Comprehensive and Detailed Explanation From Exact Extract of Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course:

The buyer determines the amount of the earnest money deposit, since it is the buyer's good-faith indication of intent to perform under the contract.

The licensee can explain customary local practices and typical deposit amounts but may not set or require a specific figure.

The offer, including the deposit amount, becomes binding only when accepted by the seller.

This is emphasized in the Contracts and Offer Preparation module, which explains that the buyer controls all offer terms, including price, contingencies, and deposit.

Reference (Maryland Source):

-- Maryland 60-Hour Principles and Practices Course, Real Estate Contracts section.

-- Business Occupations and Professions Article 17-322 (Improper Brokerage Practices).