RePA_Sales_S Exam Dumps - PA Salesperson State Exam

Alicensee must disclose all material defectsrelated to the property,including known issues like a contaminated water system.

Under 68 P.S. §§ 7303-7304 (Real Estate Seller Disclosure Law), the seller and broker must disclose all material defects affecting the property’s value or safety.

A contaminated water system is considered a health and safety issue and must be disclosed to the buyer.

Why the other answers are incorrect:

Option A (Assumable Mortgage):This is afinancial issue, not a material defect.

Option B (Seller’s New Job):The seller’s personal situationdoes not affect the property’s condition.

Option C (Divorce):Divorce is private informationand does not need to be disclosed.

Under49 Pa. Code § 35.331 (Written Agreements Generally),all parties must receive a copy of a signed offer within 1 business day of acceptance.

This ensures that buyers and sellers have full documentation of the transaction.

Delaying delivery of signed contracts can lead to disputes and potential violations of real estate regulations.

Why the other answers are incorrect:

Option A (24 Hours):While fast delivery is preferred, thelaw specifically states “1 business day.”

Option C (At Closing):Buyers must receive a copywell before closing.

Option D (Reasonably Practicable Time):This istoo vagueand does not meet thespecific 1-business-day requirement.

Under49 Pa. Code § 35.314 (Duties of Dual Agents),a dual agent represents both the buyer and seller in the same transaction and must maintain neutrality by not disclosing confidential information unless required by law.

If the salesperson has knowledge that the sellers are getting divorced, this is considered confidential information that could harm their negotiating position.

Dual agents cannot disclose confidential facts that would disadvantage either party unless both parties agree in writing.

Disclosure of confidential details in a dual agency scenario would be a violation of Pennsylvania real estate law.

Why the other answers are incorrect:

Option B (Sub-Agent of Buyer):Asub-agent of the buyer has a fiduciary duty to the buyer and may disclose information that benefits them.

Option C (Transaction Licensee):Atransaction licensee does not represent either party and may disclose non-confidential information.

Option D (Designated Buyer Agent):Adesignated agent works solely for the buyer and is free to disclose information that benefits them.

Before advertising, showing, or offering any property, areal estate licensee must obtain written authorization from the property owner. This is a legal requirement to ensure that the licensee has the right to represent the property.

49 Pa. Code § 35.331 (Written Agreements Generally)states that a real estate licenseemusthave a written agreement with the property ownerbefore performing any real estate services, including advertising and showing the property.

49 Pa. Code § 35.332 (Exclusive Listing Agreements)further clarifies that exclusive agreementsmust be in writingand signed by both the owner and broker.

Without the owner's written consent, a licensee could be subject to penalties or disciplinary action from the Pennsylvania Real Estate Commission.

Why the other answers are incorrect:

Option A (Preliminary Appraisal):Licensees are not required to conduct appraisals unless they are certified appraisers.

Option C (List of Clients):There is no requirement to provide a history of past transactions before listing or advertising a property.

Option D (Comparative Market Analysis - CMA):A CMA is useful for pricing but isnot required before advertising or showing a property.

Under49 Pa. Code § 35.284 (Disclosures of Business Relationships),the Consumer Notice defines five types of permitted relationships between real estate licensees and consumers:

Buyer’s Agent– Represents the buyer and has a fiduciary duty to them.

Seller’s Agent (Listing Agent)– Represents the seller and has a fiduciary duty to them.

Designated Agent– A brokerage firm designates different agents to represent buyers and sellers in the same firm without creating dual agency.

Dual Agent– A licensee represents both the buyer and seller in the same transaction, with mutual consent.

Transaction Licensee– A real estate licensee who provides services but does not represent either party as an agent.

Why the other answers are incorrect:

Option A (Rental Agent):"Rental agent" is not a defined relationship in Pennsylvania law.

Option B (Buyer & Seller Sub-Agent):Sub-agency is no longer common and is not a required disclosure.

Option D (Designated Dual Agent):Dual agency and designated agency are separate concepts.