Oklahoma Broker Relationship Act
Real estate licensees are subject to a broad range of legal and ethical requirements that are designed to protect buyers, sellers and the community at large. Buyers and sellers will typically delegate authority to a real estate broker to act as their agent when conducting real estate business. When this happens, an agency relationship has been created.
Oklahoma has adopted statutory law that includes the statutes and rules enacted by the legislature and other governing bodies. In addition to the statutory laws of agency, real estate licensing laws and Commission rules directly affect and regulate the agency relationship among real estate licensees, buyers and sellers, and the public. This course outlines the laws that real estate professionals must adhere to, the transactions in which they will come across these requirements, and case law to illustrate real life scenarios.
BROKERAGE RELATIONSHIP ACT
1. Title 59 Sections 858-101 through 858-363 As Amended through November 1, 2016
2. House Bill 2524
4. FTC Investigations/Consumer Reports Survey
5. Broker Duties and Responsibilities
6. Brokerage Agreements/Disclosure
7. Miscellaneous Requirements
8. Best Practices
9. Key Points
1. Case Law
Final Assessment 10 minutes
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