“Real estate marketing activity” means procuring or offering to procure prospects to purchase, sell, lease or rent real estate by telemarketing, mail or otherwise.
Person may not engage in real estate marketing activity unless person is licensed as a licensed by the Real Estate Agency (this could be as a real estate broker/principal broker/property manager or as provided in ORS 696.606).
No person may employ an individual as a real estate marketing employee unless the person registers such individual with the Real Estate Agency as the employee of the real estate marketing organization before the individual commences a real estate marketing activity.
One act or transaction of real estate marketing activity is sufficient to constitute engaging in real estate marketing.
Real Estate Agency may license real estate marketing organizations and establish rules regarding:
Procedures for submitting application
Term of the license and the fees
Registration requirements regarding the real estate marketing employees employed by the licensee
Actions that constitute failure to achieve or maintain licensing or competency
Activities of principals of organization that constitute a danger to the public interest
Licenses for real estate marketing organizations only will be granted if the principal persons of the organization are trustworthy and competent to conduct real estate marketing activities in such a manner as to safeguard the interests of the public.
Real Estate Agency to require finger prints and criminal checks.
Applicant must deposit a surety bond with the Real Estate Agency in the amount of $35,000.
Real Estate Agency may suspend or revoke the license of any real estate marketing organization or reprimand any licensee or deny the issuance or renewal of a license to an applicant who has done any of the following:
Knowingly or negligently pursued a course of material misrepresentation in matters related to real estate marketing activity, whether or not damage or injury resulted.
Knowingly or negligently made any material misrepresentation or material false promise in any matter related to real estate marketing activity, if the material misrepresentation or material false promise created a reasonable probability or damage or injury, whether or not damage or injury resulted.
Failed to account for or to remit any $$ or to surrender to the rightful owner any documents or other valuable property that belongs to others.
Guaranteed future profits that may result from the resale of real property.
Failed or refused on demand to produce or supply true copies of any document, book or record for inspection.
Failed to register and maintain current and accurate names and other info regarding each real estate marketing employee employed by such licensee.
Procured or attempted to procure a real estate marketing license by fraud, misrepresentation or deceit.
Failed to exercise supervision over the activities of real estate marketing employees.
Engaged in any act or conduct that constitutes or demonstrates bad faith, incompetence, untrustworthiness or dishonest, fraudulent or improper dealings.
Real Estate Agency will publish info of violation in local newspaper.
If unlicensed, can’t maintain a court action arising out of real estate marketing activity.
Real Estate Agency can conduct an on-site inspection and charge $200/day for its costs.