Close a Business

Log into eLicense under the registered business name account to close your business.

• Transfer all current property management agreements and tenant agreements to the property owner, a property manager, or a principal broker. All records transferred to a licensee become the responsibility of that licensee.
• Keep all other records, including terminated and closed property management agreements, per ORS 696.280.
• Notify the Agency where records will be stored.

• Disburse all funds.
  
• Close account(s) at bank.
• Close account(s) in eLicense.
• Complete all final accountings.

Remove all signs and advertising from building(s).

Log into eLicense under the registered business name account to close your business.

• Close all active deal files or transfer them to another brokerage before closing the business.
• Terminate any active listing agreements.
• Keep all records per ORS 696.280.
• If you managed rental property for others, follow the steps above for closing a property management business.
• Notify the Agency where records will be stored.

• Disburse all funds.
  
• Close account(s) at bank.
• Close account(s) in eLicense.
• Complete all final accountings for any managed rental real estate.

Remove all signs and advertising from building(s).