The Graduate REALTOR® Institute Designation
Be the first pick. Stand out from the crowd.
Your clients are more sophisticated than ever, requiring you to perform at a higher level of professionalism. By earning the Graduate, REALTOR® Institute Designation (GRI), you will lead the pack with real-world knowledge about new technologies, laws and marketing techniques that positively affect your bottom line.
Questions? Email:
GRI@MDRealtor.org
One Time Completion
Must complete Series 100 & 200 for a t otal of 72 hours, no renewal required.
Continuing Education
Each six-hour course offers advanced g uidance for the modern REALTOR® and most provide continuing education credits.
Online Classes
Each GRI series is offered virtually twice a y ear through Maryland REALTORS®. Sessions run from 9:00am to 3:45pm.
Cheryl Abrams Davis PRESIDENT
RE/MAX United Real Estate
14340 Old Marlboro Pike
Upper Marlboro, MD 20772
301.702.4200
cherylabrams@remax.net
Melanie Gamble SECRETARY
212 Degrees Realty, LLC 9701 Apollo Dr., # 301 Upper Marlboro, MD 301.343.8538 melanie@melaniegamble.com
Chris Hill
IMMEDIATE FORMER PRESIDENT
Century 21 New Millennium
23063 Three Notch Road
California, MD 20619
301.862.2169
chris@thechrishillteam.com
Denise Lewis PRESIDENT-ELECT
Brook-Owen Real Estate
41 E. Main Street Westminster, MD 21157
410.871.1110
denise@denisehasthekeys.com
Chris Jett TREASURER
Shore 4U Real Estate 23 Fountain Drive W 2nd Ocean City, MD 21842
443.523.2360 chris@shore4u.com
Chuck Kasky, RCE CHIEF EXECUTIVE OFFICER
Maryland REALTORS® 200 Harry S Truman Pkwy. Suite 200 Annapolis, MD 21401
800.638.6425
chuck.kasky@mdrealtor.org
Maryland REALTORS ® 200 Harry S Truman Parkway | Suite 200 Annapolis, MD 21401-7348
443.716.3500 | www.mdrealtor.org
Leadership Team
Chris Hill | President
Cheryl Abrams Davis | President-Elect
Chris Jett | Treasurer
Denise Lewis | Secretary
Yolanda Muckle | Immediate Former President
Chuck Kasky, RCE | Chief Executive Officer Editor
Daniel Patrell | dan.patrell@mdrealtor.org
Advisory Committee
Kristin Skeweris | Chair
Donald Frederick | Vice Chair
Advertising
Arlene Braithwaite | 410.772.0820
Publication Design
Marketing.com, 952 Frederick Street, Hagerstown, MD 21741
800.638.3508 | marketing.com
The opinions expressed by nonstaff contributors may not reflect the official opinion of Maryland REALTORS® and/or policies derived from leadership and staff.
Mission Statement
Maryland REALTORS® exists to support all segments of its membership and their specialties. Maryland REALTORS®, through collective efforts with local boards/associations and the National Association of REALTORS®:
■ Develops and delivers programs, services and related products that maintain and elevate the high standards of the real estate business and the professional conduct of its practitioners;
■ Assists members in ethically and professionally serving the public;
■ Promotes and preserves the right to own, transfer and use real property; and
■ Protects the right of members to conduct business within a framework of fair and reasonable laws and government regulations.
In principle and in practice, Maryland REALTORS® values and seeks diversity and inclusive participation within the field of real estate and recognizes each member as a unique individual.
When We Work Together, Everybody Wins
When you work within a good, collaborative, professional environment, things get done. People know and understand their roles and how they affect change in their spheres. The unique expertise of each individual adds to the success of shared efforts. Everyone involved gains a sense of satisfaction and excitement—at their roles, at the shared success, at the opportunities and possibilities this same collaborative team will face next. This encapsulates perfectly the shared sentiment of your Maryland REALTORS® leadership team. Each year, a new leadership team takes the helm of this association. Some assume new positions, while newly elected members are welcomed to the fold. We then work together to improve the real estate profession in Maryland for its members, consumers, and other stakeholders. We work as a team for our members.
I want to take a moment to thank Chris Hill, now our Immediate Former President, for his leadership through some of our most challenging times. Trying as it was, one only needs to look back at all the things we accomplished to make your professional lives more manageable as the industry adjusts to the “now normal,” given the constant state of flux within our industry. Thank you, Chris, for steering us through these challenges. The successes we’ve enjoyed—new “best practices” to guide REALTORS® in their work, a
renewed focus on the consumer, our advocacy successes—were a result of this collaborative spirit.
As your President, as a REALTOR®, and as an Associate Broker, I want to encourage all members to adopt this same collaborative spirit in your work environment, if you haven’t already. While we’re better equipped than ever to take on the challenges thrown at us, there’s still a lot coming our way. Contracts have changed. Compensation is now front and center. All of us are focusing on how we bring value to our clients’ needs.
REALTORS®, Brokers, Office Managers, and other support staff need to recognize the nature of each unique role within an organization. Working together, the team can then commit to excellence with every showing, offer, and closing.
I encourage you to take this collaborative spirit further. Develop answers to tough questions together. Take everyone’s unique expertise to find solutions and answers before an offer is submitted. Adopt professional practices that bring your work in compliance with state and federal law, as well as our REALTOR® Code of Conduct. Working together, stamp out “loopholes” that could subvert these laws and rules and potentially bring additional and unnecessary harm to this industry. Revisit your business plan. Develop systems and processes collaboratively to ensure agents
While we’re better equipped than ever to take on the challenges thrown at us, there’s still a lot coming our way. Contracts have changed. Compensation is now front and center. All of us are focusing on how we bring value to our clients’ needs.
have the right forms, filled out in a correct manner, to meet compliance standards.
These are just a few suggestions to encourage collaboration amongst your team.
While we don’t know what the future will hold, we can be assured of more change. By working collaboratively as a team now, you’ll be better prepared for however the road ahead twists and turns tomorrow. ■
Cheryl Abrams Davis Is Maryland
REALTORS®’ 2025 President.
MarylandHomeownership.com— Better Than Ever Before!
BY JACKY MUECK
We’ve been hard at work updating our consumer site, MarylandHomeownership.com, to make it the best possible resource for you and your clients.
The website has expanded to include a variety of new pages focusing on first time homebuyer saving accounts, rental assistance, eviction prevention, and more. We’ve also updated and expanded pages defining the value and worth REALTORS® bring to clients and their real estate transactions. To help consumers establish a basis of knowledge to enter the real estate market, we’ve also curated a list of real estate terms and definitions, as well as a list of questions a consumer could ask a REALTOR® in their initial meetings.
There is now a database of blogs covering topics—from credit scores to scams to look out for— to help educate homeowners, buyers, sellers, renters, and anyone else who needs crucial information about homeownership and housing. Consumers can educate themselves to help better plan for their homeownership journeys and to prepare for their next stage of housing, from moving into their first rental to their first purchase. These blogs are also categorized and tagged so visitors can easily find what they’re looking for.
We’ve created video resources on homebuying and selling for consumers to easily and quickly understand the basics of both transactions, preparing them for the way ahead while also demystifying a lot of the steps towards homeownership.
Our Buyer and Seller toolkits have been updated to have current and correct information, including changes made because of recent legal shifts. Consumers can use these toolkits to understand how the real estate world has changed since their last transaction, or as they learn about it for the first time. On the cover is a space to allow REALTORS® to add their logos and contact information, making it a tool that comes personally from you!
Our toolkits are also now available in Spanish! While our website has already been accessible in English and Spanish, our downloadable toolkits are now entirely translated to make these incredible resources an asset to even more consumers. Check with your local board/ association to see if they have print copies available.
Homebuyer Toolkit
We also have up-to-date fair housing information (in English or Spanish), now including statewide active military status) as of October 1, 2024), and other local fair housing regulations.
Visitors to our site can register for our ongoing Your Homebuying Keys webinar every second Tuesday of the month, to learn more about the pathway to homeownership from a knowledgeable REALTOR®, a lender, and experts from Freddie Mac and the Maryland Mortgage Program. Attendees are encouraged to ask questions and engage with knowledgeable speakers and learn more about some of the incredible programs that they could qualify for.
Visitors to MarylandHomeownership.com have the option to learn more by signing up for our quarterly newsletter to stay up to date on
changes in real estate and get more resources in their inbox to help them with their search for their next home.
MarylandHomeownership.com
is an invaluable resource for any Marylander interested in learning more about housing and homeownership, and it can be your invaluable resource when it comes to helping your clients understand the path to homeownership, selling a home, and REALTOR® Value and Worth.
Be sure to share it with your clients, first time buyers and veteran sellers alike! ■
Jacky Mueck is Advocacy and Communications Administrator for Maryland REALTORS®.
Conjunto de herramientas para
How is Maryland REALTORS® Sharing the AWESOMENESS that is MarylandHomeownership.com?
BY DAN PATRELL
We’re glad you asked!
Maryland REALTORS®, at the direction of its Leadership Team, has launched a massive consumer campaign designed to generate awareness of MarylandHomeownership.com, the educational resources available, and REALTOR® Value and Worth. This article reviews what has happened, what is happening, and what you can expect coming from this campaign.
August: Open Letter Newspaper Campaign
Maryland REALTORS started its outreach by placing full-page ads in 29 Maryland newspapers, from Garrett County to the lower Eastern Shore, partnering with every local board and association in the state, for which Maryland REALTORS® is greatly appreciative. Supported by an advocacy grant from the National Association of REALTORS® (NAR), these ads and the digital advertising supporting them were an effort to “set the record straight” about the settlement, given poor reporting in the media, along with unsubstantiated and unreliable advice found easily in social media and the Internet. These ads also discussed the importance of transparency, the benefits of working with a REALTOR®, and the value that
A Win for Homebuyers and Sellers:
Welcome to the Evolution of Residential Real Estate in Maryland
On August 14, the business of residential real estate in Maryland will change. Specifically, potential homebuyers who wish to work with an agent will need to sign a written agreement with an agent prior to work done on the buyer’s behalf. Also, properties for sale listed on databases known as a multiple listing service (MLS) will no longer include an offer of compensation that the seller is offering to buyer’s brokers.
This means that before you begin your home search, you have a valuable opportunity to sit down with your agent and discuss the many services they will provide, ensuring that you have a clear understanding of how they will assist you throughout the process. You’ll also have the chance to determine a fair compensation structure that reflects the value and worth they bring to your real estate journey.
a REALTOR® provides. A portion of the ad that appeared in the Baltimore Sun is pictured above.
Regarding offers of compensation, Maryland REALTORS®, representing more than 28,000 members, and the Greater Baltimore Board of REALTORS® (GBBR), serving Baltimore City, County, and the surrounding area, applaud efforts that contribute to transparency in the real estate transaction, likely the most complex purchase anyone will make in their lifetime. Of the requirement for a written Buyer’s Agreement, this is an “advocacy win” we fought for more than eight years ago: Maryland law has required this since October 2016.
September–November: Unbox Your Next Home Journey
Transparency helps to place today’s homebuyers and sellers in the driver’s seat as it provides clarity in the transaction and defines the roles and responsibilities for all parties involved. Sellers can search for a REALTOR® based on a variety of factors including sales volume, community knowledge, and more. Buyers can also find their ideal REALTOR®, looking at factors important to them: fiduciary skills, inspections expertise, referrals, etc. While both Buyer and Seller will have contractual and financial obligations to their respective agents’ brokerages, commissions remain negotiable. The Buyer and Seller have the power to search for the REALTOR® who best serves their needs.
The next part of this campaign is happening … now! Working with an amazing video crew and professional talent, Maryland REALTORS® created a set of video ads. Using the theme of “unboxing,” a trend easily found in social media, we created ads that unboxed” all the good things consumers can find at MarylandHomeownership.com .
in a variety of ways, which we’ll delve into next. In addition to the videos, we’ve created audio commercials for podcasts and radio, and digital ads. To watch the complete video, follow this QR code.
However you choose to find your REALTOR®, understand the VALUE they bring to your home sale or search. Buying or selling a home can be stressful, difficult, confounding, complex—and your REALTOR®, a professional with specialized training, market knowledge, and unique expertise, can make your path more manageable and—dare we say?— engaging, exciting, and, at the end of the transaction, rewarding. Many REALTORS® have specializations that focus on elements that can be a game-changer: first-time homebuyers, military, diverse marketplaces, specialized properties, etc.
Delivering the Ads
Having a creative ad is one thing. Getting it to the consumers you want to reach is something else. So, how will these ads be delivered?
Home to industry, one of the largest ports in the country, our beloved Baltimore Orioles, and a vibrant arts and cultural vibe, Baltimore City and County and the 1.4 million people who call it home enjoy a quality of life that includes abundant employment opportunity, worldclass healthcare, and access to some of the finest institutions of higher education. Whether it’s a famed Baltimore rowhouse or a waterfront property, single-family or multi-family residence, the more than 4,300 REALTORS® of GBBR—the nation’s first real estate association—helped their clients with more than 16,600 homes in 2023 alone. Each home sale (and every new homeowner) has contributed to the economic strength and vitality of the country; these same REALTORS® who have brought the dream of homeownership to Baltimore City and County are your friends, neighbors, community leaders, and volunteers of the area’s many charitable causes.
While searching for the REALTOR® that best suits you, take time to educate yourself on the details of buying or selling a home. In 2019, Maryland REALTORS® launched MarylandHomeownership.com, an educational resource, free of advertising and sales tactics, which provides actionable information, including downloadable resources and checklists (in English and Spanish), that educates consumers on all facets of buying or selling a home. Doing some homework ahead of one of the biggest decisions in your life always pays dividends.
From the master video we created 10-, 15-, and 30-second videos that would be delivered
Transparency and education are two of the most important factors that can lead to a successful outcome when buying or selling a home. The third factor is working with a REALTOR®. The path toward buying or selling a home is not traveled often. There are bumps, odd turns, hazards that you hadn’t expected. Your REALTOR® will guide you through this process, and once you’ve successfully been handed the keys to your new home (or have sold your current home) you’ll realize that your REALTOR® was WORTH the sound investment. Your journey
1. Open Houses. Maryland REALTORS® has the ability to deliver ads to people entering any open house event in Maryland. The people who go into the open house—potential buyers, REALTORS®, anyone
else—will be delivered ads, using the geolocation capabilities found in most smartphones. Ads will be delivered to smartphones, desktop devices, tablets, and streaming television.
2. Look-Alike Audiences. People who whose activities resemble the activities of homebuyers and sellers will be delivered ads, as well, through all devices and streaming television.
3. Google Search. We will deliver ads to real estate agents, home buyers, and home sellers wherever they travel on the Internet.
4. Total Traffic Weather and News (TTWN). MarylandHomeownership.com will sponsor TTWN broadcasts in the Baltimore and Washington, DC, markets. In Baltimore, it’s audio and video. In Washington, DC, audio only (video was “sold out” at the time of our media order).
5. I Heart Media Podcasts. A 30-second audio commercial will be featured in a variety of podcasts in I Heart Media’s podcast portfolio.
6. Amazon. Video and digital ads will be delivered to people whose purchase habits resemble those of people looking to buy or sell a home.
7. Zillow & Realtor.com. Yes, we’re placing ads here, as well, to Maryland audiences. Why? Because Marylanders visit these sites when looking to buy a home. Let’s reach them where they travel.
8. MarylandHomeownership.com
. Our consumer site enjoys significant traffic. We will deliver ads to visitors to this site, to wherever they travel on the Internet.
November–December: Evaluation
Maryland REALTORS® is tracking every element of this campaign. We want to see what works well, what doesn’t work so well. We want to observe and report on the effectiveness of this campaign: how well it moved consumers to our site, how people are using the site. Information gathered will help with creative, as we launch this campaign, again.
February–March 2025
We will re-launch this campaign again in February-March 2025, ahead of the Spring buying season.
What Can REALTORS® Do
We encourage our members to use this site, letting it be an extension of the services you provide your members. As we all recognize, education is paramount in explaining REALTOR® value. This site provides a library of blogs, video, and other resources that can help your clients become more knowledgeable about buying a home, selling a home, and why a REALTOR® is worth having— essential, even—when it comes to residential real estate. ■
Overcoming Objections in Real Estate: Oil-Heated Homes
Sought-after speaker
Susan Janett guarantees to rev up your team in just 15 minutes with smart solutions to sell more oil-heated listings.
Topics she’ll cover:
What drives heating oil prices?
How to address aboveground and underground tank issues.
The three tell-tale signs an aboveground tank is at risk.
How to get your customers heating equipment rebates.
And so much more!
To schedule Susan to speak in-office or virtually, contact JNoll@OilheatPros.com
Dan Patrell is Strategic Communications Senior Director for Maryland REALTORS®.
New Year, New & Updated Forms
Presenting our October 2024 Statewide Forms: Update on Changes and Practice Tips
BY TAYLOR KITZMILLER, ESQ.
Each fall, Maryland REALTORS® presents updates to its Statewide Forms Library, which contains the form contracts, disclosures, and addenda that members use to service clients and bring real estate transactions to settlement. This article is designed as a guide for Maryland REALTORS® members to understand the revisions to existing forms and the creation of new forms, which went into effect as of October 1, 2024.
As always, brokers and office managers seeking additional support are welcome to contact our Legal Affairs Department attorneys to schedule Statewide Forms Update sessions for their agents. Association attorneys are also available via our Legal Hotline service to answer questions about all of our Statewide Forms.
NEW FORMS
National Priorities List (NPL) Superfund Site Disclosure Addendum
HB 486, passed during this last legislative session, requires sellers of a property located within one mile of a National Priorities List (NPL) Superfund site to include an addendum to the contract that includes information on NPL Superfund sites. Buyers have the right to terminate the contract within 5 days after receiving the addendum. The new National Priorities List (NPL) Superfund Site Disclosure Addendum allows the seller to disclose the existence of a NPL Superfund Site(s) located within one mile of the property and advises the buyer of their right to terminate the Contract of Sale within five days after executing the Addendum.
Practice Tip – Sellers can determine if their property is located within one mile of a NPL Superfund Site by going to https://www.epa.gov/superfund/searchsuperfund-sites-where-you-live#advanced.
REVISED FORMS
Residential Contract of Sale
■ The new NPL Superfund Site Disclosure Addendum has been added to the list of Addenda/ Disclosures in Paragraph 11.
■ HB 11, passed during this last legislative session, requires a contract of sale for property with a private or domestic water supply well to allow the buyer to test the water quality of the well. The buyer may waive their right to have the water quality of the well tested. This information has been added as Paragraph 29. At the bottom of Paragraph 29, the buyer may either initial that the Water Quality Test Addendum is attached to the Contract of Sale or initial that they waive their right to have the well tested.
Water Quality Test Addendum
HB 11, passed during this last legislative session, requires a contract of sale for property with a private or domestic water supply well to allow the buyer to test the water quality of the well. The buyer and seller will use the Water Quality Test Addendum to conduct the water quality test of the well. Previously, the buyer only had to provide the water quality test results to the seller if the buyer was unsatisfied with the test results. However, HB 11 requires both the buyer and seller to be provided with the test results. Thus, the Water Quality Test Addendum has been revised to require the buyer to supply the test results to the seller regardless of whether the buyer is satisfied with the test results.
Release of Deposit Agreement
Senate Bill 651, passed by the Maryland General Assembly in 2023, changed the process for the release of an earnest money deposit when the Buyer terminates the Contract pursuant to a contingency. Under the new law, if a Buyer terminates the Contract pursuant to a contingency as defined by Section 10-803(a)(2) of the Real Property Article, Annotated Code of Maryland, they may provide a written notice to the Seller and the holder of the deposit requesting the full return of the deposit. If the Seller wants to protest the release of the deposit, Seller must provide the holder of the deposit with a notarized, written request for mediation relating to the release of the deposit within ten (10) days of receipt of the Buyer’s request. If the Seller does not protest the release of the deposit or if they fail to provide the holder of the deposit with a notarized, written request for mediation within the ten (10) day period, the holder of the deposit shall distribute the deposit to the Buyer within thirty (30) days of receipt of the Buyer’s request. This explanation of the release of deposit procedure has been added to the Release of Deposit Agreement along with a list of contingencies that trigger the new release of deposit procedure.
Exclusive Right to Sell Residential Brokerage Agreement
■ HB 11, passed during this last legislative session, requires a contract of sale for property with a private or domestic water supply well to allow the buyer to test the water quality of the well. Paragraph 30 has been added to allow the seller to notify the broker if there is a private or domestic water supply well located on the property.
■ HB 486, passed during this last legislative session, requires sellers of a property located within one mile of a National Priorities List (NPL) Superfund site to include an addendum to the contract that includes information on NPL Superfund sites. Paragraph 31 has been added to allow the seller to notify the broker if a NPL Superfund site is located within one mile of the property.
■ The NPL Superfund Site Disclosure Addendum has been added to the list of addenda in Paragraph 35.
Condominium Resale Notice/Condominium
Resale Disclosure Certificate Council Of Unit Owners/ Resale of Condominium Unit Acknowledgment/Condominium Resale Disclosure and Transmittal of Documents
From Seller as Unit Owner
HB 143, passed during this last legislative session, requires a unit owner to provide a statement, no later than 15 days prior to closing, on their knowledge of the presence of asbestos in the unit and whether abatement has been performed during the occupancy of the owner. The condominium documents have been updated with new statutory language that requires the disclosure of any knowledge of asbestos in the unit and whether abatement has been performed during the occupancy of the owner.
VA Financing Addendum
Previously, there was confusion over the buyer’s options when the Certificate of Reasonable Value is less than the amount of the Contract price. We have added language to clarify that the buyer has five (5) days to either: (1) take no action which will result in the Contract becoming null and void at the end of the five (5) day period; (2) notify the Seller that they agree to move forward with the Contract at the Contract Price; or (3) negotiate with the Seller to lower the Contract Price. If the parties agree to lower the Contract Price during the five (5) day period, the Buyer covenants and agrees to be bound to proceed with consummation hereof at the agreed upon Contract Price. If, after negotiations, the Seller refuses to lower the Contract Price, but the Buyer still wants to proceed with the Contract at the Contract Price, the Buyer must notify the Seller in writing of their intention to do so before the five (5) day period expires, or the Contract will become null and void.
General Residential Dwelling Lease Template
■ HB 139, passed during this last legislative session, requires a landlord to provide a copy of the utility bill to the tenant if the tenant pays the landlord directly for the cost of utilities. HB 693, passed during this last legislative session, limits the maximum amount for a security deposit to one month’s rent. We have revised the General Residential Dwelling Lease Template to note that the maximum amount of security deposit can be
one month’s rent and have clarified the landlord’s responsibility to provide the tenant with a copy of the utility bill to the tenant if the tenant pays the landlord directly for the cost of utilities.
■ We have clarified the required amount of notice that a landlord must provide to a tenant prior to the tenant vacating the property at the end of their lease term.
■ We have added the ability to specify a repair deductible amount that a tenant is responsible for paying for damages in excess of ordinary wear and tear.
■ We have added the ability to specify the minimum amount of tenant liability insurance that the tenant must obtain.
Unimproved Land Contract of Sale
■ The Buyer’s Request for Seller’s Compensation of Buyer’s Broker Addendum has been added to the list of addenda in Paragraph 11.
■ HB 11, passed during this last legislative session, requires a contract of sale for property with a private or domestic water supply well to allow the buyer to test the water quality of the well. The buyer may waive their right to have the water quality of the well tested. This information has been added as Paragraph 34. At the bottom of Paragraph 34, the buyer may either initial that the Water Quality Test Addendum is attached to the Contract of Sale or initial that they waive their right to have the well tested. ■
Taylor Kitzmiller, Esq. is Associate Counsel at Maryland REALTORS®.
A Financial Literacy Grand Slam! Maryland
REALTORS® has
taken
Financial Education
to the 9th inning, with the bases loaded.
BY CHRIS HILL
It has been an honor this year to represent Maryland REALTORS as its president. When I took on the role, I looked forward to developing an initiative that would make an impact on our members, our community, and our staff. What could I offer that would leave things a little better than how I found them?
Like so many of you, my passion is real estate and helping people achieve the dream of homeownership. We know that homeownership isn’t just about having a roof over your head, which is huge, of course. It’s so much more. The services we provide can also contribute to the security and wealth of that homeowner for generations. This leads to my second passion: financial literacy. Financial literacy is the gateway to becoming financially independent and lays the foundation to achieve homeownership. I consulted with many of you who felt as I do, that we have a responsibility to help current and future generations understand there is a path for them to one day own a home.
This is a story about how our journey started to create a pathway for educating young adults on homeownership—from recognizing the possibility, to financial readiness, and then how to purchase a home.
The Journey Begins
I believe you are never too young to learn about homeownership and the steps it takes to achieve it. I believe it, our members believe it, and Maryland REALTORS® stands behind it. We began our journey by looking for a partner who was just as passionate about financial literacy and already had an infrastructure or
pipeline directly into the educational field. We found such a partner with the Maryland Council on Economic Education (MCEE). MCEE is an amazing group whose mission is to assure that Maryland’s school children leave high school equipped with the economic and financial knowledge and decision-making skills they will need to make informed, rational decisions as consumers, workers, citizens, savers, investors, and participants in the global economy. MCEE is run by a dedicated team led by its Executive Director, Julie Weaver.
In 2023, U.S. News & World Report ranked Maryland fifth in the nation for “Best High Schools.” The 210 Maryland high schools on the list were ranked based on six factors: College Readiness, College Curriculum Breadth, Graduation Rate, Math and Reading Performance, Math and Reading Proficiency, Underserved Student Performance.
While the financial curriculum mandated by our state is very good, our research with MCEE showed that while there are many classes for financial readiness, budgeting, stock markets, and even credit scores, there was a gap in how those lessons apply to homeownership. This gap is our niche, our opportunity, and it became our focus.
Maryland REALTORS® already has a robust homebuyer and seller education program through MarylandHomeownership.com where visitors are provided resources, guidance, and tools to better help them succeed in their home journey. Our consumer site is dedicated to serving the public with the most up-to-date and accurate information within the housing industry. This site contains everything a potential homeowner needs to know about how to begin the path to homeownership, as well as information on rentals, fair housing, financial wellness, and how to choose a REALTOR®. MarylandHomeownership.com also provides a roster of REALTORS® who have successfully completed advanced educational courses to qualify for our Housing Opportunity Certification. It also contains sections on best practices for selling a home, homeowner assistance and tax information, and finally a section for landlords and tenants. It’s a great tool with so many resources for REALTORS®, including the ability to download the homebuyer and home seller kits (in English or Spanish). You
can even co-brand them with your own logos and contact information. If you haven’t already, I encourage you to follow this QR code to MarylandHomeownership.com
This year, I was also invited to participate in the State of Maryland Comptroller’s Financial Literacy Council. This council is charged with helping to support the development of a robust financial literacy agenda that positions the Comptroller of Maryland as a go-to, state-wide resource. This includes identifying strategies and opportunities to educate disparate communities around financial literacy; developing new financial literacy resources to meet pressing community needs; promoting the agency’s efforts throughout the state; and making the Office of the Comptroller a trusted hub and repository of financial literacy information and data.
So, now we have a partner in MCEE, a website promoting homeownership in every aspect, a seat at the Comptroller’s table, and a staff chomping at the bit to put all of this into an actionable plan.
A Goal Without a Plan Is Just a Wish
Our goal was solid: Support financial literacy education for high school age students with a focus on personal finances and the steps needed to achieve homeownership. The next step was to develop a plan to deliver the appropriate curriculum and support materials into the hands of the appropriate high school teachers and convince that them it would be worthwhile to use it.
No big deal, right? As I write this, I can hear you thinking, “Really? Teachers are already overworked and overwhelmed with the enormous amount of curriculum they must teach. What makes you think they want additional resources on homeownership?” What do you do? Research some more, find out if this is something teachers would be interested in learning and teaching.
I should also let you know at this point, it’s springtime. The time of year when every teacher begins a countdown to the last day of school. How do you capture the time and interest of teachers at that point in the year? We relied on the wisdom of our partners at MCEE who told us that we should hold an event in the summer, but
it had to be something that would totally rock. And so, we did.
Take Me Out to the Ballgame
We have a little park in Maryland called Camden Yards, home to our amazing Baltimore Orioles. We decided that our big gesture—our THANK YOU for everything they do—would be to take to high school financial teachers out to an Oriole’s game. We found the perfect game late July with the Orioles playing the Toronto Blue Jays for a Wednesday afternoon game. We booked the Designated Hitter classroom in The Warehouse, reserved the Brooks Robinson Suite for the game, and started to build out a program for the day.
Build It and They Will Come
As I noted before, Maryland REALTORS® has a very robust program for future and current homeowners. We also are privileged to have an experienced and knowledgeable group of instructors dedicated to advancing the education of our members. Two of those instructors—Mary Chieppa, Real Estate Instructor and Associate Broker, and Bridget McGee, Senior Loan Officer with SWBC Mortgage—partnered and developed a presentation for teachers that was engaging, educational, and entertaining. Their presentation talked about best practices of how to find a house, how to buy a house, how to finance, how to save, and so much more from beginning to end.
And finally, we really wanted to bring everything home with a video element. We decide to show first-hand that you don’t need to be 35 years-old to buy your first home, which is the current statistic from NAR’s 2023 Profile of Home Buyers and Sellers We put out a call for young first-time homebuyers, and they were very gracious to join us and allow us to record the story of their path to homeownership. All of them are in their 20s, and each took a different path to purchase their first home. We showcased Jacky, who purchased the home she was renting with friends and became their landlord. Another young entrepreneur, George, who also happens to be a REALTOR®, purchased his first home at 22 years old and was able to do so by purchasing a duplex and living in one side while renting the other. George
This event brought to you by the outstanding energy of: Mary Chieppa, Professional Developent and Member Engagement Director Susan Yashinskie, Bridget McGee, and MCEE Executive Director Julie Weaver.
The Maryland REALTORS® team standing behind Financial Literacy include, back row: Sandi Frazer, CEO Chuck Kasky, 2024 President Chris Hill, Dyana Quinzi, Kelli Beard, and Lisa May. Front row: Susan Yashinskie, April Sheesley, and Angel Brandt.
Even amidst the fun of the ballgame, Bridget McGee provided invaluable instruction.
took the additional step of creating an online tutorial showing how he saved, researched, and finally purchased the home. It’s a wonderful video and these young people prove you are never too young to start your path to homeownership. Want to see this video yourself?
Follow the QR Code!
The second video we developed in collaboration with Maryland REALTORS®’ Housing Opportunity Committee (HOC). It’s “The Steps to Homeownership” with its own jingle, as the animation walks viewers through the steps to become a homeowner. The purpose of this video was to showcase these steps to entice viewers to dig a little deeper into each step, which someone can easily do by reviewing the resources at MarylandHomeownership.com . The Housing Opportunity Certification (HOC) Committee is responsible for our consumer site. You can find this video at MarylandHomeownership.com
Having developed the program and support materials, we were ready to engage the teachers.
It’s the 9th Inning
Partnering with MCEE provided us with the ability to reach Maryland teachers specializing in math, finance, and entrepreneurship. We filled the 50 available teacher spots in two weeks with education professionals from all corners of the state. Chuck Kasky, Maryland REALTORS® CEO, threw out the first pitch (figuratively, of course) and wound up our team of teachers. Our instructors, Bridget and Mary, did an amazing job with so much participation from the audience, they were not even able to finish the program. Amazing instructors, they spent the entire game talking to the teachers individually, following up all their questions. We are scheduling several online sessions with teachers to address additional questions, while also providing a platform for those who were not able to join us on game day to learn more about homeownership.
And Holiday Hits a Grand Slam!
This actually happened! Jackson Holiday of the Orioles hit his first major league home run, a grand slam! How appropriate, as this was our first major outreach to teachers, which was also a grand slam!
Our follow-up survey with MCEE and the teachers was extraordinary. Moving forward on this initiative, here are a few action items:
1. Continue our outreach efforts, providing both inperson and virtual opportunities.
2. Work with the teachers to develop an approved list of speakers from our REALTOR® community, to talk to their classes about homebuying and loans. (we’ve also had requests for REALTORS® to discuss their profession and career path.
3. Develop this same type of opportunity to learn about homebuying and selling for first responders.
We couldn’t have written this wish list better ourselves! If any teachers or first responders are reading this, visit MarylandHomeownership.com, attend one of its monthly “Homebuying Keys” webinars, and keep an eye on your email because we promise we are not done!
The Final Score
We started this journey hoping to make a difference in financial literacy and help teachers engage students in financial literacy and homeownership, but we found the teachers were just as excited to learn about homeownership for themselves—and they want us to do more. It has been a privilege to be part of this exciting new chapter, educating future generations on becoming a homeowner.
Thank you to all the teachers from around the state who joined us in this adventure. Thank you to my fellow Maryland REALTORS® for allowing me the opportunity to lead our association. And thank you to the staff at Maryland REALTORS® for making this dream become a reality. ■
Chris Hill Is Maryland REALTORS®’ Immediate Former President.
Let’s Make a Deal
BY LISA MAY
When we think about advocacy, we tend to view our efforts in the black-and-white terms of wins and losses. Wins occur when good bills pass, and bad ones fail.
When a bill that is less favorable to real estate passes, it’s tempting to put that in the “losses’ category. Yet there’s a lot of hard work and hard-won victories in shaping bad legislation to make it practicable or to secure concessions in other areas.
What do we mean by that? One example that will resonate with members in our commutable suburbs is the issue of traffic congestion. When I first joined the REALTOR® family in the D.C. area, the number one factor buyers noted in their home
searches was their commute. As a result, finding transportation funding was a key plank of our advocacy efforts.
When the legislature put together the most meaningful transportation bill in a generation, it included increases in real estate transaction taxes as a funding source, leaving REALTORS® with difficult choices to make. Two important industry priorities—transportation improvements and keeping housing costs low—were in direct conflict with one another. Despite all advocacy efforts, there was no getting around the fact that REALTORS® would have to sacrifice one to get the other.
These types of trade-offs are common in REALTOR® advocacy.
We cover a range of issues that impact not just our members, but also your clients, and all homeowners in general.
As the Renter’s Rights and Stabilization Act (HB 693) takes effect this month, you might feel that this was a legislative loss for the industry. After all, it included provisions that REALTORS® had typically opposed at the State House. If we were to do that, however, we wouldn’t get the full picture of the tradeoffs, concessions, and larger victories that occurred along the way.
First, it comes as no surprise that Maryland REALTORS®’ top priority in recent years has been increasing housing supply. Given the reluctance to enact changes
...there’s a lot of hard work and hardwon victories in shaping bad legislation to make it practicable or to secure concessions in other areas.
at the local level, REALTORS® welcomed state-level efforts to address our state’s housing shortage, which has reached crisis proportions.
While it is tempting to think of HB 693 in isolation, it was just one part of a broader housing package which also included HB
538, The Housing Expansion and Affordability Act, and HB 599, The Housing and Community Development Financing Act. Those bills will streamline housing approvals, provide a broader range of housing types like Middle Housing, and bolster funding to make housing more affordable.
Like the transportation example above, two key REALTOR® priorities were placed in opposition to each other. Some corners of our membership may have felt that the tradeoff between HB 693 and the other housing bills was worth making right off the bat. Yet we continued to work to make the rental provisions better than what was introduced, and won key concessions on the following:
■ State Agencies: As introduced, the Department of Housing and Community Development (DHCD) would create an Office of Tenant’s Rights. As passed, DHCD will create an Office of Landlord and Tenant Affairs.
■ Eviction Filing Fees: As introduced, the filing fees were set at $93. As passed, the fee increase is limited to $43.
■ Eviction Fee Recovery: As introduced, eviction filing fees would not have been recoverable under any circumstance. As passed, a landlord can recover eviction fees from the tenant’s security deposit if the court grants a judgement of possession in the landlord’s favor.
■ Right of First Refusal Timing: As introduced, all tenants would exercise their rights of
first refusal after the property was listed for sale and an offer from a third party was received, meaning all offers received would be put on hold and contingent upon the tenant refusing the right to purchase. As passed, the landlord has the option to use the Right of First Offer process to address a potential tenant purchase before the property is listed for sale, removing the need for contingent offers or waiting periods from third party buyers.
■ Offers to Purchase: As introduced, the landlord would have made the offer to purchase to the tenant, upending the standard contract offer and acceptance process. As passed, the tenant must develop their offer to the landlord once notified of the landlord’s terms to purchase.
The Renter’s Rights Act still represents a change for our industry, not all of which is positive for our property management practitioners. When taken with the other components of the 2024 Housing Package, we hope that some of the sting of those provisions is lessened, and you see that good advocacy work can result even from “bad” bills. ■
May is the Director of Advocacy and Public Policy for Maryland REALTORS®.
Lisa
We Did It
BY CHUCK KASKY
I’m guessing some readers may not have the same reaction as me, but here we are: August 14th came and went, the sun rose, the day passed, the world did not end. This is not meant to minimize the effect the business changes have had on our profession, only to keep things in perspective. In the end, the changes did not change the foundational elements of our business. We still take listings and help buyers find their dream home. Buyers’ agents are still able to negotiate compensation with the listing broker and seller. Yes, the conversations with clients have changed, and how we communicate with each other about compensation has changed. But the basic elements of success have not changed.
Hopefully, by now everyone is comfortable with the new forms used to facilitate the negotiations about compensation, and I want to thank everyone who had a hand in developing them. You know who you are. Also, if you have suggestions on how to improve the forms, please let us know. It’s always been clear to us that this will be an iterative process. As we learn and adapt to this new reality, we will always look to do better, and you can help. Consumers and the market will ultimately dictate how transactions are conducted. We pledge to keep our eyes open, be nimble and adaptable.
Be careful! The amount of bad information and uniformed prognostication out there is staggering. I’ve spent some time rereading articles and watching videos ... and virtually every one of them is wrong, often very wrong.
And, as always, Maryland REALTORS® will continue to be your source for up-to-date and accurate information, training, guidance, and support. Which leads me to my next point. Be careful! The amount of bad information and uniformed prognostication out there is staggering. I’ve spent some time rereading articles and watching videos that came out over the past several months, and virtually every one of them is wrong, often very wrong. Often, the authors/“stars” of these articles and videos are supposed to be “experts” in this field, yet they misstated the specifics of the settlement and made wild predictions that have or will turn out to be way off base.
And, unfortunately, some of our own members are engaging in risky and potentially illegal conduct. I have seen literally dozens of examples of this. The temptation is too often to hear what we say, internalize it, then look to see how to work around it instead of dealing with it head on.
We know enough now to provide our members with best practices. We also understand that this is not over. There are literally dozens of other lawsuits still to be resolved. The Plaintiff’s attorney in the settled case recently filed an amended complaint in the Gibson lawsuit to include Berkshire Hathaway Energy. Billionaire investor Warren Buffett’s Berkshire Hathaway owns 92 percent of the unit, which in turn controls the brokerage HomeServices of America, and is joining Compass, Douglas Elliman and Redfin among the defendants in the action seeking over $200 billion in damages. That’s right—billion with a “b.”
The Department of Justice (DOJ) is not a fan of the settlement, believing it did not go far enough. Let’s be clear, the DOJ has been explicit and consistent about its end game. They envision a marketplace where sellers hire their brokers and pay them, and buyers hire their brokers and pay them. Full stop. If they get their way, neither the seller nor the listing broker will be able to offer
compensation of any kind to the buyer’s broker. The more we seek to undermine even the changes we’re dealing with today, the more likely we will confront even more disruption in the future. So, please, work within the confines
of the settlement as it is. Follow the antitrust guidelines with which we are all familiar and help us help you. ■
Chuck Kasky is CEO of Maryland REALTORS®.
Help Your Clients Turn Over a “New Leaf” this Autumn!
BY GREGORY HARE
As fall approaches and the housing market is ever changing, there’s no better time to help potential homebuyers turn over a new leaf with the Maryland Mortgage Program (MMP). For over 40 years, MMP has been a cornerstone of Maryland’s homeownership initiatives, consistently supporting thousands of Marylanders each year in achieving their dream of homeownership. With the fall housing market picking up, now is the perfect time to leverage MMP’s products to increase your sales and help more families settle into their new homes before the holiday season.
You can improve your clients lives with the Maryland Mortgage Program, but don’t take our word for it:
“MMP was quick, concise and it allowed me to get home much faster than I thought I could.”
– Rhonda Wanzer, Maryland Mortgage Program Recipient “...without the Maryland Mortgage Program, I wouldn’t have been able to get into a home.”
– Terry Taylor, Maryland Mortgage Program Recipient
Read more real stories at MMP. MARYLAND.GOV, and soon you will be writing a testimonial of your own!
Below are some of the most advantageous MMP partnership products:
■ 1st Time Advantage 5% DPA Loan: This product comes with down payment and closing cost assistance equal to 5% of the first mortgage while still maintaining a competitive interest rate on the first mortgage. Borrowers must be first-time homebuyers.
■ HomeStart: This product is for borrowers with income at or below 50% Area Median Income (AMI). It comes with a 0% interest, 30 year deferred down payment loan equal to 6% of the first mortgage.
■ Flex 3% DPA Loan: This product comes with a loan equal to 3% of the first mortgage. Can be a repeat or first-time homebuyer. ■
Gregory Hare is the Assistant Secretary, Maryland Department of Housing and Community Development. mmp.maryland.gov, singlefamilyhousing. dhcd@maryland.gov, 1-800-756-0119
Heading to BWI? Maryland’s REALTORS® Get Exclusive Discounts!
BY BY TAMMY MOY, FASTPARK
For decades, Fast Park has built its name and reputation on finding innovative ways to make airport parking as effortless as possible. Fast Park is a third-generation family business committed to our customers, our employees and our communities.
Customer service is at the heart of our business and drives all decision making. It goes much deeper than a mission statement or selling tactic—it is embedded in our culture and serves as a true measure of our success.
As an Affinity Partner of Maryland REALTORS®, Fast Park offers great rates for members by registering in Fast Park’s Free Reward’s Program for airport parking! Benefits include:
■ Earn free parking days after 8 paid days
■ Make reservations for free and guarantee your parking
■ Handicap parking available (if needed, we can drive handicapped customers to and from the airport in their vehicle if they are not able to use our shuttle)
■ Emergency vehicle services at no additional charge
■ EV Chargers available at no additional fee
■ Shuttles to the airport run 24/7 with pick up and drop off at your vehicle
■ Least expensive daily COVERED parking at most airports
■ Corporate rate extended
■ Express exit lanes
■ Available for business or personal travel
Members can log into their account and add receipts, so they get credit toward their free days. Also, they can reprint their receipts for expensing up to one year. Please bookmark this on your phone or take a picture of it and save on your phone. Each time you enter and exit our facility, you will scan this, so you receive your benefits.
Scan the QR Code. Use Promo Code B39883 and your Maryland REALTORS email address.
Need assistance? Contact our Fast Park Regional Marketing Manager, Tammy Moy, at tmoy@thefastpark.com or 407-619-3301. Fast Park looks forward to your visit! ■
One-Month Max: Maryland’s New Security Deposit Law
BY TAYLOR KITZMILLER, ESQ.
Q:Can you clarify the meaning of the Maximum Security Deposit from the Renters’ Rights and Stabilization act of 2024?
A: The Renters’ Rights and Stabilization Act of 2024 brings significant changes to landlordtenant laws, including a notable reduction in the maximum security deposit a landlord can require from a tenant. Previously, Maryland law permitted landlords to demand a security deposit of up to two months’ rent. The new law, however, lowers this cap to just one month’s rent. Specifically, Section 8-203 of the Real Property Article, Annotated Code of Maryland now states:
“(b) (1) Except as provided in paragraph (2) of this subsection, A landlord may not impose a security deposit in excess of the equivalent of 1 month’s rent per dwelling unit, regardless of the number of tenants.
(2) A landlord may impose a security deposit in an amount equivalent to up to 2 months’ rent if:
(i) the tenant is eligible and has qualified for utility assistance through the department of human services;
(ii) the lease agreement requires that the tenant make payments for utility services directly to the landlord; and
(iii) the tenant and landlord agree in writing to the amount of the security deposit.”
Understanding this new one month’s rent restriction is important but so is understanding what is considered a “security deposit”. Maryland law defines a security deposit as “any payment of money, including payment of the last month’s rent in advance of the time it is due, given to a landlord by a tenant in order to protect the landlord against nonpayment of rent, damage due to breach of lease, or damage to the leased premises, common areas, major appliances, and furnishings.” In short, a security deposit is an amount of money that the landlord can use to protect themselves from damages caused by the tenant. There is a common misconception that charges such as a “pet deposit” are different than a security deposit. The landlord charges a “pet deposit” to protect themselves from possible damages to the property that are caused by the pet. This mirrors the definition of a security deposit, thus, a “pet deposit” is considered a security deposit. Therefore, after October 1, 2024, a landlord will violate the new security deposit law if
they charge the tenant a security deposit equivalent to one month’s rent plus an additional “pet deposit.”
On a separate note, the Renters’ Rights and Stabilization Act of 2024 does not require landlords to retroactively adjust security deposits for leases that were established before the law took effect. Similarly, lease renewals or extensions done by an addendum to the original lease that is either about to expire or has already converted to a month-to-month lease are considered an extension or modification of the existing lease. Therefore, a new lease is not created meaning the landlord does not have to return any portion of the security deposit that is greater than one month’s rent. However, the one-month security deposit restriction will apply to new leases created after October 1, 2024, or renewals done by a completely new lease agreement. ■
Taylor Kitzmiller, Esq. is Associate Counsel at Maryland REALTORS®.
1ST TIME ADVANTAGE DIRECT No
