Oregon law sets disclosure rules for real estate teams and clients

Team members must give clients a disclosure before they sign a written representation or listing agreement. The disclosure names team members and their roles, says whether they are licensed, identifies any team supervisors, and names the managing broker and brokerage. The Real Estate Agency sets the disclosure method and form by rule.

A team member must be a principal broker to supervise or control other team members. This applies to team members who supervise or control other team members. A supervisor who is not the managing principal broker must have a written supervisory agreement with that broker.

A real estate team may not work for clients with overlapping interests unless it first enters into a disclosed limited agency agreement. This applies when the team already represents another buyer or seller in the same transaction, or already represents a buyer seeking the same property. The agreement must include the buyer and seller when the team represents both in the same transaction, or the buyers when they want the same property.

A real estate team name may not include “realty” or “real estate,” or match the registered business name. The restriction applies to real estate team names. The amendments containing this naming rule become operative on July 1, 2027.