Course Information

This course prepares Pennsylvania real estate licensees to communicate the purpose and value of professional representation, with a focus on buyer representation, to both buyers and sellers. Recent events, including class action lawsuits and potential investigations by the Department of Justice have raised the stakes for the real estate industry in regard to buyer agency. Real estate licensees need to be prepared to clearly communicate about the representation choices consumers have and engage in transparent and ethical discussions with consumers. Agents need to use contracts appropriately to establish representation relationships and to make full disclosure of compensation agreements, all while avoiding anti-trust issues in the process.

To prepare licensees for these challenges, this course reviews to the evolution of buyer representation, regulations by the Pennsylvania Real Estate Commission, the REALTOR Code of Ethics, and multiple listing service policies. This course covers timely information about current legal issues surrounding the the topic of buyer agent compensation and the policies of the National Association of REALTORS®. This course heavily focuses on teaching agents to use pro-consumer tools for the communication and negotiation of compensation agreements.

This course intends to re-educate agents that cooperation and compensation are two different things and that there is no standard or proscribed compensation amount or offer of compensation. Rather, agents have a duty to explain to consumers many different potential compensation arrangements.