A disclosed limited agent in Oregon:
Question & Answer
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Represents only the seller
An agent representing only the seller is a seller's agent with full fiduciary duties to the seller — this is the opposite of disclosed limited agency, which by definition involves representation of both parties simultaneously.
Represents both parties with limited duties and consent
Is not permitted
Disclosed limited agency is explicitly permitted and regulated under Oregon law (ORS § 696.845) — it is not prohibited. Oregon has created a detailed statutory framework specifically to allow and govern this type of dual representation.
Works only on commercial properties
Oregon's disclosed limited agency statute applies to all types of real estate transactions, including residential properties — there is no restriction limiting this agency relationship to commercial properties only.
Why is this correct?
Under Oregon Revised Statutes § 696.845, a disclosed limited agent is specifically defined as a licensee who represents both the buyer and seller in the same transaction with the written consent of both parties and with reduced fiduciary duties to each. The written consent requirement ensures that both parties knowingly and voluntarily waive their right to undivided loyalty before the agency relationship changes. Oregon's framework is distinctive in that it uses the term 'disclosed limited agent' rather than the more commonly used term 'dual agent,' but the legal concept — bilateral representation with consent and limited duties — is functionally equivalent.
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