Delays until July 1, 2027, the requirement that a real estate team change the terms used in the team name.
SB 1513 amends Oregon’s real estate licensing law governing “real estate teams.” The bill keeps in place the existing disclosure, supervision, and limited-agency requirements for teams, but delays until July 1, 2027, the rule that a team name may not include the terms “realty” or “real estate” and may not be identical to the brokerage’s registered business name. In effect, the measure gives real estate teams additional time before they must comply with the naming restriction.
The bill also clarifies and restates the broader framework for team operations under ORS 696.370. Before entering into representation or listing agreements, team members must disclose team membership, roles, supervision, brokerage affiliation, and the need for a disclosed limited agency agreement when the team is representing competing clients in the same transaction or multiple buyers seeking the same property. It further requires that only a principal real estate broker may supervise or control other team members, unless a written supervisory agreement is in place with the managing principal broker.
SB 1513’s main legal impact is on Oregon’s real estate regulatory scheme, particularly the rules administered by the Real Estate Agency and the obligations of brokers, principal brokers, and team members. The bill does not broadly change consumer protections or agency law, but it postpones one compliance deadline and preserves the existing disclosure and conflict-of-interest safeguards for real estate teams. It takes effect immediately as an emergency measure, while the delayed naming-rule amendment becomes operative on July 1, 2027.
The bill appears to have been noncontroversial. It passed the Senate 27-0 and the House 38-0, and the committee votes were unanimous as well. The available record shows no committee transcript debate, suggesting broad agreement that the bill was a technical or transitional fix rather than a substantive policy dispute. The main practical issue reflected in the bill is timing: giving real estate teams more time to adjust their names to the statutory requirements.
SB 1513 amends ORS 696.370, which regulates real estate teams, disclosures to clients, supervisory authority, and limited agency arrangements. The bill delays until July 1, 2027, the prohibition on team names using “realty” or “real estate” or matching the brokerage’s registered business name, while leaving the rest of the team-disclosure and supervision rules intact. It affects real estate licensees, principal brokers, managing principal brokers, brokerages, and consumers engaging with real estate teams.
The overall sentiment around SB 1513 was strongly positive and largely procedural. It moved through both chambers with unanimous committee and floor votes, indicating broad bipartisan support and little to no opposition. The lack of recorded debate suggests lawmakers viewed it as a straightforward delay in implementation rather than a controversial policy change.
There is little evidence of substantive contention in the available record. The only notable issue is the delayed effective date for the team-name restriction, which likely reflects a desire to give real estate teams and brokerages more time to rebrand and comply. No opposing arguments or divided viewpoints are reflected in the votes or the committee materials provided.