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					 Oregon Real Estate
 News-Journal
 Official Publication of the Oregon Real Estate Agency                                               Volume 62, Number 2, July 2008


                                     Transitions in the Agency
                                     Gene Bentley, Real Estate Commissioner
                                      I’m pleased to report about the                    to Regulation Division Manager. She was
                                      exciting changes taking place here at              previously the manager of the Licensing
                                      the Oregon Real Estate Agency.                     Division.
                                         In May, Mesheal Heyman ac-                         Selina has been with the Agency for over
                                      cepted the opportunity to man-                     five years, and has worked previously as an
                                      age the new Education Division.                    Investigator/Auditor for the Agency. Prior to
                                      Mesheal has been with the Agency                   joining the Agency, Selina served over eight
                                      since January 2001.                                years with the Salem Police Department, in-
                                         The previous Education Section                  cluding four years as a detective conducting
                                      was responsible for coordinating                   complex, multi-jurisdictional investigations.
                                      license examinations, approving pre-                  The new Licensing Division Manager will
                                      license and post-license courses and               be hired by the time you receive this issue.
Commissioner Gene Bentley             instructors, developing and publish-               Licensing Compliance Specialist Laurie Hall
                            ing Agency publications and brochures, and                   has agreed to manage the division until then.
                            managing the Agency’s website. The new                       Watch for the announcement on the Agen-
                            division will continue those duties, but will                cy’s website at www.rea.state.or.us.
                            take on the additional responsibilities of con-                 Investigator/Auditor Virginia Grosso
                            ducting compliance reviews and mail-in au-                   has announced that she will be leaving the
                            dits, researching the educational needs of real              Agency in August to finish her last year at
                            estate licensees, and encouraging additional                 Willamette University’s College of Law. We
                            educational opportunities for licensees.                     wish her well in her endeavors.
                               Agency staff members Gae Lynne Cooper,                       At the time of printing, the Agency plans
                            Judi Parker, and Danette Rozell have joined                  to have hired three new Investigator/Audi-
                            Mesheal in the new division. The first task                   tors for the Regulation Division. This will
                            faced by the new team will be to research                    bring the division up to full staff.
                            cost-effective ways to get the same informa-                    Available job opportunities with the
                            tion given in one-on-one compliance reviews                  Agency can be found on our website at www.
                            to more licensees.                                           rea.state.or.us.
                               In June, Selina Barnes was promoted

                                                                              IN THIS ISSUE
Oregon Real Estate            Oregon - 150 Years of History ............... 2            Administrative Actions ........................... 4
Agency                        Renewing Online? A Green Bar                               Continuing Education for Real Estate
1177 Center Street NE          Means Go ............................................ 2    Licensees .............................................. 7
Salem, Oregon 97301           Enhancing Education............................. 3         Lands Next to Oregon’s Scenic
(503) 378-4170                Governor Re-Appoints Medford,                               Waterways ............................................ 7
(503) 378-3256 Fax             Hermanski to Board ............................ 3         Permanent Advertising and Background
www.rea.state.or.us                                                                       Check Rules Effective 7/1/08 ............... 8
    Oregon - 150 Years of History
       If someone asked you what your idea of           http://www.oregon150.org/oregon-stories.
    an Oregonian is, what would you tell them?          Oregon 150 is the non-profit group organiz-
    Oregon celebrates its 150th birthday next year,     ing many sesquicentennial events. They are
    and we want to hear your take on being an           asking you to share anything from written
    Oregonian!                                          family histories, audio files, photographs, po-
       The Real Estate Agency would love any            ems, and even cherished family recipes. Their
    real estate-related stories you want to share.      webpage has some excellent tips to get your
    Whether stories of the land your family             story started.
    has held since the pioneering days or your             Starting in the December 2008 edition of
    experiences as a real estate broker or property     Oregon Real Estate News-Journal, we explore
    manager, we want to hear from you. What             the history of land and real estate in Oregon.
    changes have you seen in the industry while         We will have stories in four editions, each
    you’ve been licensed? Please e-mail your            involving a different time period from Lewis
    stories with contact information to us at orea.     and Clark’s arrival through today. The stories
    info@state.or.us.                                   highlight some of the interesting events that
       You can also share your stories at               shaped our state and the real estate industry.



    Renewing Online? A Green Bar Means Go.
    Real estate licensees renewing their license        What is Extended Validation SSL?
    online using Internet Explorer 7.0 may see              Extended Validation (EV) SSL Certificates
    something different: their internet browser bar     represent the highest standard for authentica-
    turning green.                                      tion approved by the CA/Browser Forum, a
    Why did the address bar turn green?                 group of leading SSL Certificate Authorities
        You are visiting a site secured with Extended   (CAs) and browser vendors. The standard re-
    Validation (EV) SSL, the highest standard for       quires that every Web site secured with EV SSL
    Web site authentication. EV SSL signifies that       pass a certified process for rigorously verifying
    our organization has passed a rigorous identity     the identity of the organization responsible for
    authentication process. In high-security brows-     that Web site.
    ers, an EV SSL Certificate triggers the browser      Why does rigorous authentication matter?
    address bar to turn green, display https://, and        When you follow a link to a Web site, how
    show the name of the organization that owns         do you know it is real? There are criminals who
    this Web site and VeriSign, the certificate au-      create Web sites that look familiar in order
    thority that verified the owner’s identity using     to trick visitors into revealing personal and
    a rigorous authentication process. When your        financial information. These “phishing” web
    address bar turns green, be sure to look to see     sites can be very difficult to distinguish from
    that the owner of this Web site is the organiza-    legitimate Web sites. An Extended Validation
    tion you intended to visit.                         SSL Certificate displays the authenticated
    What does SSL mean?                                 name of the organization that purchased the
        Secure Sockets Layer (SSL) Certificates are      SSL Certificate.
    the standard method used on the Internet to             Why did you choose Extended Validation
    secure communications between Web users             for this Web site?
    and Web sites. This technology both authen-             We chose Extended Validation (EV) SSL to
    ticates the identity of a Web site and encrypts     secure your online transaction with us because
    communications between the user and the             we take your online security very seriously. EV
    Web site.                                           SSL signifies that our organization has passed
                                                        the strict EV identity authentication process.


2   July 2008                                           Oregon Real Estate News-Journal
Enhancing Education
Marianne Wood, Oregon Real Estate Board
The Real Estate Agency and the Oregon As-         both multiple choice and critical decision-
sociation of Realtors® are working together       making questions. Some states use a combi-
to improve the education standards for            nation of multiple choice questions
Oregon licensees.                                 and a broker simulation examina-
    A Joint Education Task Force was formed       tion. The task force researched many
to address issues related to pre- and post-       of the available options for testing.
license education for real estate brokers and        Comments leading to the ap-
property managers.                                pointment of the original Education
    From this group, subcommittees were           Work Group in 2006 indicated that
appointed to study and prepare recommen-          the teaching materials for pre-license
dations to be presented to the Oregon Real        courses were focused more on pass-
Estate Board. The subcommittees met and           ing the examination than preparing
discussed pre-license education, advanced         the licensee for the actual responsi-
practices, continuing education, property         bilities of being a licensed Real Estate
management and distance learning.                 Broker working with the public.
    The Joint Task Force recommendations
were also presented at the Oregon Association     Continuing Education
of Realtors® 2008 Legislative Conference in
Salem. To view the recommendations, go to            The work group recommended that all the                 Marianne Wood
 http://www.oregonrealtors.org/Advocacy/          elective courses be eliminated and the current
and click on the link to the Legislative Con-     required course topics expanded. The revised
ference white papers. The list is on that page.   course topics suggested cover 28 categories
    Some of the bullet points of the recom-       and include one three-hour rule and law
mendations and discussions coming from the        update certified annually by the Real Estate
task force include the following comments:        Board. The course materials and course pro-       Board Meeting
                                                  viders will be certified.                          Schedule
Pre-license education
                                                     From the combined efforts of the Real          August 4, Boardman
   In comparing pre-license education in          Estate Agency and Oregon Association of           October 6, Salem
Oregon with other states, it is interesting to    Realtors®, it is clear that Oregon is raising     December 1, Salem
note that Oregon currently ranks as one of        the real estate education standards for current
only six other states that require more than      and future licensees.                             Visit www.rea.state.
100 hours of pre-license education. Colorado         All licensees are encouraged to contribute     or.us for more infor-
(168 hours) was the only state to require         ideas and comments to any member of the           mation.
more than the 150 hours currently required        Joint Task Force or send suggestions to the
for pre-license education in Oregon.              Real Estate Board, 1177 Center Street N.E.,
   Another recommendation from the task           Salem, Oregon 97301. You can also e-mail
force was to develop a test that would include    to orea.board@state.or.us.


Governor Re-Appoints Medford, Hermanski to Board
Governor Ted Kulongoski has re-appointed          two public members of the Board. Her term
Kim Medford and Christopher Hermanski             expires January 31, 2012.
to the Oregon Real Estate Board.                     Hermanski is founder of Mainlander
   Medford is an attorney with Karnopp            Property Management in Lake Oswego. His
Petersen, LLP in Bend. She serves as one of       term expires July 31, 2012.


Oregon Real Estate News-Journal                                                      July 2008                              3
                         Administrative Actions
                         February 27, 2008 through June 30, 2008, 2008

                         Revocations                                       the listing had been cancelled in April 2006
                                                                           and without the permission or consent of the
The Agency is               McKenna, D. Michael (Portland) Broker          owner.
required by Oregon       #890500223                                           Violations: ORS 696.810(2)(a); OAR
Real Estate License      Stipulated order dated June 30, 2008, effec-      863-015-0255(2) (2003 Edition); ORS
Law to publish dis-      tive June 30, 2008, resulting in a revocation.    696.280, 696.301(14); OAR 863-015-
ciplinary actions. A        Violation: ORS 696.301                         0125(5)(e); 863-015-0145(5) (2005 Edi-
list of those actions,
                                                                           tion)
a brief description         Sasaki, S. Alan (Portland) Broker
of the situation,        #780401503                                           Yehia, Elliot (Beaverton) Broker
and the grounds for      Stipulated order dated March 27, 2008, ef-        #200209031
the Commissioner’s       fective March 27, 2008. Sasaki plead guilty       Hearing order dated March 10, 2008, effec-
action follows.          to a charge of Aggravated Theft in the First      tive April 1, 2008. Yehia failed to disclose
Please note, there are   Degree, a Class B Felony.                         in the RMLS listing statement that he was
individuals with real       Violation: ORS 696.301(11)                     a real estate licensee and had an owner-
estate licenses that
                                                                           ship interest in the property; Yehia failed
may have similar or         Steiner, Judy K. (McMinnville) Property        to exercise reasonable care and diligence
the same names as        Manager #940600190                                by recommending that buyers rely on his
those listed herein,     Stipulated order dated May 1, 2008, effec-        (Yehia) inspection report and his (Yehia)
or even work in the      tive June 1, 2008, resulting in a revocation.     inspector rather than advising buyers to ob-
same market area. If        Violation: ORS 696.301                         tain an independent inspection report; Yehia
you are in doubt if an
                                                                           altered transaction documents by modifying
individual listed here      Truong, April (Portland) Broker                the documents after execution without the
is someone you know      #990700101                                        consent of the buyers; Yehia acted in the dual
or with whom you         Default Order dated April 1, 2008, effec-         capacity of agent and undisclosed principal
are dealing, please      tive April 1, 2008. Truong failed to submit       in more than one transaction; Yehia failed to
contact the Agency       transaction documents to her principal bro-       disclose his financial interest in a property to
for verification.         ker until after the transaction closed; Truong    the buyers; Yehia conducted professional real
    Finally, please      allowed the buyer to enter into a seller-car-     estate activity after his license expired and
note that stipulated     ried contract and a contract of sale and failed   prior to its renewal; and Yehia falsely ad-
settlements do not       to provide documentation that the lender          vised OREA that he had not conducted any
necessarily reflect all   was aware of the seller carried contract of       professional real estate activity during the
the factual violations   sale; Truong entered into a verbal agreement      period in which is license was expired and
initially alleged by     to purchase buyer’s properties in Hillsboro       not renewed.
the Agency, and the      and Portland without preparing paperwork,            Violations: ORS 696.301(1), (15), (28)
sanction(s) may have     by improperly obtaining quitclaim deeds           & (31), 696.805(2)(a) & (c), 696.810(2)(a),
been adjusted as         on these properties and failing to return the     696.810(3)(a), (c) & (d); OAR 863-015-
part of the nego-        quitclaim deeds or reconvey the proper-           0050(2), 863-015-0145 (2003 Edition)
tiation process. Such    ties; Truong failed to provide her principal
settlements may not,     broker with transaction documents when she        Suspensions
therefore, directly      obtained quitclaim deeds on two of buyer’s
compare in severity/     properties and failed to maintain documen-           Daugherty, Sheila Lynne (Lincoln City)
sanction with other      tation that she made mortgage payments on         Broker #200602296
cases.                   behalf of Buyer for the two properties; and       Stipulated order dated March 10, 2008,
                         Truong placed a property back in the RMLS         issuing a 30-day suspension effective April
                         system from June to September 2006 after          1, 2008. Daugherty failed to inform sellers,
                                                                           whom she represented through her course

4                        July 2008                                         Oregon Real Estate News-Journal
of conduct, of the sellers’ duty under ORS        of employees or businesses in which he has a
105.462 to 105.490, regarding the sellers’        pecuniary interest, and (5) a statement that
property disclosure; Daugherty failed to          the broker shall disclose use of employees or
inform the buyer, whom she represented            businesses where the broker has a pecuniary
through her course of conduct, of the buyer’s     interest; Kern’s property management agree-
rights under ORS 105.462 to 105.490,              ment described quarterly owner statements
pertaining to the seller’s property disclosure;   instead of monthly; Kern failed to include
Daugherty failed to provide the sellers with      an identifying code on the property manage-
an initial agency disclosure pamphlet at the      ment addendum; and Kern failed to main-
first contact; Daugherty failed to obtain the      tain written company policies for real estate
signature of the buyer or sellers on a final       and property management.
agency acknowledgement form when execut-              Violations: OAR 863-015-0125(1), (2) &
ing the offer to purchase; Daugherty failed       (3), 863-025-0015(1), 863-025-0020(1), (2)
to obtain signed disclosed limited agency         (f )-(k) & (4), 863-025-0055(1), 863-025-
agreements from the sellers and buyer, when,      0065(1)
through her course of conduct, she repre-
sented both sellers and buyer; Daugherty             Martin, Troy W. (Portland) Broker
failed in a timely manner to account to the       #891200213
sellers for the $65 she received from the         Stipulated order dated June 30, 2008, issuing
sellers for the purpose of recording the deed;    a 45-day suspension effective July 1, 2008.
Daugherty failed to transmit to her prin-         Martin signed the closing statements in two
cipal broker the $65 she received from the        transactions when he knew that funds would
sellers for the purpose of recording the deed;    go to the buyer.
Daugherty failed to transmit to her princi-          Violation: ORS 696.301(1)
pal broker the real estate contract that she
executed on behalf of the sellers and buyer;         Mitzel, Debra K. (Molalla) Property Man-
and Daugherty failed to disclose to the sellers   ager #980700051
in a timely manner a conflict of interest, that    Stipulated order dated March 10, 2008,
the buyer was her son.                            issuing a 2-year suspension effective April 1,
    Violations: ORS 696.815(2)(a),                2008.
696.820(2), 696.845, 696.870(1)(a) & (b),         Mitzel allowed an employee to issue a second
OAR 863-015-0205(1), 863-015-0255(2)              check to a vendor without recording the
                                                  invoice number; Mitzel failed to authorize,
    Kern, Don R. (Roseburg) Broker                in writing, an employee to review and ap-
#921200044                                        prove the reconciliations of the clients’ trust
Stipulated order dated June 16, 2008, issuing     account; Mitzel misrepresented the nature
a 60-day suspension effective June 30, 2008.      of a payment to a property owner; Mitzel
Kern advertised property for sale that did        took a management commission before the
not include his registered business name;         end of the rent cycle; Mitzel failed to notify
Kern failed to review and be responsible for      the Agency of a new clients’ trust account;
all advertising concerning professional real      Mitzel failed to maintain active and inactive
estate or property management activity; Kern      records as required; Mitzel failed to reconcile
failed to deposit property management funds       the clients’ trust account February through
into a clients’ trust account; Kern failed to     April 2006 at lease once a month; Mitzel
establish and maintain a clients’ trust ac-       issued checks from an owner’s ledger ac-
count for property management; Kern failed        count in excess of the actual credit balance
to establish and maintain owner ledgers           of the account; Mitzel failed to deposit into
for each property management agreement;           a clients’ trust account funds received in the
Kern failed to include in a property manage-      course of her property management business;
ment agreement: (1) an identifying code, (2)      Mitzel allowed outstanding adjustments
disposition of records upon termination, (3)      to remain on the accounting records for
all management fees and other compensation        extended periods of time; Mitzel conducted
to be paid, (4) a disclosure regarding the use        Please see Administrative Actions on Page 6

Oregon Real Estate News-Journal                                                      July 2008      5
                          Administrative Actions:

The complete order        Continued from Page 5
for each admin-
istrative action
can be found as a
supplement to the
                          property management for an owner without
                          a valid property management agreement;
                                                                            REPRIMANDS
electronic version        Mitzel allowed an employee to enter into             Carlson, Jared Douglas (Bandon) Prop-
of the OREN-J on          a property management agreement; Mitzel           erty Manager #200601202
the Agency’s web-         failed to initial and date a property manage-     Stipulated order dated April 28, 2008.
site. Visit www.rea.      ment agreement memorializing her approval         Carlson failed to reconcile the bank balance
state.or.us, and select   and acceptance; Mitzel failed to assure that      with the check register and all positive owner
“News-Journal” from       the label included the language “clients’ trust   ledgers; Carlson issued checks against owner
the menu.                 account” on more than one clients’ trust          ledgers in excess of the balance on the owner
                          accounts; Mitzel failed to provide an owner       ledger; Carlson failed to maintain owner and
                          with a final accounting and the unobligated        tenant ledgers; and Carlson failed to back up
                          funds timely; Mitzel allowed an employee          data stored on the computerized system at
                          to make a telephone transfer without prior        least once every month.
                          written authorization; Mitzel issued a clients’      Violations: OAR 863-025-0025(11) &
                          trust account check prior to the existence        (19), 863-025-0035(1)(j) & (2)(a)
                          of a sufficient credit balance in the owner’s
                          ledger to cover the check on more than                Hall, Terri L. (Lake Oswego) Broker
                          one occasion; Mitzel failed to note a check       #990300060
                          number issued and date paid for a vendor          Stipulated order dated March 28, 2008.
                          invoice and thereby failed to retain all paid     Hall failed to present seller with transaction
                          bills and receipts explaining the amount of       documents in a timely manner; Hall allowed
                          and purpose for the disbursement; Mitzel          seller to sign an addendum after the contract
                          maintained ledgers that contained erroneous       terminated; Hall changed the status of the
                          and incomplete information; Mitzel used           subject property on RMLS from “pending”
                          checks that were not numbered consecutively       to “active” prior to the termination agree-
                          as they were issued; Mitzel failed to transfer    ment being signed by both parties; and Hall
                          existing client operating funds into a newly      paid for a home warranty.
                          opened clients’ trust accounts in a timely            Violations: ORS 696.805(2)(b) & (c),
                          manner; Mitzel charged an owner the rate          696.290; OAR 863-015-0125
                          of $40 per hour for repairs and maintenance
                          work when the management agreement                  Ngo, Moon (Portland) Broker
                          called for the rate of $35 per hour; Mitzel       #200407120
                          charged owners for maintenance and repairs        Default order dated March 19, 2008. Ngo
                          without any supporting documentation or           misrepresented LP siding as cedar siding.
                          explanation of the charges; and Mitzel al-          Violation: ORS 696.301(1)
                          lowed a check to be drawn which resulted in
                          a negative balance.                                  Richardson, Dale Alex (Portland) Broker
                              Violations: ORS 696.241(2), 696.301(1) &      #200503082
                          (28); OAR 863-025-0020(2), (4), (5) & (6);        Stipulated order dated June 30, 2008.
                          863-025-0025(1), (3)(a), (e) & (f), (5) & (6);    Richardson performed a competitive market
                          863-025-0030(1); 863-025-0035(3); 863-            analysis without first examining the inside of
                          025-00402)(5); 863-025-0055(2); 863-025-          the subject property; and Richardson omit-
                          0065(1); 863-015-0255(4) (2003 Edition);          ted language requested by the buyers from an
                          863-025-0025(3)(a) ,(7) & (10); 863-025-          addendum he prepared.
                          0035(3); 863-025-0070(3) (2005 Edition)              Violations: ORS 696.301(12) & (15)

6                         July 2008                                         Oregon Real Estate News-Journal
                                                                                                       Continuing

Continuing Education for Real Estate Licensees                                                         Education
                                                                                                       Required Topics:
                                                                                                       • Trust Accounts
                                                                                                       • Misrepresentation
Thirty hours of continuing education are              Continuing education must be “real               • Anti-Trust
required to renew a real estate license in        estate-oriented.” It must be a minimum of            • Rule and Law Up-
Oregon. Principal brokers approve education       one hour in length.                                    date
for themselves and their affiliated licensees.         Continuing education taken out-of-state          • Property Manage-
Sole practitioner brokers and property man-       may be approved by the approving licensee              ment
agers approve their own education. The Or-        if the content applies to Oregon. Online or          • Commercial Bro-
egon Real Estate Agency does not approve          distance education classes may also be ap-             kerage and Leasing
continuing education. The Agency does             proved.                                              • Real Estate Taxation
not maintain a list of continuing education           A principal broker may let affiliated bro-        • Agency
course providers.                                 kers use the Advanced Real Estate Practices          • Fair Housing
    Licensees who approve education decide        course for continuing education (Certificates         • Contracts
whether a course is in required or elective       of attendance must be kept by the approving          • Evaluation of Prop-
topics. OAR 863-015-0055 requires that            licensee for six years                                 erty
at least 15 hours of continuing education             Visit the Agency’s website at www.rea.           • Brokerage Manage-
taken by a licensee must be taken within the      state.or.us for more information, or call the          ment
required topics (see sidebar). The rest of the    Agency at (503) 378-4170.                            • Land
hours can be either required or elective.                                                              • Business Ethics


Lands Next to Oregon’s Scenic Waterways
Do you represent an owner or buyer of prop-       •   North Fork of Middle Fork of
erty along a Designated Oregon Scenic Water-          Willamette River                                 Editor’s Note: This
way? The property may have land use require-      •   Owyhee River                                     article was printed
ments that are not shown in title reports.        •   Rogue River                                      at the request of the
   The Scenic Waterways Program balances          •   Sandy River                                      Oregon Parks and
the protection of the rivers’ natural resources   •   North Santiam River                              Recreation Depart-
and the lives and plans of property owners        •   North Umpqua                                     ment.
who live along them. Under current Oregon         •   Walker Creek
Administrative Rules and Oregon Revised           •   Wallowa River
Statutes, landowners are required to notify the   •   Waldo Lake
Oregon Parks and Recreation Department
(OPRD) of certain activities proposed within         Activities that require notification may
one-quarter mile of the bank of a designated      include tree cutting; mining; and construction
scenic waterway.                                  of roads, railroads, utilities, buildings or other
   Designated Scenic Waterways include por-       structures. Other activities also may require
tions of the:                                     notification. The proposed uses or activities
• Clackamas River                                 may not be started until the written notifica-
• Deschutes River                                 tion is approved, or until one year after the
• Elk River                                       notice is accepted.
• Grand Ronde River                                  For more information about the program
• Illinois River                                  and to download a copy of the Scenic Wa-
• John Day River                                  terways Landowners Guide, please visit the
• Klamath River                                   OPRD web site at http://www.oregon.gov/
• McKenzie River                                  OPRD/PARKS/index.shtml. A list of staff
• Metolius River                                  contacts are listed on the web site. For ad-
• Minam River                                     ditional information, call Jan Houck, (503)
• Nestucca River                                  986-0742.


Oregon Real Estate News-Journal                                                        July 2008                               7
                                      Permanent Advertising and Background Check Rules
                                      Effective 7/1/08
                                         The Real Estate Board approved the          rule, so the permanent rule continues the
                                      permanent rule for advertising (OAR 863-       requirements that have been in place since
                                      015-0125) and the new rules defining the        January 18.
                                      criminal background check process for             The full text of both rules can be found
                                      license applicants. There were no changes in   on the Agency’s website at www.rea.state.
                                      the language of the temporary advertising      or.us.


OREGON REAL ESTATE
NEWS-JOURNAL                                  OREGON REAL ESTATE NEWS-JOURNAL, SALEM, OREGON 97301
(USPS 905-220)                                          Periodicals Postage Paid at Salem, Oregon
Official Publication
Oregon Real Estate Agency
1177 Center St. N.E.
Salem, Oregon 97301-2505
Telephone: (503) 378-4170
Facsimile:
(503) 378-3256 Licensing
(503) 373-7153 Regulation
(503) 378-2491 Administration
Web Page:
http://www.rea.state.or.us

OREGON REAL ESTATE
AGENCY
Theodore R. Kulongoski,
Governor
Gene Bentley, Commissioner

REAL ESTATE BOARD
 Michael Graeper, Chairperson,
   Portland
 Troy Costales, Vice Chairper-
   son, Keizer
 Warren L. (Lee) Dunn,
   Portland
 Byron Hendricks, Salem
 Christopher Hermanski,
   Tualatin
 Arthur Kegler, Boardman
 Robert LeFeber, Lake Oswego
 Kim Medford, Bend
 Marianne Wood, Eugene

The Oregon Real Estate News-
Journal is published four times a
year by the Oregon Real Estate
Agency as an educational service
to all real estate licensees in the
state under the provisions of
Section 696.445 of the Oregon
Revised Statutes. $4.00/bienni-
um subscription fee included in
real estate license fee. All other
subscriptions $2.00 per year.
POSTMASTER: Send address
changes to Oregon Real Estate
News-Journal, 1177 Center St.
N.E., Salem, OR 97301-2505.

    Mesheal Heyman, Editor
          Vol. 62, No. 2
            July 2008
    Periodicals postage paid at
         Salem, Oregon

8                                     July 2008                                      Oregon Real Estate News-Journal

				
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