Privacy Policy

Portland Real Estate Privacy Policy

Our high ethical standards are the foundation of our success.

This page describes our privacy policies as they pertain to professional real estate activity and our “agency relationships” with clients. First and foremost, our clients’ confidentiality and our duty to act in good-faith for our clients is the foundation of our business model. At times a prospective client may contact us with a real estate need which we are unable to fulfill; in such cases we may refer the prospective client to another agent with whom we have a professional relationship who may be able to offer the prospect better assistance. We DO NOT ever sell “contact lists” to marketers. That said, if you ask us to see a listing you saw online Bruce or Richard Lockwood may refer another agent to show you that property and help with anything else you may need.

What Are “Agency Relationships” In Oregon Real Estate Transactions?

The State of Oregon defines an agency relationship as follows:
“An ‘agency’ relationship is a voluntary legal relationship in which a licensed real estate broker or principal broker(the ‘agent’), agrees to act on behalf of a buyer or a seller (the ‘client’) in a real estate transaction.” What this means is that we have legal obligations to our clients that are defined under Oregon law that outline our duty to keep certain information confidential within the limits of the law. For example, a client cannot ask us to break the law or be dishonest in a transaction (known as misrepresentation). Other information is not confidential and should be shared and even advertised about a property such as a home’s features, photos etc which we will go over with you at the listing appointment.

    Types Of “Agency” Relationships ad Defined In Oregon

    {*See OAR863-015-215(4) link at bottom of page for the complete definitions}

  • Seller’s Agent: This is an agent who represents (works for) the seller and has a fiduciary duty to act in good faith and to exercise reasonable care and diligence on behalf of the seller.
  • Buyer’s Agent: A buyer’s agent works for the buyer and their fiduciary duty is to work for the buyer, serving the buyer’s best interests.
  • Disclosed Limited Agent: This agent works for both the buyer AND the seller and is under the special guidelines of “Dual Agency” which must be disclosed to all parties.

Confidentiality in Short Sales

When we help you complete a short sale in Portland, OR it is important to remember that we work for you, not the bank (the bank is often referred to as the “third party” in short sales). And, while we cooperate with financial institutions in order to complete the process we have your best interests in mind. Even though we do represent you the seller, our ethical and legal standards mean that WE WILL NOT mislead another party for your benefit. We strongly believe in “doing the job right” and working honestly with you and your bank so that we put together a win-win deal that we can stand behind and that works for everyone’s long-term good. Where appropriate, we can make suggestions about how to best present the truth to your bank in such ways as to improve our clients’ position. For example (if both conditions are true), the question as to whether to document an injury (medical hardship) or a distant work transfer as the “primary hardship” or the “secondary hardship” may affect your short sale outcome. We can help you with these details during the process and our experience in such matters may be helpful.
At other times in the short sale situation it may be necessary to divulge non-specific (non-confidential) information to a buyer’s agent when working out the details of a purchase contract. A well-prepared buyer will want to make sure that the seller has a legitimate hardship situation before devoting months of their time to a transaction. Savvy buyers know to reject short sales where the seller does not have a viable hardship or where the seller will not cooperate with the bank on the process. As such, a listing agent will need to share non-confidential information with buyer(s) or their agents in order to procure a strong offer from a well-qualified buyer. We discuss the details of this during our short sale listing presentation and on the Short Sale PDF Documents linked below.

Oregon Realty Company: Over Six Decades Of commitment To Our Clients

Oregon Realty Company is the largest independent real estate brokerage in the state and every time we help a client buy sell, or short sale we earn our industry-leading reputation. We’re real Oregonians ready to help you achieve your dreams and we will never compromise our commitment to serving our clients above and beyond expectations. If there are any ways that we can improve your experience and your privacy please let us know immediately. In closing, we can’t wait to give you our best.

The information discussed above can be read in greater detail on the following PDF documents: