Oregon lawmakers pass Breese-Iverson bill to hike fines for unlicensed real estate brokers
PRINEVILLE, Ore. (KTVZ) – State Rep. Vikki Breese-Iverson, R-Prineville, on Friday successfully passed legislation that will better protect Oregon consumers throughout the home buying and selling process, with stiffer fines for those who conduct real estate business without a license.
HB 4103 increases the fine for a violation of doing real estate business without a license, she said. Many laws and regulations exist to ensure safe transactions, keeping the home buying process fair and equitable, and limit the risk of fraud to consumers. Licensed real estate agents uphold these rules to protect Oregonians.
However, she said, the current threshold of a $100 fine does not fulfill the intended purpose of deterring individuals from operating without a license. "It costs much more to maintain an existing real estate license in Oregon.
The civil penalty was $100 to $500 for the first offense and $500 to $1,000 for second or subsequent offenses. The new fines are $1,000-$2,500 for the first offense and $2,500 to $5,000 for further offenses.
“We rely on licensed real estate agents to maintain public confidence in the housing market, so they can feel safe and confident when buying and selling their homes,” Breese-Iverson said. “Agents that operate without a license erode this public trust and ignore rules and regulations that exist to protect Oregonians. We must increase the fine for operating without a license to better uphold these laws and protect buyers and sellers.”
The measure passed 51-1 last week in the Oregon House and 23-1 on Friday in the Oregon Senate, where it was carried by Sen. Tim Knopp, R-Bend. It now goes to the governor for her signature.
