Wednesday, February 6, 2013

Oregon Real estate agent --investing laws?

Oh, excuse me....you must disclose your status as a licensened agent upon the first opportunity. If you'r talking football scores at a cafe, no need for disclosure, mention real estate and you should disclose.
If you are a Realtor, read your code of ethics as a Realtor.

You need to make it crystal clear if you are buying or dealing on your own as opposed to representing another party.

You may be required by your broker or RE commission to use only the Realtor contracts, you will need to do so and then you can use addendums to modify to your needs. I suggest you see your broker and run the contracts by them on each deal, if you want to keep your license with them. The broker is responsible for your dealings whenever your license may be connected to ant transaction you do.

Your broker may want a fee for deals if they go through the office, this may be a good thing as you will likely have E&O coverage on a per deal basis, so check on that.

You certainly have the right to buy or sell on your own, but your license is held by your broker, so they may have a say in how you conduct business. Good luck...

Source: http://www.biggerpockets.com/forums/21/topics/82616-oregon-real-estate-agent---investing-laws

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