1. (1) This division applies to real estate brokers and principal real estate brokers, as those terms are defined by ORS 696.010.

2. (2) The purposes of this division are:

   1. (a) To specify the regulations for licensees engaged in professional real estate activities, as that term is defined in ORS 696.010;
   2. (b) To protect the owners, buyers, and sellers of real estate; and

   3. (c) To make the authorized principal broker responsible for establishing a system of recordkeeping that:

      1. (A) Provides the Agency with access to the licensees’ records and
      2. (B) Complies with the requirements contained in OAR chapter 863 and ORS Chapter 696.
3. (3) The Agency’s goal is to encourage real estate licensees to comply with the applicable statutes and implementing rules through education and, if necessary, through progressive discipline, as provided in OAR chapter 863, division 27.
4. (4) Section (3) of this rule does not limit the Agency’s authority to reprimand, suspend, or revoke a license pursuant to ORS 696.301 or assess civil penalties as authorized by 696.990.

Statutory/Other Authority

ORS 696.385

Statutes/Other Implemented

ORS 696.015

History

REA 4-2025, amend filed 10/09/2025, effective 01/01/2026
REA 1-2009, f. 12-15-09, cert. ef. 1-1-10
REA 6-2008, f. 12-15-08, cert. ef. 1-1-09