63 Pa. Stat. § 455.606d

Current through Pa Acts 2024-53, 2024-56 through 2024-92
Section 455.606d - Duties of dual agent
(a) A licensee may act as a dual agent only with the written consent of both parties to the transaction following the disclosures given at the initial interview required by section 608. The consent must include a statement of the terms of compensation.
(b) In addition to the duties generally required of a licensee as set forth in section 606.1, the duties of a dual agent include the following:
(1) to take no action that is adverse or detrimental to either party's interest in a transaction;
(2) unless otherwise agreed to in writing, to make a continuous and good faith effort to find a buyer for the property, except that a dual agent is not obligated to seek additional offers to purchase the property while it is subject to an existing contract for sale; and
(3) unless otherwise agreed to in writing, to make a continuous and good faith effort to find a property for the buyer, except that a dual agent is not obligated to seek additional properties to purchase while the buyer is a party to an existing contract to purchase.
(c) A dual agent may show alternative properties not owned by the seller to prospective buyers and may list competing properties for sale without breaching any duty to the seller. A dual agent may show properties in which the buyer is interested to other prospective buyers without breaching any duty to the buyer.

63 P.S. § 455.606d

1980, Feb. 19, P.L. 15, No. 9, § 606.4, added 1998, Nov. 25, P.L. 908, No. 112, § 5, effective in one year.