Pennsylvania Code
Title 49 - PROFESSIONAL AND VOCATIONAL STANDARDS
Part I - DEPARTMENT OF STATE
Subpart A - PROFESSIONAL AND OCCUPATIONAL AFFAIRS
Chapter 35 - STATE REAL ESTATE COMMISSION
Subchapter E - STANDARDS OF CONDUCT AND PRACTICE
GENERAL ETHICAL RESPONSIBILITIES
Section 35.281 - Putting contracts, commitments and agreements in writing

Universal Citation: 49 PA Code § 35.281

Current through Register Vol. 54, No. 44, November 2, 2024

(a) All contracts, commitments and agreements between a broker, or a licensee employed by the broker, and a principal or a consumer who is required to pay a fee, commission or other valuable consideration shall be in writing and contain the information specified in § 35.331 (relating to written agreements generally).

(b) The following are exceptions to subsection (a):

(1) Open listing agreements or nonexclusive buyer agency agreements may be oral if the seller/buyer or landlord/tenant is provided with a written memorandum stating the terms of the agreement.

(2) Transaction licensees or subagents cooperating with listing brokers are not required to obtain a written agreement from the seller/landlord.

(3) Transaction licensees or subagents who provide services to the buyer/tenant but are paid by the seller/landlord or listing broker shall provide, and have signed, a written disclosure statement describing the nature of the services to be performed and containing the information required by section 608 of the act (63 P. S. § 455.608).

(c) A licensee may perform services before an agreement is signed, but the licensee is not entitled to recover a fee, commission or other valuable consideration in the absence of a signed agreement.

The provisions of this §35.281 issued under the Real Estate Licensing and Registration Act (63 P. S. §§ 455.101-455.902); amended under sections 404, 602, 606-606.6 and 608-608.3 of the Real Estate Licensing Registration Act (63 P. S. §§ 455.404, 455.602, 455.606-455.606f and 455.608-455.608c).

This section cited in 49 Pa. Code § 35.286 (relating to retention and production of records).

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