OAR 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 the authorized 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.