Agency
Under Oregon agency law, a 'disclosed limited agent' is a broker who:
ARepresents only buyers in limited-price-range transactions
BRepresents both seller and buyer in the same transaction with both parties' written consent✓ Correct
CWorks only in limited geographic areas
DHas a limited license restricted to residential property
Explanation
A disclosed limited agent (dual agent) in Oregon represents both the buyer and seller in the same transaction. This is only permissible with the written informed consent of both parties, after full disclosure of the limitation on the agent's duties.
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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.
Buyer's AgentA real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
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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