Any person or company engaged in marketing real estate in the state of Oregon is required to be licensed under ORS 696.606. In order to get an Oregon Real Estate Marketing Organization License, you will need to do the following:
How to get an Oregon Real Estate Marketing Organization License
Step #1: Complete an Oregon Real Estate Marketing License Application
Applications can be received from the Real Estate Commissioner.
To get an application, contact 503-378-4170 or orea.info@state.or.us
Step #2: Submit the following other paperwork:
- Complete list of all real estate marketing employees whom you will be employing at the time the license will be issued
- Completed fingerprint card for each applicant
Step #3: Purchase Oregon Real Estate Marketing Organization Bond
An Oregon Real Estate Marketing Organization Bond is a type of surety bond that promises your customers you will conduct business according to state and federal rules and regulations. If you violate any of your terms, the bond protects any harmed parties from financial loss.
The bond amount has been set at $35,000. The price you pay for your bond is based off your credit score.
Those with good credit can expect to be approved for their bond at a 1% rate or less.
Get a free Oregon Real Estate Bond quote
Step #4: Pay application fees
- $500 application fee
- $40/fingerprint card
Step #5: Submit paperwork
Upon receipt of your paperwork, you will be issued a letter of authorization that allows you to engage in real estate marketing activity pending the criminal history check.
Once your criminal history check has passed for all applicants, you will be issued an Oregon Real Estate Marketing Organization License.
For more information, check out the Oregon Real Estate Marketing Organization page.
More About the Real Estate Bond
An Oregon Real Estate Marketing Organization Bond is a type of surety bond that promises your customers you will conduct business according to state and federal rules and regulations. If you violate any of your terms, the bond protects any harmed parties from financial loss.
How it works is this: If someone feels you have not fulfilled your obligations, they can make a claim against your Oregon Real Estate Marketing Organization Bond. When this happens, the surety company who issued your bond will start an investigation.
If the surety company determines you are at fault, they will allow you to satisfy the claim. If you fail to do this, they will pay the claimant. With a surety bond, though, it will be your responsibility to repay the surety company.
You can learn more about how surety bond claims work.
More About the License – Term and Renewal
A new Oregon Real Estate Marketing Organization License shall be issued for no more than 13 months. To renew your license, you will need to submit a renewal application and a renewal licensing fee.
If you do not renew your license before the expiration date, your license will expire and you will need to reapply for a new license if you wish to continue doing business.
Related Links:
