Home Builders - Open House - Sales Representative Disclosure Requirements

HB 850 requires home builders to disclose to prospective buyers that sales representatives work for the builder, not the buyer. Specifically, it mandates that home builders display a clear notice at open houses stating the sales rep’s loyalty is to the builder and buyers have the right to independent representation. The notice must use a 1/2-inch minimum font, be unobstructed, and appear prominently. Additionally, written disclosures in 12-point bold must accompany all buyer materials and the first agreement signed. This directly affects home builders holding open houses and new home buyers in Maryland.