Pennsylvania Real Estate Broker Licensing Examination

A dual agent is the licensee (or broker) acting as agent for both buyer/tenant and seller/landlord in the same transaction, while designated agents are separate licensees of the same broker each acting exclusively for their own principal — with the supervising broker automatically serving as dual agent.

A buyer's agent owes the added duty of a continuous, good faith effort to find a property for the buyer/tenant, whereas a transaction licensee owes only limited confidentiality (e.g., may not disclose that the buyer will pay more than the written offer price) while still disclosing known material defects.

Compensation does not create agency: a buyer's agent represents the buyer/tenant even if paid by the seller/landlord, and a buyer's agent or transaction licensee compensated by the seller's agent does not owe the seller the same duties as the seller's agent.

Broker activity includes performing a comparative market analysis for a fee or holding oneself out as a real estate consultant, counsellor or house finder for another for consideration; a salesperson is an individual employed by a broker who performs enumerated acts such as collecting (or attempting to collect) rent for the use of real estate.

The 90-day waiting period delaying State Real Estate Commission action applies only to initial complaints; second or subsequent complaints may be brought by the individual or the PHRC directly to the Commission with no waiting period.

The Recovery Fund reimburses persons holding uncollectible final civil judgments against licensees for fraud, misrepresentation or deceit, while all fines and civil penalties imposed under Sections 305 and 604 are paid into the Professional Licensure Augmentation Account.

A revoked licensee may not be relicensed/reinstated for at least 5 years from the date revocation begins and then only at the Commission's discretion upon petition and meeting all qualifications (including exam); a person inactive 5 years without renewing must pass the examination pertinent to the license before reissuance.

A sole-proprietor broker or broker of record may give any employee (licensed or unlicensed) written authority to deposit money into the escrow account, but only a licensed employee may be given written authority to withdraw funds properly chargeable to the account.

In a cobrokerage transaction the escrow duty follows the tender: if the buyer tenders the deposit to the listing broker rather than the selling broker, the listing broker assumes the escrow duty.

When money is expected to be held more than six months the broker is encouraged but not required to use an interest-bearing account, and the broker may not claim the interest earned unless the broker is a lessor under the Landlord and Tenant Act.

Brokers may supervise multiple offices through associate brokers, but a rental listing referral agent may not supervise more than one office.

Delivery to the buyer or buyer's agent may be by personal delivery, first class mail, certified mail return receipt requested, or facsimile transmission; electronic mail is not a listed acceptable method.