- “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.