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Oregon Realtors back bill to define managing principal broker and tighten supervisory duties for brokerages
Summary
House Bill 3137 would create a statutory managing principal broker designation, spell out supervisory duties and require additional continuing education and proficiency assessment for real estate licensees; proponents say changes update licensing law to match modern brokerage practices and strengthen consumer protections.
Committee members heard Feb. 5 testimony on House Bill 3137, a proposal from Oregon Realtors that would add a statutory designation for a managing principal broker, clarify supervisory duties within brokerage firms, strengthen continuing-education requirements, and add a proficiency assessment for license renewals.
Representative Vicki "Brie" Siverson introduced the concept, and Rick Harris, past president of Oregon Association of Realtors and a long-time principal broker, testified in support. "Creating a managing principal broker designation recognizes that firms often…
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