The September 2018 edition of the Oklahoma Real Estate Commission's newsletter is now available. This newsletter has important updates for Oklahoma real estate license holders. You can also view the entire newsletter here.
New rules impacts Oklahoma real estate license holders
Effective September 15, 2018
The emergency rules from 2017 that cover broker's required experience, team registrations, and broker associate licenses will become permanent as of September 15, 2018. Click here to learn more.
Effective November 1, 2018
New emergency rules go in effect on November 1, 2018, as a result of HB2933. The new rules state that licensing officials must waive certain fees for low-income individuals, and you can click here to learn more.
Effective November 1, 2018, real estate teams will also have a requirement to register with the commission. You will also need to pay a one time fee of $100. If you do any advertising under a team name (even on social media) you must register to be in compliance. Click here to learn more and to also download the registration form.
Don't be in violation!
Just a reminder that 858-312(12) states it is a cause for suspension or revocation of a license for, “Soliciting, selling, or offering, ‘free lots,’ conducting lotteries or contests, or offering prizes for the purpose of influencing a purchaser or prospective purchaser of real estate.” Make sure your good intentions don't get you in trouble!
Coming in 2019
In years past, Oklahoma forms and contracts were presented at the October commission meeting with an effective date of November 1st. Things are different this year. The commission will be reviewing Contracts and form revisions at the October 9, 2018 meeting. New forms will then have an effective date of January 1, 2019.
Changes to existing forms and introduction of new additions will also be posted at orec.ok.gov after the October meeting for Oklahoma real estate license holders to review.
Don't let important changes pass you by
The commission's newsletters are a great way for Oklahoma real estate license holders to stay informed and in compliance, visit the commission's site at https://www.ok.gov/OREC/ and sign up to receive the newsletters delivered right to your inbox.
Another great way to stay updated is with our great selection of Oklahoma online real estate CE courses. RealEstateCE recently added an all-new Oklahoma course line up, click here to check it out.
This information current as of October 2018.