monthly*, with a
majority of the members (5) then under appointment constituting a quorum.
Meetings are open to the *public*. Public may speak before the commission with *10 days*
written advance notice.
Commission's Executive Director - ANSWER Is appointed by and serves the
*Secretary*, this is a paid position and NOT a member of the Commission. This is a state
employee who is covered by a Surety Bond
4
