What terms does Oregon use instead of the license categories 'salesperson' and 'broker' used in most other states?
Correct Answer
B) 'Broker' and 'principal broker'
Oregon renamed its license categories in 2010: what most states call a 'salesperson' is called a 'broker' in Oregon, and what most states call a 'broker' is called a 'principal broker' in Oregon.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
The highest legal obligation of trust and confidence owed by an agent to their principal, requiring the agent to act solely in the principal's best interest.
An agency relationship where the agent agrees to act on behalf of the principal without receiving compensation.
An agency relationship created by the conduct or actions of the parties rather than by a written or oral agreement.
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