Agency
The Oregon Initial Agency Disclosure Pamphlet must be provided to a consumer BEFORE the broker:
AShows any property
BProvides any substantive real estate services✓ Correct
CCollects any compensation
DPrepares any written documents
Explanation
Oregon law requires the Initial Agency Disclosure Pamphlet to be provided before the licensee provides any substantive real estate services to the consumer. 'Substantive' services are those that go beyond providing basic information about properties or the market.
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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.
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.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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