§ 35.314. Duties of dual agent.
(a) A licensee may act as a dual agent if both parties consent in writing.
(b) In addition to the duties required in § 35.292 (relating to duties of licensees generally), a dual agent owes the additional duties of:
(1) Taking no action that is adverse or detrimental to either partys interest in the transaction.
(2) Unless otherwise agreed in writing, making a continuous and good faith effort to find a buyer/tenant for the property and a property for the buyer/tenant except when the buyer/tenant or seller/landlord is subject to an existing contract.
(3) Confidentiality, except that a licensee is required to disclose known material defects about the property.
(c) A dual agent does not breach a duty to the seller/landlord by showing properties not owned by the seller/landlord to a prospective buyer/tenant or listing competing properties for sale/lease.
(d) A dual agent does not breach a duty to a buyer/tenant by showing a property the buyer/tenant is interested in to other prospective buyer/tenants.
The provisions of this § 35.314 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 § 35.314 adopted March 29, 2002, effective March 30, 2002, 32 Pa.B. 1644.
This section cited in 49 Pa. Code § 35.315 (relating to duties of designated agent).
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