§ 35.312. Duties of sellers agent.
(a) In addition to the duties required in § 35.292 (relating to duties of licensees generally), a sellers agent owes the additional duties of:
(1) Loyalty to the seller/landlord by acting in the sellers/landlords best interest.
(2) Confidentiality, except that a licensee has a duty to reveal known material defects about the property.
(3) Making a continuous and good faith effort to find a buyer/tenant for the property except when the property is subject to an existing agreement of sale/lease.
(4) Disclosure to other parties in the transaction that the licensee has been engaged as a sellers agent.
(b) A licensee does not breach a duty to a seller/landlord by showing alternative properties to a prospective buyer/tenant or listing competing properties.
(c) A sellers agent may compensate other brokers as subagents if the seller/landlord agrees in writing. Subagents have the same duties and obligations to the seller/landlord as the sellers agent.
(d) A sellers agent may also compensate a buyers agent and a transaction licensee who do not have the same duties and obligations to the seller/landlord as the sellers agent.
(e) Upon entering into a written agreement with the seller/landlord, each licensee employed by the broker will act as a sellers agent unless a licensee has been named, or is thereafter named, a designated agent under § 35.315 (relating to designated agency).
The provisions of this § 35.312 issued under sections 404, 606606.6 and 608608.3 of the Real Estate Licensing and Registration Act (63 P. S. § § 455.404, 455.606455.606f and 455.608455.608c).
The provisions of this § 35.312 adopted March 29, 2002, effective March 30, 2002, 32 Pa.B. 1644.
No part of the information on this site may be reproduced for profit or sold for profit.
This material has been drawn directly from the official Pennsylvania Code full text database. Due to the limitations of HTML or differences in display capabilities of different browsers, this version may differ slightly from the official printed version.