(a) Except as otherwise provided in subsection (b) of this section, in a real estate transaction involving a single-family dwelling, a real estate broker, an associate real estate broker, a real estate salesperson, or a lawyer acting as a real estate broker may not require a buyer, as a condition of settlement, to employ a particular: (1) title insurance company; (2) settlement company; (3) escrow company; (4) mortgage lender, or financial institution as defined in the Financial Institutions Article; or (5) title lawyer. (b) A seller may not be prohibited from offering owner financing as a condition of settlement.
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