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Bill would require timely reporting of new-home sales to MLS or similar database, proponents say it would correct appraisal gaps
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Summary
Sen. Antonio Hayes’ SB 8-11 would require developers to enter final sale prices for new homes into MLS or a similar accessible database within 30 days to improve appraisal comps; Realtors support amendments to avoid mandating a private subscription and industry groups warned of implementation and equity issues.
Senator Antonio Hayes presented Senate Bill 8-11 to address missing sales data for newly constructed homes that are sold directly by developers and not consistently entered into multiple listing services (MLS).
“If a newly constructed home is sold directly by a developer, those final sales are not always entered into MLS,” Senator Hayes said, arguing the gap leaves appraisers without critical comparables and disproportionately affects communities of color.
Lisa May for Maryland Realtors said there are about 1,000 pre-2023 problematic agreements elsewhere in testimony and, on SB 8-11, urged the committee to strike a requirement that would force use of a privately owned MLS and instead endorse “a similar database” or alternative. “If it is your goal not to essentially require the use of a private for profit service, we would be very supportive of coming up with an alternative,” she said.
Opponents from the building industry warned mandating MLS could force subscription to a private service and noted timing issues for county recording systems; they also flagged MPDU pricing distortions if such units are included in MLS as comparables.
Next steps: Committee members pressed witnesses on whether consumer-facing platforms like Zillow already surface most deeds, and asked how a legislated reporting requirement would differ in practice from existing public land-record reporting.
No formal vote was recorded at the conclusion of testimony.
