Agency
In Oregon, the initial agency disclosure form must be provided to a consumer:
AOnly at closing
BBefore any substantive real estate services are provided✓ Correct
CWhen a listing agreement or buyer representation agreement is signed
DOnly when the consumer specifically requests it
Explanation
Oregon requires licensees to provide consumers with the 'Initial Agency Disclosure Pamphlet' before providing any substantive real estate services. This ensures consumers understand the nature of the agency relationship being offered.
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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.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same 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.
State-Specific Concepts
Disclosure Requirements
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