Or. Admin. Code § 863-015-0130

Current through Register Vol. 64, No. 1, January 1, 2025

Section 863-015-0130 - Listing Agreements

(1) A real estate broker or principal broker who enters into a listing agreement, as defined by ORS 696.800, must give the seller signing the listing agreement a true, legible copy of the signed listing agreement at the time of securing the listing.

(2) In addition to the requirements contained in ORS 696.805, listing agreements must also include:

(a) An expiration date;

(b) The licensee's license number;

(c) A statement of whether the agreement is exclusive or nonexclusive;

(d) Name and contact information, including telephone number for a principal broker responsible for supervision of the broker; and

(e) Signatures by all parties to the agreement.

(3) Listing agreements are prohibited from containing the following:

(a) Any provision requiring the seller to notify the licensee of the individual's intention to cancel the listing after the stated, definite expiration date;

(b) Any provision subjecting the seller of the listed property to the payment of two or more commissions for one sale if the seller lists the same property with a second or subsequent real estate broker or principal broker after the first or preceding listing agreement expires or is terminated by mutual agreement.

Or. Admin. Code § 863-015-0130

REC 20, f. 5-5-65, ef. 7-1-65; REC 3-1978, f. 6-15-78, ef. 7-1-78; REC 1-1981, f. 10-30-81, ef. 11-1-81; REA 1-2002, f. 5-31-02, cert. ef. 7-1-02, Renumbered from 863-010-0015; REA 6-2008, f. 12-15-08, cert. ef. 1-1-09; REA 1-2017, amend filed 11/17/2017, effective 01/01/2018; REA 2-2024, amend filed 12/12/2024, effective 1/1/2025

Statutory/Other Authority: ORS 696.385

Statutes/Other Implemented: ORS 696.800