|Limits choice of brokerage services|
|Prohibits brokers from offering rebates to consumers|
Oregon law requires real estate brokers to present written offers, written notices, and other written communications to and from the parties in a timely manner, even if consumers do not wish to buy these services.
Oregon law prohibits real estate brokers from paying part of their commission to unlicensed persons. As a result, because consumers do not have real estate licenses, Oregon law prevents them from receiving rebates. Oregon consumers are unable to benefit from rebates that consumers in other states may receive.
In the 2007 legislative session, Senate Bill 673 was introduced, addressing the ability of brokers to offer rebates. The legislative session ended without passage of SB 673.
Learn more about:
Brokerage services: Discount Brokers Can Make Selling a Home Less Costly
Related documents on the Internet:
Oregon Revised Statute § 696.290(1) prohibiting the payment of rebates
Oregon State Statutes §696.805, §696.810 requiring real estate brokers “to present all written offers, written notices and other written communications to and from the parties in a timely manner without regard to whether the property is subject to a contract for sale or the buyer is already a party to a contract to purchase.” This requirement is not waivable.