What You Need to Know About The Oregon Real Estate Agency Disclosure Pamphlet

Posted on: October 11, 2007

Click here to view the Oregon Real Estate Agency Disclosure Pamphlet.

In Oregon, all those holding a real estate sales license have completed the educational credits to become a broker; brokers are licensed under principal brokers, or after three years of active practice a broker may be licensed as a sole practitioner. Brokers are required to complete 30 additional educational hours every 2 years to keep them current with regulations and changes in this dynamic industry.


The Oregon Real Estate Agency requires all Oregon brokers to share the Agency Disclosure Pamphlet with clients at substantive first contact; it covers the duties and responsibilities of Oregon Real Estate brokers and explains how agency relationships affect you. An agency relationship is created when you ask a licensed real estate broker to help you buy or sell a house. Below is a shot of the first page of Oregon’s standard Earnest Money Agreement (Sale Agreement). You will notice the broker’s agency is shown and the buyer and seller both sign to acknowledge their representation.

Different types of agency relationships are created when the broker, or principal broker, represents the interests of more than one party. In each transaction, you will be represented as a buyer or seller. A broker has certain duties and responsibilities his/her clients while representing the client’s interest. These are listed in the Agency Disclosure Pamphlet, but generally these cover being loyal to the client’s interest first, acting honestly and in good faith, exercising reasonable care and due diligence, and disclosing material facts. I encourage you to read this section of the pamphlet to familiarize yourself with all 10 duties and responsibilities.

There can be situations where your broker is representing more than one party’s interest (a buyer and seller) in a single transaction, which is called dual agency. If you purchase one of your agent’s listings, then dual agency exists and you be given a choice to continue utilizing your broker’s services by signing a Disclosed Limited Agency Agreement, or you could decline and find another broker to negotiate for you in the transaction. If you purchase a property listed with your broker’s firm then the principal broker will be a dual agent because he will be privy to confidential information of both parties and counseling both agents during the negotiation process; if this is the case, you will also be notified, explained your rights, and you will sign a Disclosed Limited Agent Agreement if you choose to continue. The pamphlet covers the duties and responsibilities of agents acting under Disclosed Limited Agency.

Knowing how your rights are being represented is important; and, can directly affect your ability to receive damages if you are unhappy with any part of the transaction. Beware of buying a home from a listing agent at an open house. In most cases, the listing agent will tell you she represents the interests of the seller and does not represent your interests in the transaction; when she fills out the Earnest Money Agreement with you, she will put her name on line 7 and check the box for representing the seller exclusively. You will sign under on the buyer line, in effect admitting you have no representation in the transaction. Be aware she does not represent you in the negotiation, nor is she responsible to offer you her professional advice.

If you find this confusing, either talk to your broker or contact me. We are happy to spend more time explaining it.

Written by Heidi Aspinwall, Broker for PortlandRealEstate.com.