- (a) The Commission will regard an attempt by a licensee to bring about panic selling in order to profit from it as bad faith under section 604(a)(20) of the act (63 P. S. § 455.604(a)(20)). For purposes of this section, ‘‘panic selling’’ is frequent efforts to sell residential real estate in a particular neighborhood because of fear of declining real estate values when the fear is not based on facts relating to the intrinsic value of the real estate itself.
- (b) Proof of systematic solicitation of sales listings may be considered sufficient, but not conclusive, evidence of an attempt to bring about panic selling.
Authority
The provisions of this § 35.303 issued under the Real Estate Licensing and Registration Act (63 P. S. § § 455.101—455.902).
Source
The provisions of this § 35.303 adopted February 24, 1989, effective February 25, 1989, 19 Pa.B. 781.