Current through Register Vol. 54, No. 45, November 9, 2024
Section 35.315 - Duties of designated agent(a) A broker, with the written consent of the principal, may designate one or more licensees to act exclusively as the agent of the seller/landlord, and designate one or more licensees to act exclusively as the agent of the buyer/tenant in the same transaction.(b) Designation may take place at any time. If designation takes place after the initial designation or after a written agreement has been entered into, the broker shall: (1) Obtain the principal's consent, in writing, to the newly designated licensee.(2) Obtain, when applicable, the principal's agreement to renounce any previous agency relationship with the other licensees employed by the broker.(c) Regardless of when the designation takes place, the broker and the designated agents shall use reasonable care to ensure that confidential information is not disclosed or used.(d) The licensees employed by the broker who are not designated have no agency relationship with either party in the transaction.(e) Each licensee employed by the same broker who is a designated agent in the same transaction, owes the following additional duties, in addition to those required in § 35.292 (relating to duties of licensees generally): (1) Loyalty to the principal with whom the designated agent is acting by working in that principal's best interest.(2) Make a continuous and good faith effort to find a buyer/tenant for a principal who is a seller/landlord or to find a property for a principal who is the buyer/tenant except where the seller/landlord is subject to an existing contract for sale or lease or the buyer/tenant is subject to an existing contract to purchase or lease.(3) Disclose to the principal prior to writing or presenting an offer to purchase that the other party to the transaction is represented by a designated agent also employed by the broker.(4) Confirm that the broker is a dual agent in the transaction.(f) In the transaction specified in subsection (e), the employing broker, as a dual agent, has the additional duties, in addition to those specified in § 35.292 and § 35.314 (relating to duties of dual agents), of:(1) Taking reasonable care to protect any confidential information that has been disclosed to the designated licensees.(2) Taking responsibility to direct and supervise the business activities of the designated licensees while taking no action that is adverse or detrimental to either party's interest in the transaction.The provisions of this §35.315 adopted March 29, 2002, effective 3/30/2002, 32 Pa.B. 1644.The provisions of this §35.315 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).
This section cited in 49 Pa. Code § 35.312 (relating to duties of sellers agent); and 49 Pa. Code § 35.313 (relating to duties of buyer's agent).