Key Takeaways
- The Initial Agency Disclosure Pamphlet must be provided at first contact with any consumer
- The pamphlet explains the types of agency relationships available in Oregon
- Licensees must provide the pamphlet before any substantive discussions about real estate needs
- A licensee need not provide the pamphlet if the consumer has already received one from another licensee
- The pamphlet is published by OREA and cannot be modified by licensees
Initial Agency Disclosure Pamphlet
The Initial Agency Disclosure Pamphlet is a mandatory disclosure document required by Oregon law (ORS 696.820) that must be provided to all consumers in real estate transactions.
Purpose of the Pamphlet
The Initial Agency Disclosure Pamphlet:
- Explains the types of agency relationships available in Oregon
- Describes the duties licensees owe to clients and customers
- Helps consumers make informed decisions about representation
- Documents that disclosure was made
Key Point: The pamphlet is created and published by OREA. Licensees cannot modify it.
When to Provide the Pamphlet
The pamphlet must be provided:
- At first contact with a prospective party to a real property transaction
- Before any substantive discussions about real estate needs
- At first contact with an unrepresented party seeking representation
Timing Guidelines
| Situation | When to Provide |
|---|---|
| Listing presentation | At or before first meeting |
| Buyer inquiry | Before discussing needs or finances |
| Open house | Before substantive conversation |
| Phone/email inquiry | Before discussing specific properties |
| Referral | Before any substantive discussion |
When the Pamphlet is NOT Required
A licensee need not provide the pamphlet if:
- The consumer has already received a copy from another licensee
- The consumer may be reasonably assumed to have received a copy
Best Practice: When in doubt, provide the pamphlet. It's better to give it twice than not at all.
Pamphlet Contents
The Initial Agency Disclosure Pamphlet explains:
Agency Relationships Described
| Relationship | Explanation in Pamphlet |
|---|---|
| Seller agency | Agent represents seller only |
| Buyer agency | Agent represents buyer only |
| Disclosed limited agency | Agent represents both parties |
Duties Explained
| To Clients | To All Parties |
|---|---|
| Loyalty | Honesty |
| Confidentiality | Fair dealing |
| Disclosure of material facts | Disclosure of material facts |
| Obedience | Reasonable skill and care |
| Accounting | |
| Reasonable care |
Documentation Requirements
| Requirement | Details |
|---|---|
| Provide pamphlet | Required at first contact |
| Obtain signature | Not required, but recommended |
| Keep records | Document when pamphlet was provided |
| Pamphlet version | Must use current OREA version |
Consequences of Non-Compliance
Failing to provide the Initial Agency Disclosure Pamphlet can result in:
- OREA disciplinary action
- License suspension or revocation
- Civil liability
- Transaction disputes
Exam Tip: The Initial Agency Disclosure Pamphlet is one of the most frequently tested topics on the Oregon state exam.
Getting the Pamphlet
Licensees can obtain the Initial Agency Disclosure Pamphlet from:
| Source | Details |
|---|---|
| OREA website | oregon.gov/rea |
| Principal broker | Usually provides copies |
| Real estate associations | May distribute to members |
When must an Oregon licensee provide the Initial Agency Disclosure Pamphlet?
Who publishes the Initial Agency Disclosure Pamphlet in Oregon?