Under Oregon's Agency Relationships in Real Estate Transactions Act (ORS 696.800–696.890), which of the following is NOT a required element for a valid disclosed limited agency arrangement?
Correct Answer
D) The licensee must charge both parties an equal commission split as compensation
Oregon law (ORS 696.840) does not require that a disclosed limited agent charge both parties an equal commission split. Compensation arrangements are negotiable and are separate from the requirements for establishing a valid disclosed limited agency. The statute focuses on representation and consent, not on how compensation is divided.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The legal obligation to reveal information that could affect a party's decision to enter into or the terms of a real estate transaction.
The extent of power and actions an agent is authorized to perform on behalf of the principal, as defined by the agency agreement.
The fiduciary obligations owed by a listing agent to the seller, including marketing the property, presenting all offers, and protecting the seller's confidential information.
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