Oregon License Law
The Oregon Real Estate Agency's primary source of funding is:
AGeneral fund appropriations from the Oregon legislature
BLicense fees and civil penalties collected from licensees✓ Correct
CGrants from the National Association of REALTORS
DTransaction fees charged on every closed real estate sale
Explanation
OREA is a self-funding agency — its operations are funded primarily by license fees and civil penalties collected from licensees. OREA does not receive general fund appropriations from the state legislature.
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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.
Transfer TaxA tax imposed by state or local governments when real property ownership is transferred, typically based on the sale price.
Fair Housing ActFederal law prohibiting discrimination in the sale, rental, or financing of housing based on race, color, national origin, religion, sex, disability, and familial status.
State-Specific Concepts
License Law
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