Agency
A real estate licensee in Oregon may not act as a principal (buyer or seller for their own account) in a transaction they are involved in as an agent without:
AObtaining a special license endorsement
BFull written disclosure to all parties that the licensee has a personal financial interest in the transaction✓ Correct
CTaking a 30-day cooling off period
DConsulting with OREA before proceeding
Explanation
Oregon law (ORS 696.805) requires licensees to disclose in writing any personal financial interest they have in a transaction.
Related Oregon Agency Questions
- In Oregon, when does a listing broker's authority to bind the seller to a sales contract arise?
- Which type of agency relationship is created when an Oregon broker is appointed in a listing agreement to sell a property?
- When a listing expires in Oregon, the seller is free to sell the property on their own. However, if during the safety clause period the property is sold to a buyer the broker introduced during the listing period, the broker:
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- Under Oregon agency law, the duty of 'loyalty' means the agent must:
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