You represent a buyer of a $1 million property.

Under Maryland law, agency relationships are determined by who the licensee represents, not by who pays the compensation.

Even though the buyer’s agent may receive payment from the listing broker via a cooperative compensation (often shared through the MLS), that payment does not make the buyer’s agent an agent of the seller.

The licensee’s fiduciary duties—loyalty, confidentiality, disclosure, obedience, reasonable care, and accounting—belong solely to the buyer, the client under the brokerage agreement.

This principle is detailed under the Maryland Agency Law section of the pre-licensing course.

Reference (Maryland Source):

– Maryland 60-Hour Principles and Practices Course, Law of Agency module.

– Business Occupations and Professions Article §17-530 through §17-534.

– COMAR 09.11.07.01 – Disclosure of Agency Relationships.