Committee hears bill creating 'managing principal broker' role and tightening real‑estate oversight

House Bill 3137 A would add a designated managing principal broker title, clarify supervisors' duties, and change continuing education and renewal rules for Oregon real‑estate licensees, witnesses told the Senate Committee on Housing and Development during a public hearing April 21.

The measure matters because sponsors say it updates statutes to match current business practice, clarifies who is responsible for firm‑level oversight, and adds training and testing requirements intended to protect consumers and raise professional standards.

Representative Vicki Breeze Iverson, the bill sponsor, told the committee she is a managing principal broker herself and that the measure "does several things for Realtors" including introducing a distinct managing principal broker title and clarifying supervisory duties. Iverson said the bill requires succession planning for firms, expands written supervisory agreement requirements, and updates continuing education: a total…