(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.
Section: Previous 696.805 696.810 696.815 696.820 696.822 696.825 696.830 696.835 696.840 696.845 696.855 696.870 696.880 696.990 696.995 NextLast modified: August 7, 2008