Oregon Broker PSI Practice Exam

What must a real estate agent provide within 3 banking days upon the acceptance or rejection of an offer?

1. Legible copies of all contracts

2. Legible copies of all offers signed by buyer and seller

3. Notification to the principal broker

4. A summary of the transaction

The correct answer is: Legible copies of all offers signed by buyer and seller

The correct choice emphasizes the importance of transparency and documented communication in real estate transactions. When an offer is accepted or rejected, a real estate agent is required to provide legible copies of all offers signed by the buyer and seller. This ensures that both parties have a clear understanding of the terms being considered and the history of the negotiations. In the context of agency relationships, providing these copies is vital for maintaining trust and ensuring that all parties are fully informed of the status of their negotiations. This step helps to avoid misunderstandings and disputes that could arise from differing interpretations of the terms of the offers. Other options, such as notifying the principal broker or providing summaries of the transaction, may involve essential communications in the process but do not specifically address the requirement to present signed offers, which is focused on the direct documentation of the negotiation process. Similarly, legible copies of all contracts while useful, do not capture the specific need for offers in this particular instance.