Sandra holds a Broker Associate license in Oklahoma and works under Broker Tom at ABC Realty. Sandra's friend asks her to handle a transaction independently while Tom is on vacation. Sandra believes that because she holds a Broker-level license, she can legally act independently for this transaction. Which of the following best describes Sandra's situation under Oklahoma law?
Correct Answer
D) Sandra may not act independently because a Broker Associate must remain affiliated with and supervised by a licensed Broker
Under Title 59 O.S. § 858-102 and § 858-301, a Broker Associate in Oklahoma holds a broker-level license but has chosen to work under the supervision of another licensed Broker. Unlike an independent Broker, a Broker Associate cannot operate independently and must remain affiliated with a sponsoring Broker. Sandra's belief that she can act independently is incorrect under Oklahoma law.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A trust account, also called an escrow account, is a separate bank account maintained by a broker to hold funds belonging to others, such as earnest money deposits, security deposits, or other client funds.
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.
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