Agency
An Oregon buyer's agent who is also the principal broker discovers that the property their buyer wants to purchase is owned by the broker's parent. The broker must:
AProceed without disclosure since family members are not a regulated conflict
BDisclose the ownership relationship and obtain the buyer's written informed consent to proceed✓ Correct
CImmediately terminate the buyer representation agreement
DRequire the buyer to use a different broker
Explanation
When a broker is involved in a transaction where they or a closely related party has a personal interest, Oregon law requires full disclosure of that interest and written informed consent from the client before proceeding. This is a direct conflict of interest that must be handled transparently.
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Key Terms to Know
Buyer's Agent
A real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
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