2015 Oregon Revised Statutes
Volume : 15 - Occupations
Chapter 696 - Real Estate and Escrow Activities
Section 696.870 - Duties of real estate licensee under ORS 105.462 to 105.490, 696.301 and 696.870.
(1)(a) A real estate licensee representing a seller of real property has a duty to inform each represented seller of the seller’s duties created by this section and ORS 105.462 to 105.490 and 696.301.
(b) A real estate licensee representing a buyer of real property has a duty to inform each represented buyer of the buyer’s rights under this section and ORS 105.462 to 105.490 and 696.301.
(2) If a real estate licensee performs the duties set forth in subsection (1) of this section, the real estate licensee shall have no further duties under this section.
(3) Notwithstanding subsections (1) and (2) of this section, for the purposes of ORS 696.301, a real estate licensee:
(a) Representing a seller by written agreement or course of conduct is bound by the standards of conduct and duties created under ORS 696.805;
(b) Representing a buyer by written agreement or course of conduct is bound by the standards of conduct and duties created under ORS 696.810; and
(c) Acting as a disclosed limited agent by a written agreement or course of conduct is bound by the standards of conduct and duties created under ORS 696.815.
[1993 c.547 §6; 2001 c.300 §50]
Note: See note under 696.800.
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