What is a Real Estate Agent/Broker

In Oregon, Real Estate Agents must be licensed by the state (Oregon Revised Statutes Chapter 696), and are further governed by a body of rules and regulations that define how they will conduct their businesses and real estate activities. Specifically:

696.020 License required for persons engaged in professional real estate activities.
(1) No person shall engage in, carry on, advertise or purport to engage in or carry on professional real estate activity, or act in the capacity of, a real estate licensee within this state without first obtaining a license as provided for in this chapter.
(2) A real estate licensee shall be bound by and subject to the requirements of ORS 696.010 to 696.490, 696.600 to 696.730, 696.800 to 696.855, 696.990 and 696.995 in engaging in any professional real estate activity or while acting in the licensee’s own behalf in the offer to, negotiations for, or sale, exchange, lease option orpurchase of real estate.

Further, the words “Realtor®”, “Realtors®” and “Realtor-Assocate®” are registered collective membership marks that identify, and many be used only by, real estate professionals who are members of the National Association of Realtors® (NAR) and subscribe to its Code of Ethics. That is, a Realtor® is a member of “NAR” and is also licensed by the state, but membership in NAR isn’t a requirement to be a real estate licensee.