Free Real Estate Licensing RePA_Sales_S Exam Dumps

Under The Pennsylvania Real Estate Appraisers Certification Act (63 P.S. 457.1-457.19), only a state-certified or licensed appraiser can perform real estate appraisals for loan purposes.

Real estate brokers and salespersons can perform Comparative Market Analyses (CMAs) but cannot legally perform an appraisal for a lender.

This restriction ensures that appraisals used for lending purposes meet state and federal standards.

Why the other answers are incorrect:

Option A (CMAs as Appraisals): CMAs are not appraisals.

Option B (Before Offer Accepted): The timing of the appraisal does not change licensing requirements.

Option C (Disclosure to Lender): Even with disclosure, brokers are not permitted to conduct appraisals for loans.

Pennsylvania Real Estate Appraisers Certification Act (63 P.S. 457.1-457.19)

Under 49 Pa. Code 35.311 (Duties of Buyer's Agent), a buyer's agent must disclose their relationship to the listing broker or seller before providing substantive services.

This ensures that all parties understand who represents whom in the transaction.

Failure to disclose agency relationships could result in ethical violations and penalties from the Pennsylvania Real Estate Commission.

Why the other answers are incorrect:

Option A (Initiate a Title Search): This is typically done by the buyer's attorney or title company, not the real estate broker.

Option B (Recommend an Inspection): While good practice, it is not legally required under agency law.

Option C (Disclose Dual Representation): This is incorrect because the broker is not acting as a dual agent in this case.

49 Pa. Code 35.311 -- Duties of Buyer's Agent