OAR 863-015-0143: Real Estate Team Disclosure

(1) For purposes of this rule, “at first contact” means at the time the agent has sufficient contact information about a person to be able to provide a real estate team disclosure to that person. Contact with a person includes, but is not limited to contacts in person, by telephone, over the Internet, by electronic mail, or by similar methods. (2) A member of a real estate team must provide a copy of the real estate team disclosure, which complies with section (5) of this rule, at first contact with: (a) A prospective party to a real property transaction; or (b) An unrepresented party seeking representation during the course of a real property transaction. (3) A member of a real estate team must provide the real estate team disclosure in a written format by email, over the Internet, by USPS mail, facsimile, hand delivery or similar delivery method. (4) A member of a real estate team does not need to provide a copy of the real estate team disclosure to a party who has received a copy of the disclosure from another member of the same team. (5) The real estate team disclosure must contain: (a) The name and role of each member of the real estate team; (b) Whether individual members of the real estate team are real estate licensees; (c) The name of any members of the real estate team responsible for supervision and control of some or all members of the real estate team, if any; (d) The name of the managing principal broker with whom the real estate licensees on the real estate team are associated, (e) A statement that the real estate team is a subdivision of the registered business name; and (f) A statement to the effect that the real estate team must have a disclosed limited agency agreement in place before any members of the real estate team may perform any professional real estate activities for a buyer or seller when the real estate team already represents : (A) Another buyer or seller in the same real estate transaction; or (B) Another buyer who wants to purchase the same property. (6) The Real Estate Agency will make available a sample of a real estate team disclosure that complies with section (5) of this rule on the Agency’s website.