The Maryland Association of REALTORS (MAR) is disseminating the following information:
As reported in the Maryland Association of REALTORS Hot Sheet and the June Maryland REALTOR Magazine, the Maryland Real Estate Commission has adopted a new regulation that will require agents who recommend service providers to verify that the service provider is licensed by the State of Maryland. The new regulation is now final and will take effect August 18, 2014.
Under the rule, if an agent chooses to recommend service providers in conjunction with the real estate transaction, the real estate licensee must:
The licensing status should be verified at least once a year. The rule applies to “service providers, but not limited to, a mortgage lender or mortgage broker, a real estate appraiser, a home inspector, a home improvement contractor, a plumber, an electrician or a heating/ventilation/air condition/cooling (HVAC) contractor.”
Most licensing information can be accessed at http://www.dllr.state.md.us/
Village Settlements, Inc. is proud to be your recommended service provider.