Agency
Which type of agency relationship is created when an Oregon broker is appointed in a listing agreement to sell a property?
AGeneral agency
BUniversal agency
CSpecial (limited) agency✓ Correct
DPower of attorney
Explanation
A listing agreement typically creates a special (limited) agency, in which the agent is authorized to perform specific acts — primarily to find a buyer for the property — not to act broadly on the principal's behalf in all matters.
People Also Study
Related Oregon Questions
- Under Oregon law, which of the following is a characteristic of a special agency relationship created by a listing agreement?Agency
- When does an Oregon listing agency relationship with a seller automatically terminate?Agency
- An Oregon buyer hires a broker to help find a property. Without a written buyer representation agreement, the relationship is best described as:Agency
- Oregon permits 'limited dual representation' (disclosed limited agency). What specific limitation on duties does this create?Oregon License Law
- In Oregon, 'ministerial acts' that do NOT create an agency relationship include:Agency
- The Oregon Real Estate Agency Commissioner is appointed by:Oregon License Law
- The Oregon Real Estate Agency Real Estate License Law is codified primarily under:Oregon License Law
- In Oregon, which clause in a listing agreement gives the broker the right to a commission if the property is sold within a specified period after the listing expires?Contracts
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.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Study This Topic
Practice More Oregon Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Oregon Quiz →