Or. Admin. R. 863-015-0130

Current through Register Vol. 63, No. 6, June 1, 2024

Section 863-015-0130 - Listing Agreements

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

(2) Every listing agreement must meet the following requirements:

(a) It must state an expiration date;

(b) It may not contain a provision requiring the seller signing the listing to notify the licensee of the individual's intention to cancel the listing after the stated, definite expiration date;

(c) It may not contain a 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 broker after the first or preceding listing agreement expires or is terminated by mutual agreement; and

(d) It must be signed by all parties to the agreement,

Or. Admin. R. 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

Stat. Auth.: ORS 696.385

Stats. Implemented: ORS 696.280 & 696.800