49 Pa. Code § 35.313 - Duties of buyer's agent
(a) In
addition to the duties required in §
35.292 (relating to duties of
licensees generally), a buyer's agent owes the additional duties of:
(1) Loyalty to the buyer/tenant by acting in
the buyer's/tenant's best interest.
(2) Confidentiality.
(3) Making a continuous and good faith effort
to find a property for the buyer/tenant except when the buyer/tenant is subject
to an existing contract for sale/lease.
(4) Disclosure to other parties in the
transaction that the licensee has been engaged as a buyer's agent.
(b) A licensee does not breach a
duty to a buyer/tenant by showing a property the buyer/tenant is interested in
to other buyer/tenants.
(c) A
buyer's agent represents the interests of the buyer/tenant even if paid by the
seller/landlord.
(d) Upon entering
into a written agreement with the buyer/tenant, each licensee employed by the
broker will act as a buyer's agent unless a licensee has been named, or is
thereafter named, a designated agent under §
35.315 (relating to duties of
designated agency).
Notes
The provisions of this § 35.313 issued under sections 404, 606-606.6 and 608-608.3 of the Real Estate Licensing and Registration Act (63 P. S. §§ 455.404, 455.606-455.606f and 455.608-455.608c).
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