Disclosed Limited Agency Agreement & Informed Consent — Oregon Edition Template

Dual agency — one brokerage (or one agent) representing both buyer and seller in the same transaction — is the most heavily regulated conflict of interest in residential real estate. A handful of states ban it outright; the rest permit it only with the informed written consent of both parties, obtained after meaningful disclosure of what the parties are giving up. Get the consent wrong and the consequences stack fast: license discipline, commission forfeiture, and rescission or damages claims grounded in breach of fiduciary duty. Courts have long treated undisclosed dual agency as a fiduciary breach that can void the broker's right to any commission.

This 4-page Informed Consent form does the disclosure properly rather than minimally. It explains in plain language what agency representation normally includes (undivided loyalty, full disclosure, advocacy on price and terms); exactly which duties are limited in dual agency (the agent cannot advocate for either side on price, cannot disclose one party's willingness to pay more or accept less, cannot share confidential negotiating positions); what duties remain intact (honesty, disclosure of material property facts, accounting, confidentiality); and the designated agency alternative where the brokerage appoints separate agents for each party, where state law permits. Both buyer and seller sign separate acknowledgment and consent blocks, with transaction-specific identification and timing language confirming consent was obtained before or at the point dual agency arose.

The 50-state notes summarize the landscape: consent-based regimes (e.g., New York's RPL § 443 disclosure form with dual agency consent), designated agency states, transaction-brokerage states that replace agency entirely, and the states where dual agency is prohibited. This template supplements — and in states with mandatory statutory forms, accompanies — the state-prescribed disclosure. Not a substitute for your state's required form where one exists.

About this Oregon Edition: Every form has been redrafted around Oregon's real estate license law in ORS chapter 696, including the Initial Agency Disclosure Pamphlet requirement (ORS 696.820), the statutory duties of seller's and buyer's agents (ORS 696.805 and 696.810), and Oregon's "disclosed limited agency" regime (ORS 696.815), which replaces dual agency and requires written consent from both the seller and the buyer. The seller disclosure, addendum, counteroffer and buyer agreement forms are built around the statutory Seller's Property Disclosure Statement (ORS 105.462–105.490) and the buyer's five-business-day revocation right under ORS 105.475, while the listing, buyer, referral and termination forms rely on Oregon's statute of frauds for broker compensation agreements (ORS 41.580) and Oregon's Uniform Electronic Transactions Act (ORS chapter 84). The independent contractor and team agreements track Oregon's independent contractor standard (ORS 670.600) and the principal broker / associated broker supervision structure, and the commission disbursement form addresses the commercial real estate broker lien under ORS 87.925 et seq.