Pennsylvania License Law
What is a 'transaction licensee' under Pennsylvania RELRA?
AA licensee who represents both buyer and seller in dual agency
BA licensee who facilitates a transaction without representing either party as an agent✓ Correct
CA temporary license issued for single-transaction participants
DA commercial licensee authorized for large commercial transactions only
Explanation
Pennsylvania RELRA recognizes 'transaction licensee' as a relationship where the licensee assists both buyer and seller in completing the transaction without representing either party as a fiduciary agent. A transaction licensee provides services (showing property, preparing documents, facilitating communication) but does not owe fiduciary duties to either party. This must be disclosed in writing via the Consumer Notice.
Related Pennsylvania Pennsylvania License Law Questions
- A Pennsylvania broker's license allows the holder to:
- The Pennsylvania State Real Estate Commission has the authority to:
- RELRA permits a Pennsylvania real estate licensee to be compensated only by:
- A Pennsylvania broker who discovers a licensee in their office has falsified a buyer's financial documents in a loan application must:
- The Pennsylvania Real Estate Commission (PREC) is empowered to do all of the following EXCEPT:
- Pennsylvania licensees who participate in internet-based real estate activities must ensure their websites:
- How often must Pennsylvania real estate licensees complete continuing education requirements to renew?
- What is the Pennsylvania real estate license exam format and what topics does it cover?
Practice More Pennsylvania Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Pennsylvania Quiz →