Question 10

Failing to give the escrow funds promptly to the broker is a violation of Pennsylvania real estate license law.

In Pennsylvania, real estate license law mandates that escrow funds must be handled in a timely manner, and failing to deliver these funds promptly to the broker is a clear violation.

A) Accepting a bonus from the licensee's broker

Accepting a bonus from the broker is generally permissible under Pennsylvania real estate laws as long as it is disclosed and agreed upon. This practice does not constitute a violation of the license law.

B) Requiring the seller to hire an appraiser

Requiring a seller to hire an appraiser is not a violation of real estate license law. It is a common practice to ensure that properties are accurately valued, and agents can suggest this without breaking any regulations.

C) Advertising a new listing in a real estate magazine

Advertising a new listing in a real estate magazine is a standard practice in the industry and does not violate Pennsylvania real estate license law. It is essential for marketing properties and is encouraged among licensees.

D) Failing to give the escrow funds promptly to the broker

Failing to give the escrow funds promptly to the broker is indeed a violation of Pennsylvania real estate license law. Licensees are required to handle escrow funds with care and ensure they are delivered to the broker without unnecessary delay, as this is crucial for maintaining trust in real estate transactions.

Conclusion

The correct answer, failing to give the escrow funds promptly to the broker, is a definitive violation of Pennsylvania real estate license law due to the importance of timely fund management in real estate transactions. All other options are legitimate practices within real estate operations and do not infringe on the established legal frameworks.