As used in this subchapter, unless the context otherwise requires:
(1) “Agent” means any individual, partnership, corporation or trustee defined as a broker in § 2901 of Title 24, acting on behalf of a seller or buyer of residential real property.
(2) “Buyer” means any individual, partnership, corporation or trustee purchasing any estate or interest in real property.
(3) “Final settlement” means the time at which the parties have signed and delivered all papers and consideration to convey title to the estate or interest in residential real property being conveyed.
(4) “Residential real property” means any estate or interest in a manufactured housing lot or real property, improved by dwelling units for 1-4 families.
(5) “Seller” means any individual, partnership, corporation or trustee transferring residential real property.
(6) “Subagent” means any individual, partnership, corporation or trustee defined as a broker or sales person in § 2901 of Title 24 acting on behalf of an agent.