(1) As used in this section, letter opinion means: (a) A document that expresses a real estate brokers, principal real estate brokers, managing principal brokers or licensed real estate property managers conclusion regarding a recommended listing, selling or purchase price or a rental or lease consideration of certain real estate and that results from the licensees competitive market analysis; or (b) A document that expresses a timeshare sales agents conclusion regarding a recommended listing, selling or purchase price of a timeshare and that results from the licensees competitive market analysis. (2) The Real Estate Commissioner by rule shall specify the minimum contents of a letter opinion, including but not limited to the distinction between a letter opinion and a real estate appraisal. Note: 696.294 was added to and made a part of 696.010 to 696.495 by legislative action but was not added to any smaller series therein. See Preface to Oregon Revised Statutes for further explanation.
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