Updated December 27, 2022
An Oregon buyer agency agreement is a contract that enables a real estate broker to represent a buyer of real estate. The document will relay the terms and conditions of the representation, including commission, applicable brokerage fees, duties and responsibilities of each party, and what should occur in the case of a conflict of interest. As a buyer’s representative, the agent is legally required to deal in good faith, negotiating the best price for their client despite the fact that their commission will come out of the sale price.
Disclosures
Agency Disclosure Pamphlet (§ 696.820) – This information pamphlet must be delivered to all buyers and sellers of real estate before representation can legally occur. The delivery of the pamphlet should be seen as strictly informational and not construed to represent an intent to create an agency relationship.