1. (1) The Agency will issue a real estate license to an applicant after determining that the applicant meets the license requirements contained in ORS 696.022 and 696.790, has paid
2. (2) A licensee may engage in professional real estate activities allowed for that license by ORS Chapter 696 and OAR chapter 863 from the date the license is issued until the license expires, becomes inactive, or is revoked, surrendered, or suspended.

3. (3) A licensee may hold only one of the following Oregon real estate licenses at any time:

   1. (a) Real estate broker;
   2. (b) Principal real estate broker;
   3. (c) Real estate property manager; or
   4. (d) Timeshare sales agent
4. (4) The license expiration date is the last day of the licensee's birth month.

5. (5) The Agency issues an initial license for a term determined by the licensee’s birth month and license issuance date. The initial license term is at minimum 13 months and at most 24 months and 30 days.

   1. (a) If the license is not issued in licensee’s birth month, the initial license term will start on the license issue date and end 12 months after first occurrence of the last day of the licensee's birth month.
   2. (b) If the license is issued in the licensee’s birth month, the initial license term starts on the license issue date and ends 24 months after the first occurrence of the last day of the licensee's birth month.
6. (6) The Agency will renew an active or inactive license for a term of 24 months from the last license expiration date.
7. (7) The Agency will renew an expired license under OAR 863-035-0070 for a term that will start on the license renewal date and end 24 months from the last license expiration date.

8. (8) The license will include the following information:

   1. (a) The licensee’s legal name;
   2. (b) The license number and expiration date;
   3. (c) The registered business name under which the licensee conducts professional real estate activity;
   4. (d) The licensee's business address;
   5. (e) The seal of the Real Estate Agency; and
   6. (f) Any other information the Agency deems appropriate.

Statutory/Other Authority

ORS 696.385 & ORS 696.022

Statutes/Other Implemented

HB 2373, 2025 Regular Session

History

REA 5-2025, adopt filed 12/22/2025, effective 01/01/2026