ORS 696.022

Topic Progress:

1. Real Estate Agency is to establish system for licensing real estate brokers, principal real estate brokers and real estate property managers

2. “Sole practitioner” category was eliminated

3. Real Estate Agency system for licensing includes:

  • Application process
  • Examination process
  • Schedule and procedures for issuing and renewing licenses
  • Term of a license in each category
  • Terms and conditions under which license must be returned (inactivity, suspension, or termination)

4. Real estate broker may not employ, engage or supervise the professional real estate activity of another real estate licensee EXCEPT that a real estate broker with 3 years active experience can temporarily supervise for up to 90 days due to: (i) unforeseen circumstances, or (ii) temporary absence of sole principal real estate broker

5. OAR 863-014-0090

  • “Sole principal real estate broker” means a principal real estate broker who conducts professional real estate activity not in conjunction with other principal real estate brokers.
  • “Supervise” includes supervising the professional real estate activity of any real estate brokers and property managers associated with the sole principal real estate broker.  It does NOT include conducting professional real estate activity in conjunction with any other principal real estate broker.
  • A real estate broker who is associated with a sole principal broker may temporarily supervise the sole principal broker’s professional real estate activity only if:
    • Sole principal broker provides written authorization
    • Real estate broker accepts supervisory responsibility in writing
    • Real estate broker must have at lease 3 years of active experience as a real estate broker
    • Real estate broker affirms subject to all rules imposed on a principal real estate broker
    • Affirms 90 day time limit
    • Written authorization must be filed with the Real Estate Agency

6. Qualifications for real estate broker license:

  • High school diploma or GED
  • Successfully complete “approved” real estate broker course
    • OAR 863-022-0010 contains course requirements
    • Describes who are approved providers
    • Describes required course topics and hours for each topic
  • Pass real estate broker exam

7. Principal real estate broker may (but is not required to) supervise others

8. Qualifications for principal real estate broker license:

  • Must meet all the requirements for a real estate broker license
  • 3 years active experience as a licensed real estate broker (OAR 863-014-0042 allows the Real Estate Agency to waive strict compliance with this experience requirement in certain circumstances)
  • Successfully complete “approved” principal real estate broker course on brokerage administration and sales supervision.  This is a 40 hour course and the topic requirements of this 40 hour course are at OAR 863-022-0025.
  • Pass principal real estate broker exam

9. Qualifications for real estate property manager license:

  • High school diploma or GED
  • Successfully complete “approved” course in legal aspects of real estate, real estate property management and accounting, bookkeeping and trust accounting practices
    • OAR 863-022-0015 contains course requirements
    • Describes who are approved providers
    • Describes required course topics and hours for each topic
  • Pass real estate property manager exam
  • Licensee must be trustworthy and competent to conduct professional real estate activity in a manner than protects the public interest (includes fingerprints and criminal offender checks).
  • Licensee must be 18 or older

10. OAR 863-014-0010

  • License application must contain:
  • Legal name, mailing address and phone number
  • If applicant is associated with a principal real estate broker, the name of the principal real estate broker who will supervise applicant’s professional real estate activity
  • Places (including address) where business will be conducted
  • If applicant will be associated with a principal real estate broker, the principal real estate broker’s authorization for the applicant to use the principal real estate broker’s registered business name.

12. OAR 863-014-0030

  • Licensee may hold only 1 type of OR real estate license at any time
  • License expires on the last day of the month of a licensee’s birth month
  • Term of license is 24 months

13. OAR 863-014-0050

  • A licensee may not engage in professional real estate activity after a license expires
  • License expires if fail to renew prior to expiration date
    To renew, must:

    • Meet continuing education requirements
    • Pay renewal fee
    • Different rules exist to renew:
      • inactive to inactive
      • inactive to active
      • expired to active
      • expired to inactive
  • If expired for more than 1 year, license “lapses” and cannot be renewed
  • Can’t renew a lapsed, suspended, surrendered or revoked license