49 Pa. Code § 35.201
The following words and terms, when used in this chapter, have the following meanings, unless the context clearly indicates otherwise:
Accredited college-A college, university or institute of higher learning recognized by the Council for Higher Education Accreditation or the United States Secretary of Education.
Act-The Real Estate Licensing and Registration Act (63 P. S. §§ 455.101-455.902).
Agency relationship-A fiduciary relationship between a broker or licensees employed by a broker and a consumer who becomes a principal.
Associate broker-An individual broker who is employed by another broker.
Branch office-Any fixed location in this Commonwealth, other than the main office, maintained by a broker or cemetery broker, devoted to the transaction of real estate business.
Broker-An individual or entity holding either a standard or reciprocal license, that, for another and for a fee, commission or other valuable consideration, does one or more of the following:
Broker of record-The individual broker responsible for the real estate transactions of a partnership, association or corporation that holds a broker's license.
Builder-owner salesperson-An individual holding either a standard or reciprocal license, who is a full-time employee of a builder-owner of single- and multi-family dwellings located in this Commonwealth and who is authorized, for and on behalf of, the builder-owner, to do one or more of the following:
Bureau-The Bureau of Professional and Occupational Affairs of the Department.
Buyer agent-A licensee who enters into an agency relationship with a buyer/tenant.
Campground membership-An interest, other than in fee simple or by lease, which gives the purchaser the right to use a unit of real property for the purpose of locating a recreational vehicle, trailer, tent, tent trailer, pickup camper or other similar device on a periodic basis under a membership contract allocating use and occupancy rights between other similar users.
Campground membership salesperson-An individual holding either a standard or reciprocal license, who, either as an employee or an independent contractor, sells or offers to sell campground memberships under the active supervision of a broker. A licensed broker, salesperson or time-share salesperson does not need to possess a campground membership salesperson's license to sell campground memberships.
Cemetery-
Cemetery associate broker-An individual cemetery broker employed by another cemetery broker or by a broker.
Cemetery broker-An individual or entity holding either a standard or reciprocal license, that is engaged as, or carrying on the business or acting in the capacity of, a broker exclusively within the limited field or branch of business that applies to cemetery lots, plots and mausoleum spaces or openings.
Cemetery company-An individual or entity that offers or sells to the public the ownership, or the right to use, a cemetery lot.
Cemetery salesperson-An individual holding either a standard or reciprocal license, employed by a broker or cemetery broker exclusively to perform the duties of a cemetery broker.
Commission-The State Real Estate Commission.
Comparative market analysis-A written analysis, opinion or conclusion by a contracted buyer's agent, transactional licensee or an actual or potential seller's agent relating to the probable sale price of a specified piece of real estate in an identified real estate market at a specified time, offered either for the purpose of determining the asking/offering price for the property by a specific actual or potential consumer or for the purpose of securing a listing agreement with a seller.
Consumer-An individual or entity who is the recipient of any real estate service.
Credit-A period of 15 hours of instruction.
Department-The Department of State of the Commonwealth.
Designated agent-One or more licensees designated by the employing broker, with the consent of the principal, to act exclusively as the agent or agents for the principal to the exclusion of all other licensees within the broker's employ.
Distance education-Real estate instruction delivered in an independent or instructor-led format during which the student and the instruction are separated by distance and sometimes time.
Dual agent-A licensee who acts as an agent for the buyer/tenant and seller/landlord in the same transaction.
Hour of instruction-A period of at least 50 minutes.
Independent learning-An interactive educational program, including computer-based technology courses, that provides no contact with an instructor.
Initial interview-The first substantive discussion between a licensee and a consumer about the consumer's real estate needs.
Instructor-led learning-An interactive educational program, including a classroom or simulated classroom, that provides significant ongoing contact from the instructor to the participant during the learning process.
Licensee-An individual or entity holding either a standard or reciprocal license, under the act. For purposes of the consumer notice in § 35.336(a) (relating to disclosure summary for the purchase or sale of residential or commercial real estate or for the lease of residential or commercial real estate when the licensee is working on behalf of the tenant), the term means a broker or salesperson.
Listing broker-A broker who has entered into a written agreement with a seller/landlord to market property as a seller's agent, dual agent or transaction licensee.
Main office-The fixed location other than a branch office of the broker or cemetery broker in this Commonwealth or another state devoted to the transaction of real estate business.
Manager of record-The individual rental listing referral agent responsible for the rental listing transactions of a partnership, association or corporation that holds a rental listing referral agent's license.
Nonexclusive buyer agency agreement-A nonexclusive agreement governed by a memorandum or contract wherein the buyer retains the right to employ multiple brokers to purchase or lease a property.
Open listing agreement-A nonexclusive listing agreement governed by a memorandum or contract wherein the seller retains the right to employ multiple brokers to sell or lease a property.
Principal-A consumer who has entered into an agency relationship with a broker or another licensee employed by the broker.
Principal place of business-The fixed location of the broker or cemetery broker in the state where the licensee holds the equivalent of a standard license.
Real estate-An interest or estate in land-whether corporeal or incorporeal, whether freehold or nonfreehold, whether the land is situated in this Commonwealth or elsewhere-including leasehold interests and time share and similarly designated interests.
Real estate education provider-A person or institution who offers real estate education regardless of whether the learning is instructor-led or independent, excluding colleges, universities or institutes of higher learning accredited by the Middle States Association of Colleges and Secondary Schools or equivalent accreditation.
Reciprocal license-A license issued to an individual or entity whose principal place of business for the provision of real estate services is outside of this Commonwealth and who holds a current license to provide real estate services from a state that either has executed a reciprocal agreement with the Commission or has qualifications for licensure which are substantially comparable to those required by the Commission.
Rental listing referral agent-
Salesperson-An individual holding either a standard or reciprocal license, who is employed by a broker to do one or more of the following:
Seller agent-A licensee who enters into an agency relationship with a seller/landlord.
Standard license-A license, other than a reciprocal license, issued to an individual or entity who has fulfilled the education/experience and examination requirements of the act.
Subagent-A licensee, not in the employ of the listing broker, who acts or cooperates with the listing broker in selling property as a seller's/landlord's agent and is deemed to have an agency relationship with the seller.
Time share-
Time-share salesperson-An individual who, either as an employee or an independent contractor, sells or offers to sell time shares.
Transaction licensee-A licensee who, without entering into an agency relationship with the consumer, provides communication or document preparation services or performs other acts listed in the definition of "broker" or "salesperson."
49 Pa. Code § 35.201
The provisions of this §35.201 issued under the Real Estate Licensing and Registration Act (63 P. S. §§ 455.101-455.902); amended under sections 402, 404, 404.1, 513, 602, 606-606.6 and 608-608.3 of the Real Estate Licensing and Registration Act (63 P. S. §§ 455.402, 455.404, 455.404a, 455.513, 455.602, 455.606-455.606f and 455.608-455.608c); amended under sections 201, 501, 601, 602 and 604 of the Real Estate Licensing and Registration Act (63 P. S. §§ 455.201, 455.501, 455.601, 455.602 and 455.604).
This section cited in 49 Pa. Code § 35.271 (relating to examination for broker's license); 49 Pa. Code § 35.272 (relating to examination for salesperson's license); 49 Pa. Code § 35.273 (relating to examination for cemetery broker's license); 49 Pa. Code § 35.275 (relating to examination for rental listing referral agent's license); 49 Pa. Code § 35.308 (relating to relationship with educational institution); 49 Pa. Code § 35.341 (relating to approval of real estate education provider); 49 Pa. Code § 35.354 (relating to prohibited forms of advertising and solicitation); and 49 Pa. Code § 35.385 (relating to continuing education providers).