§ 35.303. Panic selling.

 (a)  The Commission will regard an attempt by a licensee to bring about panic selling in order to profit from it as bad faith under section 604(a)(20) of the act (63 P. S. §  455.604(a)(20)). For purposes of this section, ‘‘panic selling’’ is frequent efforts to sell residential real estate in a particular neighborhood because of fear of declining real estate values when the fear is not based on facts relating to the intrinsic value of the real estate itself.

 (b)  Proof of systematic solicitation of sales listings may be considered sufficient, but not conclusive, evidence of an attempt to bring about panic selling.

Authority

   The provisions of this §  35.303 issued under the Real Estate Licensing and Registration Act (63 P. S. § §  455.101—455.902).

Source

   The provisions of this §  35.303 adopted February 24, 1989, effective February 25, 1989, 19 Pa.B. 781.

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