Real Property - New Home Sales - Entry of Final Sale Price in Multiple Listing Service
Summary
SB 811 requires that, within 30 days after the sale of a new home in Maryland, the developer, builder, broker, or real estate agent involved in the transaction must enter the final sale price into a multiple listing service (MLS) or another similarly accessible database. The bill defines “multiple listing service” as a database used by real estate professionals to facilitate property sales, including for market evaluations and appraisals.
The measure adds a new section to the Real Property Article and applies specifically to new home sales. It does not change the underlying rules for how homes are sold, but it creates a new reporting obligation tied to the post-sale recording of price information. The act takes effect October 1, 2026.
Impact
SB 811 amends the Maryland Real Property Article by adding Section 10-804, creating a statutory duty for developers, builders, brokers, and real estate agents to report the final sale price of new homes to an MLS or comparable database within 30 days of closing. This affects participants in new-home transactions and improves the availability of price data used by real estate professionals, appraisers, and market analysts. The bill’s practical effect is to increase transparency in new-home pricing and make sale-price information more accessible in the real estate market.
Sentiment
The bill appears to have broad legislative support. It received favorable committee treatment in the Senate and passed both chambers by substantial margins, including 38-4 in the Senate and 96-31 in the House after amendments. The voting pattern suggests general agreement with the bill’s transparency goals, though the House vote indicates some reservations remained.
Contention
The main point of contention is likely the added compliance burden on developers, builders, brokers, and real estate agents, who must ensure timely entry of final sale prices into an MLS or similar database. Opponents or skeptics may also have concerns about the scope of the reporting requirement, the use of sale-price data, or whether the mandate could affect business practices in new-home sales. Supporters, by contrast, appear to favor the bill for improving market transparency and data availability for appraisals and evaluations.