Dual agency tricky to understand in realty

By Lauren Bunting Contributing Writer

(May 19, 2023) Consumers can get confused when it comes to dual agency in real estate.

The Maryland Real Estate Commission describes dual agency below:

The possibility of dual agency arises when the buyer’s agent and the seller’s agent both work for the same real estate company, and the buyer is interested in property listed by that company.

The real estate broker or the broker’s designee, is called the “dual agent.”

Dual agents do not act exclusively in the interests of either the seller or

Business Briefs

buyer, and therefore cannot give undivided loyalty to either party.

There may be a conflict of interest because the interests of the seller and buyer may be different or adverse.

If both seller and buyer agree to dual agency by signing a Consent For Dual Agency form, the “dual agent” (the broker or the broker’s designee) shall assign one agent to represent the seller (the seller’s “intra-company agent”) and another agent to represent the buyer (the buyer’s “intra-company agent”).

Intra-company agents are required to provide the same services to their clients that agents provide in transactions not involving dual agency, including advising their clients as to price and negotiation strategies.

If either party does not agree to dual agency, the real estate company must withdraw the agency agreement for that particular property with either the buyer or seller, or both.

If the seller’s agreement is terminated, the seller must then either represent him or herself or arrange to be represented by an agent from another real estate broker/company.

If the buyer’s agreement is terminated, the buyer may choose to enter into a written buyer agency agreement with a different broker/company.

Alternatively, the buyer may choose not to be represented by an agent of his or her own but simply to receive assistance from the seller’s agent, from another agent in that company, or from a subagent from another company.

Also, a real estate company needs at least three licensees to participate in dual agency.

The law requires that there be a broker (or branch manager as designated by the broker) to act as the dual agent in the transaction.

The broker or branch manager designated by the broker appoints two licensees in the company to act as intra-company agents.

The intra-company agent representing the seller would represent the seller solely and exclusively while the intra-company agent representing the buyer would represent the buyer solely and exclusively.

A broker who is also the listing agent may not act as the intra-company agent for the seller.

Lauren Bunting is the Broker of Record for Keller Williams Realty of Delmarva in Ocean City.

Hires and promotions

Taylor Bank recently announced the following employee hires and promotions:

Lauren Ruhl has joined the bank as human resources manager. In her role, Ruhl will oversee the execution of the bank’s human resources function. Ruhl brings over 14 years of experience and industry knowledge to Taylor Bank.

Jen Scott, vice president, has been promoted to Banking Product Manager. In this position, Scott will manage the servicing and fulfillment of our retirement and IntraFi Network product solutions. Scott has been a member of the Taylor Bank team since 2013. Previously, she held the position of Branch Manager for Main Office.

Casey Robinson, assistant vice president, has been promoted to regional branch manager. In this position, Robinson will oversee the Ocean

Pines branch and main office. Robinson has been a member of the Taylor Bank team since 1996. Previously, he was branch manager for the Ocean Pines branch and the midOcean City branch.

Lisa Caldwell was promoted to branch operations manager. In this position, Caldwell will oversee operations for multiple branches in partnership with the bank’s regional branch managers. She will also assess and mitigate risk through inspection of the bank’s processes. Caldwell has been a member of the Taylor Bank team since 2016.

Olivia Schorr-Smith has been selected to participate in the Taylor

May 18 - May 26

Bank Management Trainee Program. During the program, Schorr-Smith will submerse into various departments of the bank with specific concentration in our deposit operations department. She will participate in strategic and personal development projects and attend both internal and external training events. Schorr-Smith has been a member of the Taylor Bank team since 2018. Previously, she held the position of loan processor.

Lindsay Foxwell was promoted to senior business services specialist. In this position, Foxwell will collaborate with internal partners to develop new business relationships and service ones via our electronic banking solutions. Foxwell has been a member of the Taylor Bank team since 2019. Previously, she held the position of electronic services representative.

there has been an awful lot of discussion, comments made about the board of education budget and there seems to be a lot of misconceptions about what it is this body has requested of the board,” Bertino said. “I want to make clear yet again that it is not the objective of this body to micromanage the board of education. That is the responsibility of the elected members of [that board].”

Last week, the county commissioners voted 4-2 not to fund the school system’s budget over the amount provided last year, citing transparency concerns. The decision left the board of ed with a roughly $4.5 million deficit and no way to close it.

Bertino said Tuesday that the county still hasn’t received a five-year expense trend, a full-time equivalent trend by position, restricted grants listed with full-time equivalence object and categories, dates of restricted grants and additional breakdown of salaries such as how much is base salary, extra-duty pay, summer school, retirement incentive and payouts.

He also said the county has received limited information on lineitem details of software, technology and capital including vehicles. The same goes for details on restricted grants. The county also wants a list of expenses in Elementary and Secondary School Emergency Relief Fund, or ESSER, grants that are set to be moved to the operating budget when they expire.

“It is our responsibility to see how taxpayer money is being used,” Bertino said. “There is no reason that all of us in elected office, all functions of government, should not be open to the public and the taxpayers to see where that money is being spent.”

At another meeting Tuesday, members of the board of education and county school system staff discussed the commissioners’ decision not to fund their full budget request.

Chief Financial Officer Vince Tolbert said staff members asked the commissioners what they would specifically like to see in the budget after learning in April that the commissioners were not satisfied with what was presented. Tolbert said he and Superintendent Lou Taylor met with county officials to get a grasp on what they may want to see and forwarded the additional information requested.

“It was two-and-a-half times more than what they had before,” Tolbert said of the info.

Taylor contended that he thought they were producing what was asked.

“All we hear is transparency. I get it. But we’ve not been able to get directly, what are you requesting in full transparency?,” Taylor said. “So we took some items, developed some things and we thought we were on target. Until we find out we’re not.”

Tolbert and several other staff members also addressed what they called “misinformation” surrounding claims county officials made about the board of ed’s budget. They pointed out as well that the county not only has a surplus in its budget now, but will also have unallocated casino revenue and more revenue from property reassessments next year.

“The county will have money,” Board of Education President Todd Ferrante said during the discussion. “They can support everything we’ve asked for.”

The Worcester County Board of Elections also made revisions to its budget request with an increased total of $74,504. Changes include an increase in personnel requests and a two-step pay bump with a 2-percent cost-of-living adjustment. The board also asked for $43,580 to increase training costs for judges and a statemandated $100 bonus for returning judges and $12,240 for temporary staff.

New Listing

WATERFRONT in the highly sought after community of Montego Bay!! Fantastic location with southern exposure on 1 of the widest/deepest canals in Ocean City. This 2 bed 1-1/2

A representative with the Army Corps of Engineers assured the Worcester County Commissioners on Tuesday that the Corps was not abandoning the Ocean City inlet, but outlined issues that it faced with making the channel safer for boaters.

PHOTO COURTESY WORCESTER COUNTY COMMISSIONERS

Notice Of Public Hearing

WORCESTER COUNTY WATER AND WASTEWATER ENTERPRISE FUND FY 2024 REQUESTED BUDGETS AND ASSESSMENTS

The Worcester County Commissioners will conduct a public hearing to receive comments on the proposed operating budgets, assessments, user charges and other charges for each of the 11 sanitary service areas operated by the Worcester County Department of Public Works, Water & Wastewater Division:

Tuesday, June 6, 2023 at 10:30 a.m. in the County Commissioners’ Meeting Room Room 1101 Government Center, One West Market Street

Snow Hill, Maryland 21863

Copies of the proposed operating budgets for the 11 sanitary service areas are available for public inspection in the County Commissioners’ Office in Room 1103 of the County Government Center in Snow Hill and online at www.co.worcester.md.us.

The 11 sanitary service areas and proposed changes to the user charges are as follows:

Assateague Pointe – increase from $96 to $106 per Equivalent Dwelling Unit (EDU) per quarter domestic water flat charge; increase from $150 to $163 per EDU per quarter domestic sewer flat charge; and increase from $27 to $30 per lot grinder pump flat surcharge.

Briddletown – increase from $69 to $73 per EDU per quarter domestic water flat fee; increase from $30 to $32 swimming pool flat charge; increase from $65 to $69 irrigation flat charge; no proposed changes for the commercial water.

Edgewater Acres – increase from $183.75 to $196.60 per EDU per quarter domestic water and sewer base fee; Increase from $103 to $110 per EDU per quarter for domestic water flat rate, and increase from $157.40 to $168.40 per EDU per quarter domestic sewer flat charge.

The Landings – increase from $267.50 to $277.50 per EDU per quarter domestic water and sewer base fee; increase from $42 to $44 per EDU per quarter Lewis Road domestic water base fee; no proposed changes in commercial water and sewer base fees, and increase from $257 to $267 per EDU per quarter accessibility fee.

Lighthouse Sound – increase from $230 to $242 per EDU per quarter domestic sewer flat charge; increase from $107 to $114 per EDU per quarter sewer accessibility fee.

Mystic Harbour - increase from $195.80 to $215 per EDU per quarter domestic water and sewer base fee; increase from $193.33 to $212.66 per EDU per quarter domestic sewer flat charge; no proposed changes for commercial water and sewer, increase from $53.20 to $58.50 per EDU per quarter for Sunset Village domestic water flat charge and increase from $48.95 to $53.75 per EDU per quarter for Oyster Harbor domestic water only. There is no longer an Accessibility Fee per EDU for unimproved lots.

Newark - increase from $222 to $230 per EDU per quarter domestic water and sewer base fee; and increase from $274 to $286 per EDU per quarter commercial water and sewer base fee.

Ocean Pines – increase from $187 to $199 per EDU per quarter domestic water and sewer base fee; increase from $170.75 to $179.75 per EDU per quarter domestic sewer flat charge; increase from $146 to $154 per White Horse Park lot per quarter per domestic water and sewer flat charge; increase in commercial water and sewer base fees ranging from $242.89 to $2,022.30 at present to $257.46 to $2,143.60 based on total EDUs.

Riddle Farm - increase from $220 to $240 per EDU per quarter domestic water and sewer base fee; and increase in commercial water and sewer base fees ranging from $249.70 to $2,079 at present to $272.17 to $2,266.11 based on total EDUs.

River Run - increase from $158 to $167 per EDU per quarter domestic sewer flat charge; and increase from $59 to $62 per EDU per quarter domestic water base fee.

West Ocean City - no proposed changes.

In addition to user charges, assessments will be levied in the Mystic Harbour, Newark, Ocean Pines, Riddle Farm and Snug Harbour service areas or sub-areas to make debt payments. All assessments shall be made on an EDU basis.

For additional information, contact the Worcester County Treasurer’s Office at 410-632-9309.