Oregon Real Estate Agency outlines budget, e-licensing timeline and stepped-up compliance at public hearing on HB 5036

The Transportation and Economic Development Subcommittee of the Ways and Means Committee opened a public hearing Jan. 30 on House Bill 5,036, the governor's recommended budget for the Oregon Real Estate Agency. Agency leaders told the committee the $15,734,253 proposal focuses on personnel, finishing an e-licensing system and continued investments in compliance and investigations.

“The agency projected to finish the biennium with approximately 2 months of operating reserves just short of the recommended 3 to 6 months,” said Hari Belopondian, representing the Department of Administrative Services Chief Financial Office, during his budget overview to the committee.

That shortfall prompted the agency to reduce services and supplies, eliminate one vacant position and take additional vacancy savings to bring reserves in line with guidance. The governor's recommended budget does not request fee increases for the 2025–27 biennium; agency leaders said they will monitor revenue and may propose adjustments in a later cycle.

Oregon Real Estate Commissioner Steve Stroud described how the agency's work is funded mostly by license fees and exams and outlined the agency’s priorities. “Our mission is to provide quality protection for Oregon consumers of real estate, escrow, and land development services balanced with a professional environment, which is conducive to a healthy real estate market atmosphere,” Stroud said.

Key budget facts and near-term plans

- Total governor's recommended budget: $15,734,253…