Contracts
Under Oregon law, a listing agreement is binding on the seller even if the seller discovers the broker misrepresented the property's value to secure the listing. The seller's remedy is to:
AContinue with the listing and sue the broker afterward
BRescind the listing agreement based on the misrepresentation✓ Correct
CReduce the asking price to the broker's actual estimate
DFile a complaint with OREA but continue the listing
Explanation
A listing agreement obtained through misrepresentation (such as an inflated CMA to get the listing) is voidable by the seller. The seller can rescind the listing agreement on grounds of fraud or misrepresentation, and may also file a complaint with OREA against the broker.
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