December 2021
12/22/2025 Editor's Note: House Bill 3137 (Oregon Laws 2025, Chapter 389) make changes to the written agreement requirement effective January 1, 2026. Please review Section 21a of the bill for more information.
If you are responsible for a registered business name that has more than one principal broker associated with the business, there must be a written agreement that specifies each principal broker's supervisory control and responsibility for the professional real estate activity of brokers in the business.
Oregon Revised Statute (ORS) 696.310 applies to any active licensee licensed as a principal broker who works with another principal broker in the same business, even if the principal broker only operates as an agent.
Your individual business needs will determine what supervisory controls and responsibilities are assigned to each principal broker. The written agreement must include:
- How the supervisory control and responsibility for the professional real estate activities of the brokers associated with the business is allocated.
- What the default allocation of supervisory control and responsibility will be for any brokers who join the registered business in the future or who are otherwise not included in the written supervisory agreement.
- What supervisory control and responsibility any principal broker has over another principal broker.
Written agreements should be updated any time a principal broker joins or leaves the business.
Per ORS 696.301(1)(c), all principal brokers in a business will be considered to share equal supervisory control and responsibility for the professional real estate activity of brokers not covered by a written supervisory agreement.