Oregon Real Estate Practice Test 2026 - Free Real Estate Practice Questions and Study Guide

When representing a buyer in Oregon, a real estate agent is required to disclose any known material defects in the property. This obligation stems from the agent's fiduciary duty to act in the best interests of their client, the buyer. Material defects refer to significant issues that could affect the property's value, safety, or livability, such as structural problems, leaks, or pests. By informing the buyer of any known defects, the agent enables them to make an informed decision about the property and potentially negotiate repairs or pricing adjustments.

Understanding the importance of disclosing material defects is crucial for maintaining transparency and trust in the real estate transaction process. Failure to disclose such information could lead to legal repercussions for the agent and could harm the buyer's interests. This requirement emphasizes the agent's role as a protector of the buyer's interests in the transaction.

The other options, while important in different contexts, do not carry the same legal weight as disclosing known material defects. The previous sale price, the owner's financial situation, and the agent's commission structure are not required disclosures in the same way, as they may not directly impact the buyer's ability to assess the property itself. Thus, the focus of disclosure for a buyer's agent is primarily on aspects that can affect the