Agency
In Oregon, a 'designated agency' arrangement means:
AThe brokerage firm represents both buyer and seller equally
BOne licensee within a firm is designated to represent only the buyer and a different licensee represents only the seller in the same transaction✓ Correct
CThe Oregon Real Estate Agency has designated the licensee to handle government-owned properties
DA special license endorsement for representing foreclosure properties
Explanation
Designated agency in Oregon allows a brokerage to represent both a buyer and a seller in the same transaction by designating separate agents within the firm for each party. Each designated agent owes full fiduciary duties to their respective client, avoiding the conflicts inherent in dual agency. Both parties must consent in writing.
Related Oregon Agency Questions
- In Oregon, the agency disclosure form required by ORS 696.820 must be provided:
- Under Oregon agency law, what is the 'duty of loyalty' owed by a buyer's agent to their client?
- In Oregon, when does a buyer's agency agreement typically obligate a buyer to pay the buyer's broker a commission?
- In Oregon, when an agent makes an error in completing a purchase agreement that harms their client, they may be liable for:
- In Oregon, a listing agent discovers that a neighbor recently told them the property had significant mold issues three years ago. The seller is unaware of this. What must the agent do?
- In Oregon, what does 'imputed knowledge' mean in agency law?
- When does an Oregon listing agency agreement typically terminate?
- In Oregon, when must the 'Initial Agency Disclosure Pamphlet' be provided to a consumer in a commercial real estate transaction?
Practice More Oregon Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Oregon Quiz →