Guides / Buyer-Agent Agreements / Oregon

Buyer-Agent Agreements in Oregon

Oregon is NOT a pure "rely-on-NAR-settlement/MLS-rule" state like New York. Oregon passed its own state statute — House Bill 4058 (2024), codified as Oregon Laws 2024 Chapter 3, amending ORS 696.810 and related provisions — which independently mandates written buyer representation agreements, joining states like Texas (SB 1968) and California (AB 2992) that codified their own requirements beyond the national NAR settlement baseline. The law took effect January 1, 2025, requiring any real estate licensee (broker or principal broker) representing a buyer in a residential transaction involving land or 1-4 dwelling units to enter into a written buyer representation agreement before, or as soon as practicable after, beginning to assist the buyer in searching for or purchasing property. Commercial transactions and properties with five or more residential units are exempt, and buyers may still tour open houses without a signed agreement. The Oregon Real Estate Agency (the state regulator) has issued official guidance and FAQs confirming and interpreting these requirements, which operate independently of (though in general alignment with) the August 2024 NAR settlement's MLS-participation rule changes on compensation offers and buyer-agent agreements.

Oregon House Bill 4058 (2024) / Oregon Laws 2024, Chapter 3 — amending ORS 696.810 and related sections — effective January 1, 2025

Requirements

Written agreement mandatory: any broker/principal broker representing a buyer in a residential transaction (land or 1-4 dwelling units) must have a signed, written buyer representation agreement before, or as soon as practicable after, beginning to assist the buyer
Must state whether the agreement is exclusive or nonexclusive
Must include a description of the buyer's agent's legal obligations under ORS 696.810 (or reference/incorporate the Initial Agency Disclosure Pamphlet), the buyer's general search criteria (e.g., price range, desired location), the licensee's license number, and the principal broker's name and contact information
Must specify contract duration with defined effective and expiration dates, capped at a maximum term of 24 months including any renewals
Must explain how the licensee may be compensated, and must set out termination rights available to both the buyer and the licensee
Scope carve-outs: not required for commercial transactions or properties with five or more residential units, and buyers may attend open houses without first signing an agreement; an agent bound by a buyer representation agreement generally cannot also represent the seller unless the buyer gives written consent to disclosed limited (dual) agency under ORS 696.815

Facts on this page reflect research current as of 2026-07-05. Programs, rates, and laws change — confirm current figures with the relevant state agency before relying on them.

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