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SB 811

Real Property - New Home Sales - Entry of Final Sale Price in Multiple Listing Service

2026 Regular Session Introduced by Antonio Hayes

Requires final sale price of new homes to be posted in MLS within 30 days of sale to improve price transparency.

Third Reading Passed with Amendments
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Bill Summary · SB 811

Summary of Maryland Senate Bill 811 (2026 Session)

Title: Real Property – New Home Sales – Entry of Final Sale Price in Multiple Listing Service

Jurisdiction: Maryland

Sponsor: Senator Antonio Hayes

Committee: Judicial Proceedings (with cross-file to Economic Matters)

Effective Date: October 1, 2026

Status: Passed several readings with amendments; favorable with amendments reported in April 2026

Purpose and Intent

  • To increase transparency in the sale of new homes by requiring the final sale price to be entered into a multiple listing service (MLS) or a similarly accessible database within 30 days after the sale.
  • The bill aims to provide more accurate, current sale price data for new construction, supporting market evaluations, appraisals, and comparable-value analyses.

Key Provisions

  • New Section Created: Maryland Code, Real Property Article, § 10-804.
  • Definition: “Multiple Listing Service” means a database used by real estate professionals to facilitate the sale of real property and to assist in market evaluations and appraisals.
  • Mandatory Reporting Window:
    • Within 30 days after the sale of a new home in Maryland, a developer, builder, broker, or real estate agent must enter the final sale price of the new home into an MLS or a similarly accessible database.
  • Scope: Applies to the sale of new homes (not resale of existing homes).
  • Compliance: The requirement is self-enforcing through industry practice; penalties or enforcement mechanisms are not specified in the bill text provided.
  • Effective Date: The provisions take effect on October 1, 2026.

Who Is Affected

  • Developers and builders who sell new homes.
  • Licensed real estate brokers and agents involved in new-home transactions.
  • MLS administrators and other entities hosting similarly accessible databases used for real estate listings and market data.

Procedural and Timeline Aspects

  • The bill sets a clear compliance deadline: 30 days after the sale to post the final sale price.
  • The act would be in effect beginning October 1, 2026.
  • Legislative history indicates prior related proposals (HB 606 and SB 441 of 2025) and related cross-file HB 920.

Potential Impact

  • Transparency: Improves visibility of actual sale prices for new-home transactions, potentially reducing data gaps in neighborhoods with limited new-construction data.
  • Appraisals and Valuations: Provides timely data that can be used to calibrate market analyses, appraisals, and automated valuation models.
  • Market Research: Helps buyers, sellers, lenders, and policymakers better understand pricing trends in new-home markets.
  • Data Integrity: Relies on timely postings by industry participants into MLS or equivalent databases, which could raise questions about data standards and verification.

Considerations

  • The bill does not specify penalties for non-compliance or a state enforcement mechanism.
  • It does not directly address disputes over final sale price postings or data privacy concerns within MLS platforms.
  • The fiscal note indicates no anticipated impact on state or local government finances; minimal impact on small business operations.

If you’d like, I can provide a side-by-side comparison with prior related bills (HB 606, SB 441, HB 920) or draft a plain-language FAQ for readers and stakeholders.

Compiled from official sources — confirm details with the bill’s official record.

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