RESIDENTIAL
INITIAL AGENCY DISCLOSURE PAMPHLET OAR 863-015-0215 (5) 1 2 3 4
This pamphlet describes the legal obligations of real estate agents in Oregon. Real estate agents must provide this information to you when they have sufficient contact information for you, unless they reasonably believe you already have a copy. This pamphlet is informational only. Neither the pamphlet nor its delivery to you should be interpreted as evidence of intent to create an agency relationship between you and a real estate agent or a principal broker.
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As used in this pamphlet, “principal broker” means a real estate agent authorized to control and supervise the professional real estate activity of other agents.
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Real Estate Agency Relationships
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An "agency" relationship is a voluntary legal relationship in which a licensed real estate agent, agrees to act on behalf of a buyer or a seller (the "client") in a real estate transaction.
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Oregon law provides for three types of agency relationships between real estate agents and their clients:
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Seller's Agent - Represents the seller only; Buyer's Agent - Represents the buyer only; and Disclosed Limited Agent - Represents both the buyer and seller, or multiple buyers who want to purchase the same property. Representation of more than one client in the same transaction can be done only with the written permission of all clients. When different agents associated with the same firm establish agency relationships with different parties in the same transaction, the principal broker authorized to control and supervise the agents (“Authorized Principal Broker”), the principal broker responsible for the firm (“Managing Principal Broker”), and other agents may be Disclosed Limited Agents, depending on the specific situation: 1.
Agent(s) in the Same Firm Representing Different Parties. When one or more agents associated with the same firm establish agency relationships with different parties in a transaction, the firm’s Managing Principal Broker is the Disclosed Limited Agent of all parties. The Authorized Principal Broker of an agent involved is a Disclosed Limited Agent of the agent’s client.
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Agents Supervised by the Same Authorized Principal Broker Representing Different Parties. If (a) more than one of a firm’s agents are involved in a transaction, (b) those agents are representing different parties, and (c) those agents are supervised by the same Authorized Principal Broker, then the Authorized Principal Broker is the Disclosed Limited Agent of the agents’ clients.
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Agent(s) Supervised by the Same Authorized Principal Broker Representing More than One Party. If one or more of a firm’s agents who are supervised by the same Authorized Principal Broker establish agency relationships with more than one client in a transaction, the agent(s) and the agent’s Authorized Principal Broker are Disclosed Limited Agents of those clients.
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Team Member(s) Representing More than One Party. If one or more members of the same real estate team represent more than one party in a transaction, all members of the real estate team, the team’s Authorized Principal Broker and the firm’s Managing Principal Broker are Disclosed Limited Agents of those parties.
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The agents who are not Disclosed Limited Agents represent only the buyer or seller with whom they have already established an agency relationship unless all parties agree otherwise in writing.
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The actual agency relationships between the seller, buyer and their agents in a real estate transaction must be acknowledged at the time an offer to purchase is made. Please read this pamphlet carefully before entering into an agency relationship with a real estate agent.
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Definition of “Confidential Information”
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Generally, agents must not disclose confidential information about their clients. “Confidential information” is information communicated to the agent or the agent’s firm by the buyer or seller of one to four residential units regarding the real property
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LINES WITH THIS SYMBOL REQUIRE A SIGNATURE AND DATE OREF 042 | Released 01/2026 | Page 1 of 3 No portion of this form may be reproduced without the express permission of Oregon Real Estate Forms, LLC | Copyright Oregon Real Estate Forms, LLC 2022 This form has been licensed for use solely by the user named below under the terms of the Oregon Real Estate Forms license agreement located at: https://orefonline.com/oref-forms-license-terms-and-conditions.
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