OAR 863-015-0150: Closing Real Estate Transactions

(1) Unless all parties to the transaction agree in writing to delegate the closing function to an escrow agent licensed in Oregon, an attorney, or another authorized principal broker engaged in the transaction, a n authorized principal broker must promptly close any real estate transaction in which the authorized principal broker is the listing broker. (2) A real estate broker associated with a n authorized principal broker may handle a closing function only if authorized in writing by the authorized principal broker and only under the authorized principal broker’s direct supervision. A copy of the written authorization bearing the authorized principal broker's signature must be maintained in the transaction file.