Oregon Broker Carlos negotiates a commission on a residential sale while his Oregon Broker license is expired. The transaction closes and the seller pays the commission. Under Oregon law, which of the following best describes the legal consequence for Carlos?
Correct Answer
B) Carlos must return the commission to the seller and may face disciplinary action from OREA for practicing without a license
Under ORS Chapter 696, a person must hold a valid, active Oregon real estate license to legally earn a commission or compensation for real estate brokerage activities. Practicing with an expired license constitutes unlicensed practice, and Carlos has no legal right to retain the commission. He may also face disciplinary action from OREA, including fines and potential denial of future license applications.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A trust account, also called an escrow account, is a separate bank account maintained by a broker to hold funds belonging to others, such as earnest money deposits, security deposits, or other client funds.
Advertising regulations govern how real estate licensees may market properties and services, requiring truthful, non-deceptive advertising that includes proper identification of the brokerage.
Antitrust violations in real estate occur when competing brokerages or agents engage in practices that restrain trade, reduce competition, or harm consumers through collusion. These violations are governed by the Sherman Antitrust Act and can result in severe penalties.
More Practice Of Real Estate Questions
In Wyoming real estate practice, an associate broker or salesperson is not associated with a responsible broker at renewal. What should the licensee remember?
In Wyoming real estate practice, a first-time salesperson applicant completes coursework. What should the licensee remember?
A Wyoming licensee is reviewing an out-of-state salesperson applicant prepares for testing. What is the best answer?
In Wyoming real estate practice, a salesperson applicant age is reviewed. What should the licensee remember?
A responsible broker in Wyoming asks about a nonresident applicant provides home-state evidence. Which answer follows Wyoming law?
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- → For the Wyoming salesperson state portion, a licensee asks how long Wyoming renewal periods are. Which statement is correct?
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