63 Pa. Stat. § 455.201
The following words and phrases when used in this act shall have, unless the context clearly indicates otherwise, the meanings given to them in this section:
"Agency relationship." A relationship whereby the broker or licensees in the employ of the broker act as fiduciaries for a consumer of real estate services by the express authority of the consumer of real estate services.
"Associate broker." A broker employed by another broker.
"Broker." Any of the following:
"Broker price opinion." An estimate prepared by a broker, associate broker or salesperson that details the probable selling price of a particular parcel of real property and provides a varying level of detail about the property's condition, market and neighborhood, and information on comparable sales, but does not include an automated valuation model as defined in section 1125(d) of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 ( Public Law 101-73, 12 U.S.C. 3354 (d)).
"Builder-owner salesperson." Any person who is a full-time employee of a builder-owner of single and multifamily dwellings located within the Commonwealth and as such employee shall be authorized and empowered to list for sale, sell or offer for sale, or to negotiate the sale or exchange of real estate, or to lease or rent, or offer to lease, rent or place for rent, any real estate owned by his builder-owner employer, or collect or offer, or attempt to collect, rent for the use of real estate owned by his builder-owner employer, for and on behalf of such builder-owner employer.
"Buyer agent." Any licensee who has entered into an agency relationship with a consumer buyer of real estate.
"Campground membership." An interest, other than in fee simple or by lease, which gives the purchaser the right to use a unit of real property for the purpose of locating a recreational vehicle, trailer, tent, tent trailer, pickup camper or other similar device on a periodic basis pursuant to a membership contract allocating use and occupancy rights between other similar users.
"Campground membership salesperson." A person who either as an employee or an independent contractor sells or offers to sell campground memberships. Such person shall sell campground memberships under the active supervision of a broker. A person licensed as a broker, as a salesperson or as a time-share salesperson shall not be required to be licensed as a campground membership salesperson as a condition for selling or offering to sell campground memberships.
"Cemetery." A place for the disposal or burial of deceased human beings, by cremation or in a grave, mausoleum, vault, columbarium or other receptacle, but the term does not include a private family cemetery.
"Cemetery broker." Any person engaging in or carrying on the business or acting in the capacity of a broker within this Commonwealth exclusively within the limited field or branch of business which applies to cemetery lots, plots and mausoleum spaces or openings.
"Cemetery company." Any person who offers or sells to the public the ownership, or the right to use, any cemetery lot.
"Cemetery salesperson." Any person employed by a broker or cemetery broker to perform duties as defined herein under "cemetery broker."
"Commercial property." Any of the following:
"Commission." The State Real Estate Commission.
"Commissioner." Commissioner of Professional and Occupational Affairs.
"Comparative market analysis." A written analysis, opinion or conclusion by a broker, associate broker or salesperson relating to the probable sale or rental price of a specified parcel of real property in an identified real estate market at a specified time, which is prepared for any of the following:
"Consumer." A person who is the recipient of any real estate service.
"Department." The Department of State acting through the Commissioner of Professional and Occupational Affairs.
"Designated agent." One or more licensees designated by the employing broker, with the consent of the principal, to act exclusively as an agent or as agents on behalf of the principal to the exclusion of all other licensees within the broker's employ.
"Disclosure." Provision of all relevant facts, without reservation, ambiguity or distortion so as to enable a consumer to understand the options and weigh the risks and benefits in order to make a decision in his or her own best interest.
"Distance education." Real estate instruction delivered in an independent or instructor-led asynchronous format during which the student and the instructor are separated by distance and time.
"Dual agent." A licensee who acts as an agent for the buyer and seller, or lessee and landlord, in the same transaction.
"Employ, employed, employee, employment." The use of the words employ, employed, employee or employment in this act shall apply to the relationship of independent contractor as well as to the relationship of employment, except as applied to builder-owner salespersons.
"License." The term includes both a standard license and a reciprocal license.
"Licensee." A person who holds a standard license or a reciprocal license.
"Listing broker." A broker engaged as a seller's agent, dual agent or transaction licensee to market the property of a seller/landlord for sale or lease pursuant to a written agreement with the seller/landlord.
"Person." Any individual, corporation, corporate fiduciary, partnership, association or other entity, foreign or domestic.
"Principal." A consumer of real estate services who has entered into an agency relationship with a broker.
"Qualified association." A corporation, limited liability partnership, limited partnership or limited liability company that:
"Real estate." Any interest or estate in land, whether corporeal, incorporeal, freehold or nonfreehold, whether the land is situated in this Commonwealth or elsewhere including leasehold interests and time share and similarly designated interests. A sale of a mobile home shall be deemed to be a transfer of an interest in real estate if accompanied by the assignment of the lease or sale of the land on which the mobile home is situated.
"Real estate service." An act or acts requiring a real estate license.
"Reciprocal license." A license issued under section 602(a) through (e).
"Rental listing referral agent." Any person who owns or manages a business which collects rental information for the purpose of referring prospective tenants to rental units or locations of such units. The term "rental listing referral agent" shall not include any employee or official of any public housing authority created pursuant to State or Federal law.
"Residential property." Real property located within this Commonwealth that consists of not less than one and not more than four residential dwelling units.
"Salesperson." Any person employed by a licensed real estate broker to perform comparative market analyses or to list for sale, sell or offer for sale, to buy or offer to buy or to negotiate the purchase or sale or exchange of real estate or to negotiate a loan on real estate or to lease or rent or offer to lease, rent or place for rent any real estate or collect or offer or attempt to collect rent for the use of real estate or engage or attempt to engage in a wholesale transaction for or in behalf of such real estate broker. No person employed by a broker to perform duties other than those activities as defined herein under "broker" shall be required to be licensed as a salesperson.
"School." Any person who conducts classes in real estate subjects but is not a college, university or institute of higher learning duly accredited by the Middle States Association of Colleges and Secondary Schools or equivalent accreditation.
"Seller agent." Any licensee who has entered into an agency relationship with a seller of real estate.
"Short sale." A sale of real property in which the seller's proceeds are less than the amount required to pay off all liens secured by the property.
"Standard license." Any license issued under this act that is not a reciprocal license.
"Subagent." A broker, not in the employ of the listing broker, who is engaged to act for, or cooperate with, the listing broker in selling property as an agent of the seller. A subagent is deemed to have an agency relationship with the seller.
"Time share." The right, however evidenced or documented, to use or occupy one or more units on a periodic basis according to an arrangement allocating use and occupancy rights of that unit or those units between other similar users. As used in this definition, the term "unit" is a building or portion thereof permanently affixed to real property and designated for separate occupancy or a campground or portion thereof designated for separate occupancy. The phrase "time share" does not include campground membership.
"Time-share salesperson." A person who either as an employee or independent contractor sells or offers to sell time shares. Such person shall sell time shares under the active supervision of a broker. A person licensed as a broker or as a salesperson shall not be required to be licensed as a time-share salesperson as a condition for selling or offering to sell time shares.
"Wholesale transaction." Undertaking to promote the sale, exchange or purchase of an equitable interest or other interest in residential property with the intent to assign, sell or otherwise transfer the interest for a fee, commission or other valuable monetary consideration without having taken title as the owner of record of the interest.
63 P.S. § 455.201