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Practice Of Real EstateLicense_lawEASY

Which state agency is responsible for regulating and enforcing real estate licensing laws in Oklahoma?

Correct Answer

C) Oklahoma Real Estate Commission

The Oklahoma Real Estate Commission (OREC), established under Title 59 O.S. § 858-100 et seq., is the state agency with exclusive authority to regulate real estate licensees, issue licenses, investigate complaints, and impose disciplinary sanctions in Oklahoma.

Answer Options
A
Oklahoma Department of Consumer Credit
B
Oklahoma Human Rights Commission
C
Oklahoma Real Estate Commission
D
Oklahoma Real Estate Appraiser Board

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Related Topics & Key Terms

Key Terms:

orecregulatory_authoritylicense_law

Related Concepts

Advertising regulations govern how real estate licensees may market properties and services, requiring truthful, non-deceptive advertising that includes proper identification of the brokerage.

Antitrust violations in real estate occur when competing brokerages or agents engage in practices that restrain trade, reduce competition, or harm consumers through collusion. These violations are governed by the Sherman Antitrust Act and can result in severe penalties.

Broker supervision is the legal obligation of a designated or managing broker to oversee and be accountable for the real estate activities of all salespersons and associate brokers operating under their license.

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