Oregon License Law and the Real Estate Agency
Oregon real estate practice is governed by ORS Chapter 696 and the rules of the Oregon Real Estate Agency (OREA). This chapter covers the license structure that makes Oregon distinctive, the role of the Agency and the Commissioner, and the supervision requirements for licensees.
The Oregon Real Estate Agency and Commissioner
The Oregon Real Estate Agency (OREA) administers and enforces the real estate license law under ORS Chapter 696. It is led by the Real Estate Commissioner, who is appointed to oversee licensing, education standards, investigations, and discipline. The Oregon Real Estate Board is a separate advisory body that makes recommendations to the Agency but does not issue licenses or impose discipline itself.
Oregon's License Structure: Broker and Principal Broker
Unlike most states, Oregon's entry-level license is the 'broker' license rather than 'salesperson.' A newly licensed broker must be associated with, and supervised by, a principal broker. The 'principal broker' is the advanced license authorized to own or manage a brokerage, supervise other brokers, and maintain the clients' trust accounts. Oregon also licenses property managers as a separate category for those managing rental property for others.
Supervision and Independent Practice
An Oregon broker may not conduct professional real estate activity independently. The broker must operate under a principal broker who is legally responsible for supervising that broker's transactions, advertising, and handling of client funds. To practice on one's own or supervise others, a broker must qualify for and obtain the principal broker license.
State-specific details
State exam facts
- State regulator
- Oregon Real Estate Agency
- Exam vendor
- PSI
- Prelicensing education
- 150 hours of broker pre-license education
- Passing score
- 75%
How many prelicensing hours does Oregon require to become a real estate agent?
Oregon requires 150 hours of Agency-approved broker pre-license education before you can take the state exam.
Who licenses real estate agents in Oregon?
The Oregon Real Estate Agency licenses real estate brokers. Oregon's entry-level license is called a 'Broker' license (what most states call a salesperson). The Agency uses PSI to deliver the exam.
How is the Oregon broker exam structured?
The Oregon broker exam is delivered by PSI with an 80-question national portion and a 50-question Oregon state portion. You must score at least 75% on each section to pass.
Sources: https://www.oregon.gov/rea/licensing/get-license/pages/broker.aspx, https://www.psiexams.com/
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