Agency
Under Oregon law, a buyer's broker agreement should specify:
AOnly the property address the buyer wants to purchase
BThe term of the agreement, geographic area, type of property, compensation, and broker's duties✓ Correct
CThe maximum price the buyer will pay
DThe seller's motivations
Explanation
A buyer representation agreement in Oregon should clearly specify: the term (duration) of the agreement, the geographic area covered, the type of property sought, how and when the broker is compensated, the parties' rights and obligations, and the extent of the broker's duties (including agency duties). A well-drafted agreement protects both the buyer and broker and avoids disputes about compensation.
Related Oregon Agency Questions
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