Current through Register Vol. 54, No. 50, December 14, 2024
Section 35.316 - Duties of transaction licenseeIn addition to the duties required in § 35.292 (relating to duties of licensees generally), a transaction licensee shall advise the consumer that the licensee:
(1) Is not acting as an agent or advocate for the consumer and should not be provided with confidential information.(2) Owes the additional duty of limited confidentiality in that the following information may not be disclosed:(i) The seller/landlord will accept a price less than the asking/listing price.(ii) The buyer/tenant will pay a price greater than the price submitted in a written offer.(iii) The seller/landlord or buyer/tenant will agree to financing terms other than those offered.The provisions of this § 35.316 adopted March 29, 2002, effective 3/30/2002, 32 Pa.B. 1644.The provisions of this § 35.316 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).