Winter 2024

The first phase of HB 4058 implementation went live on January 1, 2025. As of that date, brokers and principal brokers representing a buyer in any Oregon residential transaction (land or one-to-four units) must have a written buyer representation agreement in place. Future right-to-list agreement restrictions also took effect on the same date.

The Oregon Real Estate Agency (OREA) completed the rulemaking cycle in late 2024, publishing new and amended administrative rules in Chapter 863 of the Oregon Administrative Rules. Key practical points: the buyer representation agreement term may not exceed 24 months; compensation terms must be specifically and conspicuously disclosed in writing; future right-to-list agreements are sharply limited so a homeowner cannot be locked into a long-tail exclusive listing instrument decades in advance; and the listing agreement rules update to align with the buyer-side reforms.

For day-to-day practice, this is a meaningful intake change. Every buyer relationship now starts with a signed agreement before tours, before access to off-market listings, before any substantive service. Firms should audit CRM templates, listing presentation scripts, and broker onboarding to ensure the new agreement workflow is in place. The OREA newsroom item New Real Estate License Laws and Rules Effective January 1 is the authoritative agency overview; the Buyer Agreements and Listing Agreements - A Law and Rule Overview walks through the rule changes in detail.