Oregon broker Lisa enters into a written buyer's agency agreement with purchaser Alex. Lisa shows Alex a property listed by a different brokerage. The listing broker, working for the seller, offers to cooperate and pay a buyer's agent commission through the MLS. Which statement accurately describes the agency relationships in this transaction under Oregon law?
Correct Answer
B) Lisa represents Alex as a buyer's agent, and the listing broker represents the seller; each party has their own agent with no disclosed limited agency required
Under ORS 696.800–696.890, when two different brokerages are involved—one representing the seller and one representing the buyer—this is a straightforward co-brokerage transaction. Each licensee represents their own client. Lisa is Alex's buyer's agent, and the listing broker is the seller's agent. There is no disclosed limited agency because no single licensee (or brokerage) is representing both parties. Disclosed limited agency is only triggered when the same licensee or brokerage represents both buyer and seller.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An arrangement where a brokerage assigns separate agents within the firm to represent the buyer and seller in the same transaction, allowing each client to have dedicated representation.
A situation where a single agent or brokerage represents both the buyer and the seller in the same real estate transaction.
An agency relationship created by a clear, explicit agreement between the principal and agent, either orally or in writing.
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