Most transactions don’t require OREF 091 – Notice of Real Estate Compensation. In fact, it’s designed for one very specific situation: when there is concern that a client may instruct escrow to pay an amount of compensation different from what the agent’s firm believes it is entitled to receive.
That’s why it’s important to understand when to use OREF 091—and when not to.
In this Featured Form video, we’ll explain the purpose of the form, how it differs from OREF 113 – Buyer’s Agent Instructions to Escrow and OREF 114 – Seller’s Agent Instructions to Escrow, and review the requirements of ORS 696.582 that govern its use.
Whether you’re encountering OREF 091 for the first time or simply want a refresher, this training will help you confidently identify when the form applies and avoid using it when another form is more appropriate.
Watch the Featured Form video to learn when OREF 091 should be used and the best practices for completing it correctly.
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.
