(a) Except as otherwise provided in subsection (b) of this section, a licensed real estate broker, licensed associate real estate broker, or licensed real estate salesperson may not act as a dual agent in this State. (b) (1) (i) If a licensed real estate broker obtains the written informed consent of all parties to a real estate transaction, the real estate broker, or a branch office manager described in § 17-518(d) of this subtitle who has been designated by the licensed real estate broker, may act as a dual agent for both the seller and the buyer or the lessor and the lessee in the same real estate transaction. (ii) The dual agent in a real estate transaction shall assign a licensed associate real estate broker or licensed real estate salesperson affiliated with the real estate broker to act as the intra-company agent on behalf of the seller or lessor and another licensed associate real estate broker or licensed real estate salesperson affiliated with the real estate broker to act as the intra-company agent on behalf of the buyer or lessee. (iii) 1. Except as otherwise required by this title and except to the dual agent, an intra-company agent may not disclose confidential information. 2. Except as otherwise required by this title, the dual agent may not disclose confidential information to the buyer or seller or the buyer's or seller's intra-company agent in the same real estate transaction. (iv) If a real estate broker offers any financial bonuses to licensees affiliated with the broker for the sale or lease of real property listed with the real estate broker, the real estate broker shall provide to each party to a real estate transaction a statement that discloses that financial bonuses are offered. (v) An intra-company agent representing the seller or buyer shall provide the same services to the client as an agent for the seller or buyer would provide in a real estate transaction that does not involve dual agency, including advising the client as to price and negotiation strategy, provided that the intra- company agent has made the appropriate disclosures to the client and the client has consented, as required by this section, to dual agency representation. (vi) The provisions of the services specified in this subsection may not be construed to be a breach of duty of the licensee, provided that the licensee has complied with the duties specified in § 17-522 of this subtitle. (vii) 1. A dual agent may not also act as an intra-company agent in the same real estate transaction. 2. An intra-company agent may not also act as a dual agent in the same real estate transaction. (2) The written consent for dual agency shall include an affirmation that identifies the property and the buyer when the real estate broker or branch office manager is serving as a dual agent and the buyer and seller or lessee and lessor enter into a written contract for sale or for a lease, respectively. (c) The written consent for dual agency shall include a statement that: (1) the real estate broker receives compensation on the sale of a property listed only by the broker; (2) as a dual agent the real estate broker represents both the seller and the buyer and there may be a conflict of interest because the interests of the seller and the buyer may be different or adverse; (3) as a dual agent the real estate broker does not owe undivided loyalty to either the seller or the buyer; (4) except as otherwise required by this title, a dual agent may not disclose confidential information to the buyer or seller in the same real estate transaction; (5) unless authorized by the seller, neither an intra-company agent nor a dual agent may tell a buyer that the seller will accept a price lower than the listing price or accept terms other than those contained in the listing agreement or suggest that the seller accept a lower price in the presence of the buyer; (6) unless authorized by the buyer, neither an intra-company agent nor a dual agent may tell a seller that the buyer is willing to pay a price higher than the price the buyer offered or accept terms other than those contained in the offer of the buyer or suggest that the buyer pay a higher price in the presence of the seller; (7) a dual agent may not disclose the motivation of a buyer or seller or the need or urgency of a seller to sell or a buyer to buy; (8) except as otherwise required by this title, if the information is confidential, a dual agent may not disclose any facts that lead the seller to sell; (9) the buyer or seller does not have to consent to the dual agency; (10) the buyer or seller has voluntarily consented to the dual agency; and (11) the terms of the dual agency are understood by the buyer or seller. (d) (1) A cause of action may not arise against a licensee for disclosure of the dual agency relationship as provided by this section. (2) A dual agent does not terminate any brokerage relationship by making any required disclosure of dual agency. (e) (1) In any residential real estate transaction, a licensed real estate broker may withdraw from representing a client who refuses to consent to a disclosed dual agency and to terminate the brokerage relationship with the client. (2) The withdrawal may not prejudice the ability of the licensed real estate broker to continue to represent the other client in the transaction, nor to limit the licensed real estate broker from representing the client who refused the dual agency in other transactions not involving dual agency.
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