Seems to weakly activate transcription. Binds an Olf-1 consensus site in vitro. Forms either a homodimer or a heterodimer with a related family member. Expressed in the neuronal and basal cell layers of olfactory epithelium. Absent in the vomeronasal organ. May be produced at very low levels due to a premature stop codon in the mRNA, leading to nonsense-mediated mRNA decay. Belongs to the COE family.