Current through Pa Acts 2024-53, 2024-56 through 2024-92
Section 455.606c - Duties of buyer's brokerIn addition to the duties generally required of a licensee as set forth in section 606.1, the duties of the broker acting as an agent of the buyer include the following:
(1) to be loyal to the buyer by taking action that is consistent with the buyer's interest in a transaction;(2) to make a continuous and good faith effort to find a property for the buyer, except that a buyer's broker is not obligated to seek additional properties for purchase while the buyer is subject to an existing contract for sale; and(3) to disclose to the listing broker, at first contact, that the broker has been engaged as a buyer's agent. In the absence of a listing broker, this disclosure shall be made to the seller. 1980, Feb. 19, P.L. 15, No. 9, § 606.3, added 1998, Nov. 25, P.L. 908, No. 112, § 5, effective in one year.