Pennsylvania Code › Title 49 - PROFESSIONAL AND VOCATIONAL STANDARDS › Part I - DEPARTMENT OF STATE › Subpart A - PROFESSIONAL AND OCCUPATIONAL AFFAIRS › Chapter 35 - STATE REAL ESTATE COMMISSION › Subchapter B - GENERAL PROVISIONS › Section 35.201 - Definitions

Current through Register Vol. 54, No. 28, July 13, 2024
The following words and terms, when used in this chapter,
						have the following meanings, unless the context clearly indicates
						otherwise:
Accredited college
-A college, university
						or institute of higher learning recognized by the Council for Higher Education
						Accreditation or the United States Secretary of Education.
Act
-The Real Estate Licensing and
						Registration Act (63 P. S. §§
												455.101-455.902).
Agency relationship
-A fiduciary
						relationship between a broker or licensees employed by a broker and a consumer
						who becomes a principal.
Associate broker
-An individual broker
						who is employed by another broker.
Branch office
-Any fixed location in this
						Commonwealth, other than the main office, maintained by a broker or cemetery
						broker, devoted to the transaction of real estate business.
Broker
-An individual or entity holding
						either a standard or reciprocal license, that, for another and for a fee,
						commission or other valuable consideration, does one or more of the
						following:
(i) Negotiates with or aids
					 a person in locating or obtaining for purchase, lease or acquisition of
					 interest in real estate.
(ii)
					 Negotiates the listing, sale, purchase, exchange, lease, time share and
					 similarly designated interests, financing or option for real estate.
(iii) Manages real estate.
(iv) Represents himself or itself as a real
					 estate consultant, counsellor or house finder.
(v) Undertakes to promote the sale, exchange,
					 purchase or rental of real estate. This subparagraph does not apply to an
					 individual or entity whose main business is that of advertising, promotion or
					 public relations.
(vi) Undertakes
					 to perform a comparative market analysis.
(vii) Attempts to perform one of the actions
					 listed in subparagraphs (i)-(vi).
Broker of record
-The individual broker
						responsible for the real estate transactions of a partnership, association or
						corporation that holds a broker's license.
Builder-owner salesperson
-An individual
						holding either a standard or reciprocal license, who is a full-time employee of
						a builder-owner of single- and multi-family dwellings located in this
						Commonwealth and who is authorized, for and on behalf of, the builder-owner, to
						do one or more of the following:
(i)
					 List for sale, sell or offer for sale real estate of the
					 builder-owner.
(ii) Negotiate the
					 sale or exchange of real estate of the builder-owner.
(iii) Lease or rent, or offer to lease, rent
					 or place for rent, real estate of the builder-owner.
(iv) Collect or offer, or attempt to collect,
					 rent for real estate of the builder-owner.
Bureau
-The Bureau of Professional and
						Occupational Affairs of the Department.
Buyer agent
-A licensee who enters into
						an agency relationship with a buyer/tenant.
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 under a membership contract allocating use and occupancy rights
						between other similar users.
Campground membership salesperson
-An
						individual holding either a standard or reciprocal license, who, either as an
						employee or an independent contractor, sells or offers to sell campground
						memberships under the active supervision of a broker. A licensed broker,
						salesperson or time-share salesperson does not need to possess a campground
						membership salesperson's license to sell campground memberships.
Cemetery
-
(i) A place for the disposal or burial of
					 deceased human beings, by cremation or in a grave, mausoleum, vault,
					 columbarium or other receptacle.
(ii) The term does not include a private
					 family cemetery.
Cemetery associate broker
-An individual
						cemetery broker employed by another cemetery broker or by a broker.
Cemetery broker
-An individual or entity
						holding either a standard or reciprocal license, that is engaged as, or
						carrying on the business or acting in the capacity of, a broker exclusively
						within the limited field or branch of business that applies to cemetery lots,
						plots and mausoleum spaces or openings.
Cemetery company
-An individual or entity
						that offers or sells to the public the ownership, or the right to use, a
						cemetery lot.
Cemetery salesperson
-An individual
						holding either a standard or reciprocal license, employed by a broker or
						cemetery broker exclusively to perform the duties of a cemetery broker.
Commission
-The State Real Estate
						Commission.
Comparative market analysis
-A written
						analysis, opinion or conclusion by a contracted buyer's agent, transactional
						licensee or an actual or potential seller's agent relating to the probable sale
						price of a specified piece of real estate in an identified real estate market
						at a specified time, offered either for the purpose of determining the
						asking/offering price for the property by a specific actual or potential
						consumer or for the purpose of securing a listing agreement with a
						seller.
Consumer
-An individual or entity who is
						the recipient of any real estate service.
Credit
-A period of 15 hours of
						instruction.
Department
-The Department of State of
						the Commonwealth.
Designated agent
-One or more licensees
						designated by the employing broker, with the consent of the principal, to act
						exclusively as the agent or agents for the principal to the exclusion of all
						other licensees within the broker's employ.
Distance education
-Real estate
						instruction delivered in an independent or instructor-led format during which
						the student and the instruction are separated by distance and sometimes
						time.
Dual agent
-A licensee who acts as an
						agent for the buyer/tenant and seller/landlord in the same transaction.
Hour of instruction
-A period of at least
						50 minutes.
Independent learning
-An interactive
						educational program, including computer-based technology courses, that provides
						no contact with an instructor.
Initial interview
-The first substantive
						discussion between a licensee and a consumer about the consumer's real estate
						needs.
Instructor-led learning
-An interactive
						educational program, including a classroom or simulated classroom, that
						provides significant ongoing contact from the instructor to the participant
						during the learning process.
Licensee
-An individual or entity holding
						either a standard or reciprocal license, under the act. For purposes of the
						consumer notice in §
											35.336(a)
						(relating to disclosure summary for the purchase or sale of residential or
						commercial real estate or for the lease of residential or commercial real
						estate when the licensee is working on behalf of the tenant), the term means a
						broker or salesperson.
Listing broker
-A broker who has entered
						into a written agreement with a seller/landlord to market property as a
						seller's agent, dual agent or transaction licensee.
Main office
-The fixed location other
						than a branch office of the broker or cemetery broker in this Commonwealth or
						another state devoted to the transaction of real estate business.
Manager of record
-The individual rental
						listing referral agent responsible for the rental listing transactions of a
						partnership, association or corporation that holds a rental listing referral
						agent's license.
Nonexclusive buyer agency agreement
-A
						nonexclusive agreement governed by a memorandum or contract wherein the buyer
						retains the right to employ multiple brokers to purchase or lease a
						property.
Open listing agreement
-A nonexclusive
						listing agreement governed by a memorandum or contract wherein the seller
						retains the right to employ multiple brokers to sell or lease a
						property.
Principal
-A consumer who has entered
						into an agency relationship with a broker or another licensee employed by the
						broker.
Principal place of business
-The fixed
						location of the broker or cemetery broker in the state where the licensee holds
						the equivalent of a standard license.
Real estate
-An interest or estate in
						land-whether corporeal or incorporeal, whether freehold or nonfreehold, whether
						the land is situated in this Commonwealth or elsewhere-including leasehold
						interests and time share and similarly designated interests.
Real estate education provider
-A person
						or institution who offers real estate education regardless of whether the
						learning is instructor-led or independent, excluding colleges, universities or
						institutes of higher learning accredited by the Middle States Association of
						Colleges and Secondary Schools or equivalent accreditation.
Reciprocal license
-A license issued to
						an individual or entity whose principal place of business for the provision of
						real estate services is outside of this Commonwealth and who holds a current
						license to provide real estate services from a state that either has executed a
						reciprocal agreement with the Commission or has qualifications for licensure
						which are substantially comparable to those required by the Commission.
Rental listing referral agent
-
(i) An individual or entity that owns or
					 manages a business which collects rental information for the purpose of
					 referring prospective tenants to rental units or locations of rental
					 units.
(ii) The term does not
					 include an official or employee of a public housing authority that is created
					 under State or Federal law.
Salesperson
-An individual holding either
						a standard or reciprocal license, who is employed by a broker to do one or more
						of the following:
(i) Sell or offer to
					 sell real estate, or list real estate for sale.
(ii) Buy or offer to buy real
					 estate.
(iii) Negotiate the
					 purchase, sale or exchange of real estate.
(iv) Negotiate a loan on real
					 estate.
(v) Lease or rent real
					 estate, or offer to lease or rent real estate or to place real estate for
					 rent.
(vi) Collect rent for the use
					 of real estate, or offer or attempt to collect rent for the use of real
					 estate.
(vii) Assist a broker in
					 managing property.
(viii) Perform a
					 comparative market analysis.
Seller agent
-A licensee who enters into
						an agency relationship with a seller/landlord.
Standard license
-A license, other than a
						reciprocal license, issued to an individual or entity who has fulfilled the
						education/experience and examination requirements of the act.
Subagent
-A licensee, not in the employ
						of the listing broker, who acts or cooperates with the listing broker in
						selling property as a seller's/landlord's agent and is deemed to have an agency
						relationship with the seller.
Time share
-
(i) 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 designed
					 for separate occupancy or a campground membership or portion thereof designed
					 for separate occupancy.
(ii) The
					 term does not include a campground membership.
Time-share salesperson
-An individual
						who, either as an employee or an independent contractor, sells or offers to
						sell time shares.
Transaction licensee
-A licensee who,
						without entering into an agency relationship with the consumer, provides
						communication or document preparation services or performs other acts listed in
						the definition of "broker" or "salesperson."
The provisions of this §
													35.201 issued under the Real
						  Estate Licensing and Registration Act (63 P. S. §§
														455.101-455.902); amended under sections 402,
						  404, 404.1, 513, 602, 606-606.6 and 608-608.3 of the Real Estate Licensing and
						  Registration Act (63 P. S. §§
														455.402,
						  455.404,
						  455.404a,
						  455.513,
						  455.602,
						  455.606-455.606f and
						  455.608-455.608c); amended
						  under sections 201, 501, 601, 602 and 604 of the Real Estate Licensing and
						  Registration Act (63 P. S. §§
														455.201,
						  455.501,
						  455.601,
						  455.602 and
						  455.604).
This section cited in 49 Pa. Code §
													35.271 (relating to examination
						  for broker's license); 49 Pa. Code §
													35.272 (relating to examination
						  for salesperson's license); 49 Pa. Code §
													35.273 (relating to examination
						  for cemetery broker's license); 49 Pa. Code §
													35.275 (relating to examination
						  for rental listing referral agent's license); 49 Pa. Code §
													35.308 (relating to relationship
						  with educational institution); 49 Pa. Code §
													35.341 (relating to approval of
						  real estate education provider); 49 Pa. Code §
													35.354 (relating to prohibited
						  forms of advertising and solicitation); and 49 Pa. Code §
													35.385 (relating to continuing
						  education providers).