Agency
In Oregon, the agency disclosure form required by ORS 696.820 must be provided:
AOnly when the buyer makes a written offer
BBefore the first substantive contact or performance of any licensed activity✓ Correct
CAt the time of listing only, not with buyers
DWithin 3 business days of first contact
Explanation
Oregon's agency disclosure form must be provided before the first substantive contact — that is, before a licensee performs any licensed real estate activity for a prospective buyer or seller. 'Substantive contact' means meaningful communication about a specific property or the buyer's or seller's needs.
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Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
State-Specific Concepts
Disclosure Requirements
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