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.

(2) Confidentiality.

(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 March 30, 2002, 32 Pa.B. 1644.

Notation

Authority

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).