Pennsylvania Real estate agent disclosure when buying a FSBO

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Pennsylvania Real estate agent disclosure when buying a FSBO

Trent Burns
Member since 2021 · 3 posts · 1 vote

Does anyone know if you have to disclose that you are a real estate agent in Pennsylvania if you are buying a home directly from the owner? From everything that I have read, I can only find the disclosure needed for selling a property in Pennsylvania but there seems to be nothing written about buying a property as an agent. I am currently in the process of getting my license and have been doing wholesaling by double closing.

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  • Kevin Sobilo
    Realtor · Hanover Twp, PA · Member since 2018 · 3k+ posts · 3k+ votes
    4y

    @Trent Burns, I believe with any type of real estate transaction you need to disclose your license status. Its very important when buying a property because a FSBO seller. You want them to know you are an agent AND you want them to know you ARE NOT acting as their agent and you want that in writing. This way they can't later claim you duped them by talking to them as an agent and then using that information to get a better deal for yourself.

    Disclosure and making the relationship or lack thereof is important to avoid problems later on.

    Also, keep in mind when you get licensed your broker may not allow you to keep wholesaling. Wholesaling and being an agent are difficult things to do at the same time without running into issues. So, many brokers will not allow their agents to do it.

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  • Timothy Frazier
    Pittsburgh, PA · Member since 2019 · 41 posts · 11 votes
    4y

    @Trent Burns

    Yes you need to, I always put at the end of the sales agreement “Buyer is a licensed real estate agent in the state of Pennsylvania.”

    Also I have had agents purchase property I have listed they include that same language as well.

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  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    4y

    Yes. Every state requires the disclosure of licensee status. If you are an NAR member, it is also a requirement per the Code of Ethics.

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