"Agent" means:

(a) A real estate broker or principal real estate broker who has entered into:

(A) A listing agreement with a seller;

(B) A service contract with a buyer to represent the buyer; or

(C) A disclosed limited agency agreement; or

(b) An individual licensed under ORS 696.022 (Licensing system for real estate brokers and property managers) who has entered into a written contract with a real estate broker or principal real estate broker to act as the broker's agent in connection with acts requiring a real estate license and to function under the broker's supervision.

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