Current through Register Vol. 54, No. 50, December 14, 2024
Section 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.(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).The provisions of this § 35.313 adopted March 29, 2002, effective 3/30/2002, 32 Pa.B. 1644.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).