Real Estate and Escrow Activities

ORS 696.870
Duties of real estate licensee under ORS 105.462 to 105.490, 696.301 and 696.870

(1)

(a) A real estate licensee representing a seller of real property has a duty to inform each represented seller of the seller’s duties created by this section and ORS 105.462 (Definitions for ORS 105.462 to 105.490) to 105.490 (Effect of ORS 105.462 to 105.490, 696.301 and 696.870 on rights and remedies) and 696.301 (Grounds for discipline).

(b)

A real estate licensee representing a buyer of real property has a duty to inform each represented buyer of the buyer’s rights under this section and ORS 105.462 (Definitions for ORS 105.462 to 105.490) to 105.490 (Effect of ORS 105.462 to 105.490, 696.301 and 696.870 on rights and remedies) and 696.301 (Grounds for discipline).

(2)

If a real estate licensee performs the duties set forth in subsection (1) of this section, the real estate licensee shall have no further duties under this section.

(3)

Notwithstanding subsections (1) and (2) of this section, for the purposes of ORS 696.301 (Grounds for discipline), a real estate licensee:

(a)

Representing a seller by written agreement or course of conduct is bound by the standards of conduct and duties created under ORS 696.805 (Real estate licensee as seller’s agent);

(b)

Representing a buyer by written agreement or course of conduct is bound by the standards of conduct and duties created under ORS 696.810 (Real estate licensee as buyer’s agent); and

(c)

Acting as a disclosed limited agent by a written agreement or course of conduct is bound by the standards of conduct and duties created under ORS 696.815 (Representation of both buyer and seller). [1993 c.547 §6; 2001 c.300 §50]
Note: See note under 696.800 (Definitions).
Chapter 696

Atty. Gen. Opinions

Sales of subdivision lots by mobile home salespeople, (1975) Vol 37, p 865; sales or offers of interests in limited partnerships to invest in real estate, (1978) Vol 38, p 1971

Source

Last accessed
Jun. 26, 2021

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