GENERAL ETHICAL RESPONSIBILITIES
§ 35.281. Putting contracts, commitments and agreements in writing.
(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. § § 455.101455.902); amended under sections 404, 602, 606606.6 and 608608.3 of the Real Estate Licensing Registration Act (63 P. S. § § 455.404, 455.602, 455.606455.606f and 455.608455.608c).
The provisions of this § 35.281 adopted February 24, 1989, effective February 25, 1989, 19 Pa.B. 781; amended November 17, 2000, effective November 18, 2000, 30 Pa.B. 5954; amended March 29, 2002, effective March 30, 2002, 32 Pa.B. 1644. Immediately preceding text appears at serial page (271735).
This section cited in 49 Pa. Code § 35.286 (relating to retention and production of records).
No part of the information on this site may be reproduced for profit or sold for profit.
This material has been drawn directly from the official Pennsylvania Code full text database. Due to the limitations of HTML or differences in display capabilities of different browsers, this version may differ slightly from the official printed version.