MD & DC Agency Rules

I.Types of Agency

  1. MD
    1. Seller’s Agents – Seller’s Agent, Intra-Company Agent for Seller and Cooperating Agent
    2. Buyer’s Agents – Presumed Buyer’s Agent, Buyer’s Agent, Intra-Company Agent for Buyer
  2. DC
    1. Seller’s Agents – Seller’s Agent, Designated Representative for Seller, Sub-Agent (working with Buyer) and Dual Representative.
    2. Buyer’s Agents – Buyer’s Agent, Designated Representative for Buyer, and Dual Representative

II. Required Disclosures

  1. Timing
    1. MD – first scheduled face to face meeting – GCAAR Form #1003
    2. DC – “prior to providing specific real estate assistance” Form # 1002
  2. Capacity – could change mid stream or after disclosure
  3. Dual Agency
    1. MD
      1. Consent and Affirmation GCAAR Form #1004
      2. Might have multiple forms or list multiple properties
      3. Dual Representation is not an option
    2. DC
      1. Consent for in GCAAR Form #1001
      2. Confirmation of Dual Agency GCAAR Form #1002
      3. Dual Representation (licensee) v. Designated Representation (Broker)
  4. Brokerage Agreements
    1. Disclosures do not create brokerage agreements.
    2. No presumption of Buyer Agency in DC.