Current through Register Vol. 54, No. 49, December 7, 2024
Section 35.292 - Duties of licensees generally(a) The following duties are owed to all consumers of real estate services and may not be waived: (1) Exercise reasonable professional skill and care.(2) Deal honestly and in good faith.(3) Present, in a reasonably practicable period of time, all offers, counteroffers, notices and communications to and from the parties in writing, unless the property is subject to an existing contract and the seller/landlord has agreed in a written waiver.(4) Comply with 68 Pa.C.S. Chapter 73 (relating to Real Estate Seller Disclosure Law).(5) Account for escrow and deposits funds as required by section 604(a)(5) of the act (63 P. S. § 455.604(a)(5)) and §§ 35.321-35.328 (relating to escrow requirements).(6) Provide consumers with the information in section 608 of the act (63 P. S. § 455.608) at the initial interview.(7) Disclose, in a reasonably practicable period of time, all conflicts of interest and financial interests as required in § 35.283 (relating to disclosure of interest).(8) Advise the consumer to seek expert advice on matters about the transaction that are beyond the licensee's expertise.(9) Ensure that all services are provided in a reasonable, professional and competent manner.(10) Keep the consumer informed about the transaction and the tasks to be completed.(11) Provide assistance with document preparation.(12) Advise the consumer about compliance with laws pertaining to real estate transactions without rendering legal advice.(b) A licensee is not required to conduct an independent inspection of the property.(c) A licensee is not required to independently verify the accuracy or completeness of any representation made by the consumer to a transaction which the licensee reasonably believes to be accurate and reliable.(d) A licensee is not liable for the acts of a consumer unless the consumer is acting at the express direction of the licensee or as a result of a representation by a licensee reasonably relied on by the consumer.The provisions of this § 35.292 adopted March 29, 2002, effective 3/30/2002, 32 Pa.B. 1644.The provisions of this § 35.292 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 § 35.311 (relating to generally); 49 Pa. Code § 35.313 (relating to duties of buyer's agent); 49 Pa. Code § 35.315 (relating to duties of designated agent); 49 Pa. Code § 35.316 (relating to duties of transaction licensee); and 49 Pa. Code § 43b.8 (relating to schedule of civil penalties-real estate and cemetery brokers, real estate schools).