25 March Maryland Real Estate Commission Meeting – March 18, 2026 by Jacky Mueck MREC Updates 0 0 Comment 59 At its March business meeting, the Maryland Real Estate Commission provided updates on legislative activity, regulatory status, and operational trends, along with guidance on emerging federal reporting requirements. Advertising Checklist Update The Commission reported that the updated Advertising Checklist has been finalized. Due to an IT formatting issue, it is not yet available on the website, but it is expected to be posted once those issues are resolved. Legislative Committee HB 1644, which proposes changes related to property management oversight and potential licensing requirements for individuals engaged in property management activities, was identified for further evaluation by the Legislative Committee. Although the MREC has not taken a position, some of the Commissioners identified concerns with the bill in its current form. A discussion followed as to whether Maryland should require licensure for property managers, as it is an area that remains largely unregulated compared to many surrounding states. This bill was introduced late in the session and, as of the date of the meeting, had not been scheduled for a hearing. The committee is also continuing to develop a legislative proposal that would require fingerprinting and criminal background checks for licensees. Once approved by the Commission, the proposal would be submitted to the Secretary of Labor for approval prior to being introduced in the 2027 legislative session. Regulatory Updates The previously approved regulatory changes related to continuing education fees and the broker supervision course remain pending approval from the Secretary of Labor. Once approved, the final regulations will be published in the Maryland Register and will take effect. The revised Disclosure and Disclaimer form is expected to be published in the Maryland Register on March 20, 2026. Once published, the public comment period will begin, and the Commission will review any feedback before taking final action. Required Forms – Reminder The Commission reminded brokers to ensure that licensees are using the most current version of required disclosure forms, including the brokerage relationship disclosure. Updated versions reflect current Commission contact information and must be used in practice. New Federal Reporting Requirement (FinCEN)* The Commission mentioned the new federal reporting requirement that took effect March 1. This requires title companies to collect and report information on certain residential real estate transactions involving legal entities and non-financed purchases. While the requirement applies to title companies, brokers should be aware that clients may be required to provide additional information at closing. Early communication with clients can help avoid delays at settlement. *This discussion and guidance occurred prior to the March 19th federal court decision which set aside this rule. Click here to learn more from NAR’s Washington Report regarding the Court Decision on FinCEN Residential Real Estate Rule. Meeting Schedule The April Commission meeting has been rescheduled to Wednesday, April 22, 2026. 2026, March, MREC, Updates Share Showing 0 Comment Comments are closed.