Agency
In Oregon, a transaction where a licensed broker acts as the buyer and is purchasing property must include which disclosure?
ANo special disclosure is required
BThe licensee must disclose their licensed status in writing before the transaction✓ Correct
CThe broker must obtain OREA approval before purchasing
DThe broker must use a different brokerage to represent themselves
Explanation
Under ORS Chapter 696, when an Oregon licensed broker is a party to a transaction (buying or selling property), they must disclose their licensee status in writing. This protects the other party from being at an informational disadvantage when dealing with a real estate professional who has specialized market knowledge.
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