This brochure describes the legal obligations of land licensees in Oregon. Real estate agents and major brokers are required to provide you with this information when they meet with you for the first time. This brochure is just information. Neither the pamphlet nor its delivery to you can be construed as evidence to create an agency relationship between you and an agent or principal broker. None of the above positive obligations of an agent, with the exception of #7. The obligation to assert the #7 can only be waived by a written agreement between the seller and the representative. „Disclosed Limited Agency“ is just one more name for the Double Agency. It is defined in Oregon law as „a real estate transaction in which the representation of the buyer and seller or two persons is done within the same real estate transaction.“ It is clear that oregon`s alternating agency is still company-based. However, the limited agency agreements and administrative rules that have been made public have significantly changed the old „in-company“ sales model, which is still in force in most countries. Oregon law provides for three types of agency relationships between real estate agents and their clients: unless written agreement, a broker is not required to investigate matters that are not within the broker`s expertise, including, but not only, the status of the property, the legal status of the property or the seller`s prior compliance. An „agency relationship“ is a voluntary relationship in which a licensed real estate agent or principal broker (the „agent“) agrees to act on behalf of a buyer or seller (the „client“) in a real estate transaction.
Full disclosure of the disclosed restricted agency is obtained in Oregon through the inclusion of statutory initialization disclosure in the limited publishing agency agreement. The Disclosure Initialization Agency declares the representation of more than one party in a transaction, including the role of the lead broker and the restriction of loyalty and confidentiality related to the duale agency. Once the disclosure has been made, the parties allow each agent to continue to represent only the party with whom they already have a relationship, while the lead broker represents both parties as a dual mediator. Back to Above You are encouraged to discuss the above information with the licensee who delivers this brochure to you for delivery.