Pennsylvania law requires all licensed real estate Brokers and Salespersons ('Licensees') to advise consumers who seek to sell, purchase or lease real estate located within the state of Pennsylvania, of the various types of Business Relationships permitted by the Pennsylvania Real Estate Licensing & Registration Act :

Before you disclose information to a Licensee, please be advised that unless you select an agency relationship with the Licensee, the Licensee is not representing you.

A business relationship will not be presumed, but must be established between the consumer and the Licensee. A Licensee who provides you with real estate services in Pennsylvania owes you the following duties :

a.   Exercise reasonable professional skill and care meeting standards required by the Pennsylvania Real Estate Licensing and Registration Act.

b.   Comply with the Pennsylvania Real Estate Seller Disclosure Act.

c.   Present, in a reasonably practicable period of time, all offers, counteroffers, notices, and communications to and from principal parties in writing. The duty to present written offers and counteroffers may be waived if the waiver is in writing.

d.   Account for escrow and deposit monies.

e.   Disclose any conflicts of interest in a reasonably practicable period of time.

f.    Deal honestly and in good faith.

g.   Provide assistance with document preparation and advise the consumer regarding compliance with laws pertaining to real estate transactions in Pennsylvania .

h.   Advise the consumer to seek expert advice on matters about a transaction that are beyond the scope of the licensee's expertise.

i.   Keep the consumer informed about the transaction and tasks to be completed.

j.   Disclose any financial interest in any service such as mortgage instruments, document preparation and deed transfer services, insurance, construction, repair, or inspection services, at the time the service is recommended, or, the first time a Licensee learns that the service will be used.

A Licensee may have the following business relationships with the consumer :

SELLER AGENCY

Seller Agency is a relationship in which the Licensee, upon entering into a written agreement, works only for the Seller. Sellers' Agents owe these duties :  

Loyalty to the Seller by acting in Seller's best interests.

Confidentiality, except that a Licensee has a duty to reveal known material defects about a property.

Making a continuous and good faith effort to find a buyer for the property, except while the property is subject to an existing agreement.

Disclosure to other parties in the transaction that the Licensee has been engaged as a Sellers' Agent.  

A Sellers' Agent may compensate other brokers as subagents if the Seller agrees in writing. Subagents have the same duties and obligations as the Sellers' Agent. Sellers' Agents may also compensate Buyers' Agents and Transaction Licensees who do not have the same duties and obligations as Sellers' Agents.  

If you enter into a written agreement, the Licensees in the real estate company owe you the additional duties described above under 'Seller Agency'. The exception is Designated Agency. See the 'Designated Agency' section in this notice for more information.

BUYER AGENCY  

Buyer Agency is a relationship in which the Licensee, upon entering into a written agreement, works only for the Buyer. Buyers' Agents owe these duties : 

Loyalty to the Buyer or Tenant by acting in Buyer's best interest.

Confidentiality, except that a Licensee is required to disclose known material defects about the property.

Making a continuous and good faith effort to find a property for the Buyer, except while the Buyer is subject to an existing contract.

Disclosure to other parties in the transaction that licensee has been engaged as a Buyer's Agent.   

A Buyers' Agent may be paid fees, which may include a percentage of the sale price paid by the Buyer or Tenant, or by the Seller or Landlord, or by the Sellers' Agent. Even if paid by a party other than the Buyer, a Buyers' Agent will represent the interests of the Buyer. 

If you enter into a written agreement, the Licensees in the real estate company owe you the duties described above under 'Buyer Agency'. The exception is Designated Agency. See the 'Designated Agency' section of this notice for more information.

DUAL AGENCY

Dual Agency is a relationship in which the Licensee acts as the agent for both the Seller and the Buyer in the same transaction, with the written consent of all parties. Dual Agents owe these additional duties :  

Taking no action that is adverse or detrimental to either party's interest in the transaction.

Unless otherwise agreed to in writing, making a continuous and good faith effort to find a Buyer for the property and a property for the Buyer, unless either is subject to an existing contract.

Confidentiality, except that a Licensee is required to disclose known material defects about the property.

DESIGNATED AGENCY

In Designated Agency, the employing broker may, with your consent, designate one or more Licensees from the real estate company to represent you. Other Licensees in the same company may represent another party but shall not be provided with confidential information. The Designated Agent shall have the duties described above under 'Seller Agency' and 'Buyer Agency'. In Designated Agency, the employing broker will be a Dual Agent and have these additional duties :  

Taking reasonable care to protect any confidential information disclosed to the Licensee.

Taking responsibility to direct and supervise the business activities of the Licensees who represent the Seller and the Buyer, while taking no action that is adverse or detrimental to ether party's interest in the transaction.

The designation may take place at the time the parties enter into a written agreement, but may occur at a later time. Regardless of when the designation takes place, the employing broker is responsible for ensuring that confidential information is not disclosed.

TRANSACTION LICENSEE

A Transaction Licensee is a broker or salesperson who provides communication or document preparation services or performs other acts for which a license is required, without being the agent or advocate for either the Seller, or, the Buyer. Upon signing a written agreement or disclosure, a Transaction Licensee has the duty of limited confidentiality in that the following information may not be disclosed : 

The Seller will accept a price less than the asking or listed price.

The Buyer will pay a price greater than the price submitted in a written offer.

The Seller, or the Buyer, will agree to financing terms other than those offered.

Other information deemed confidential by the consumer shall not be provided to the Transaction Licensee.

OTHER INFORMATION ABOUT REAL ESTATE TRANSACTIONS IN PA

The following are negotiable, and shall be addressed in any agreement, contract, or disclosure statement with the Licensee :

The duration of the employment, listing agreement, or contract.

The fees or commissions.

The scope of activities or services.

The broker's cooperation with other brokers, including sharing of fees, if any.

Any Agreement of Sale must contain the zoning classification of the property, except in cases where the property is zoned solely or primarily to permit single family dwellings.

A Real Estate Recovery Fund exists to reimburse any person who has obtained a final civil judgement against a Pennsylvania real estate Licensee owing to misrepresentation, fraud or deceit in a real estate transaction, and who has been unable to collect the judgement after exhausting all legal and equitable remedies.

For details about the Real Estate Recovery Fund, call 717-783-3658.