February Form of the Month: OREF C-558 Broker of Record Agreement

FORM OF THE MONTH

Are you a Commercial Principal Broker who has been contacted by an out-of-state agent requesting that you list a property and allow them to remain the agent?

The Broker Record of Agreement is your solution. This document creates an agreement between a Principal Broker and the out-of-state agent to allow them to work in Oregon under the supervision of the Principal Broker.

The agreement covers key aspects such as how long the arrangement lasts, the client the agent is working with, how the Brokerage will oversee the agent’s work in Oregon, and the agent’s
responsibilities under Oregon laws, including restrictions on showing properties.

Do you have an idea or suggestion for a new form or edits to existing forms? We want to hear from you! Submit your ideas to our Forms Committee here.

Always check with your principal broker or legal counsel to ensure that you are following any policy requirements of your brokerage. All comments and responses from OREF or its staff, managers, and volunteers are non-legal opinions made for general purposes. Each Forms subscriber must rely solely upon their Principal broker or personal legal counsel for specific advice and instruction. You and your client should independently confirm that the Form(s) you use are legally suitable for the purposes intended and that they are current with respect to all laws and regulations.