This office lease provision states that the landlord and tenant each warrant and represent to the other party that there was no broker, finder or similar person, other than those listed, entitled to a commission, fee or other compensation, instrumental in consummating the lease. It also states that no conversations or prior negotiations were had by the landlord or tenant, respectively, or anyone acting on behalf of the landlord or the tenant, respectively, with any broker, finder or similar person, other than those listed, concerning the renting of the demised premises.
Oregon Lease Provisions Relating to Brokers
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FAQ
It is against Oregon and Washington law to pay a commission to a person who does not have an active real estate license at the time they give a referral. All of our ERS agents are active licensees, and, as such, are able to receive referral fees.
Steve Strode - Real Estate Commissioner - Oregon Real Estate Agency | LinkedIn.
Property managers are brokers and principal brokers as well as property managers managing rental real estate. To qualify, the property manager must: Be licensed by the Oregon Real Estate Agency. Manage rental real estate.
(1) Unless all parties to the transaction agree in writing to delegate the closing function to an escrow agent licensed in Oregon, an attorney, or another principal broker engaged in the transaction, a principal broker must promptly close any real estate transaction in which the principal broker is the listing broker.
ORS 696.290 discusses the sharing of compensation, including the following: (2) A real estate broker associated with a principal real estate broker may not accept compensation from any person other than the principal real estate broker with whom the real estate broker is associated at the time.
A principal broker is responsible for all the other brokers in their office. A seller agent represents the seller only, while a buyer agent represents the buyer only. A disclosed limited agent represents both the buyer and seller in the same office, or multiple buyers who are interested in buying the same property.
ORS Chapter 696 ? Real Estate and Escrow Activities.
