An Oregon real estate listing agreement is used by real estate brokers to establish a working relationship with property owners, authorizing them to sell their property on their behalf. The document details the manner in which the broker may advertise the property, what fixtures or personal property may be included in the sale, and if the broker has exclusive rights on the listing. The commission that the broker is entitled to upon the sale of the property is also detailed in the agreement and incentivizes the agent to get the highest possible price for the seller, making the agreement mutually beneficial.
- Laws – ORS 863-015-0130
- Dual Agency (§ 696.815) – Known as a “disclosed limited agency” in Oregon, a licensee may represent both buyer and seller under certain stipulations.
- Purchase Agreement – This document is used by a prospective buyer to put a bid on a seller’s property. If the seller accepts, both parties sign the document and the property ownership is transferred.
Initial Agency Disclosure Pamphlet (§ 696.820) – This informational pamphlet details the duties and responsibilities required by real estate agents representing their respective clients as buyers and sellers. All agents must provide a copy of this pamphlet to all potential clients at their initial meeting.
Property Disclosure Statement (§ 105.464) – This statement details information about the sellers’ property including all known defects and must be provided to any potential buyer who makes a written offer to purchase the property. If the seller fails to provide the buyer with the disclosure statement, the buyer has the right to revoke their offer at any time prior to closing.
Disclosed Limited Agency (Buyer) (§ 696.815) – A real estate agent may represent both buyer and seller in a “disclosed limited agency.” As a limited agent, they must not disclose certain information to the other parties without written permission and must follow the duties set out in ORS 696.805 and ORS 696.810. The buyer must fill out sign this form granting the agent this permission.
Disclosed Limited Agency (Seller) (§ 696.815) – A seller of a residential property may sign this document, thereby allowing the same real estate agent to represent both the seller and buyer in the real estate transaction.