Oregon License Law
The Oregon Real Estate Agency may issue a cease-and-desist order when:
AA licensee fails to complete continuing education
BSomeone engages in the practice of real estate without a license✓ Correct
CA broker charges a commission higher than the market average
DA listing expires without the property selling
Explanation
OREA has the authority to issue cease-and-desist orders to unlicensed persons who are engaging in real estate brokerage activities for compensation. Operating without a license is a violation of ORS Chapter 696 and subjects the person to both cease-and-desist orders and civil penalties.
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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.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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.
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