Real Estate Agency
Chapter 863
Division 15
REAL ESTATE BROKER REGULATION
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) 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 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 real estate broker or principal 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,
Statutory/Other Authority: ORS 696.385
Statutes/Other Implemented: ORS 696.800
History:
REA 1-2017, amend filed 11/17/2017, effective 01/01/2018
REA 6-2008, f. 12-15-08, cert. ef. 1-1-09
REA 1-2002, f. 5-31-02, cert. ef. 7-1-02, Renumbered from 863-010-0015
REC 1-1981, f. 10-30-81, ef. 11-1-81
REC 3-1978, f. 6-15-78, ef. 7-1-78
REC 20, f. 5-5-65, ef. 7-1-65