Agency
What is a 'subagency offer' from a listing in the MLS and how has it changed in Oregon practice?
AAn offer from the MLS to share the listing with other brokerages
BAn offer of compensation to cooperating brokers who act as subagents of the seller — largely replaced by buyer agency in Oregon practice✓ Correct
CAn offer for buyers to represent themselves
DAn OREA-required disclosure about agency options
Explanation
Historically, MLS offers of cooperation included subagency — where cooperating brokers acted as subagents of the seller, owing duties to the seller not the buyer. Oregon has moved predominantly to buyer agency, where cooperating brokers represent the buyer.
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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.
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.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
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