Agency
What is a 'net listing' in Oregon, and what is OREA's position on it?
AA listing where the seller receives a guaranteed net price; OREA encourages its use
BA listing where the broker's compensation is the amount exceeding the seller's minimum price; prohibited under Oregon law due to conflict of interest✓ Correct
CA listing where all proceeds go to the seller; the broker receives a flat fee
DA listing required for commercial properties only
Explanation
A net listing sets a minimum price for the seller; any amount above that minimum is the broker's compensation. Net listings are prohibited under Oregon law (ORS 696.
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Key Terms to Know
Fiduciary Duty
The highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
AgencyA 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.
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