Tom is a licensed Oklahoma Broker who operates his own brokerage. He wants to hire his nephew, who has no real estate license, to show properties to prospective buyers and answer their questions while Tom is busy. Under Oklahoma law, which of the following is true regarding the nephew's activities?
Correct Answer
C) The nephew may not show properties or negotiate with buyers on behalf of the brokerage without holding an Oklahoma real estate license
Under Title 59 O.S. § 858-102, showing properties to prospective buyers and answering their questions about the property constitutes real estate brokerage activity that requires a license. An unlicensed individual, even if working under a licensed Broker, may not perform licensable activities. Tom's nephew must obtain an Oklahoma real estate license before he can legally show properties or engage with buyers about real estate matters on behalf of the brokerage.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Price fixing is an illegal antitrust practice in which competing real estate brokerages agree to charge the same commission rates, fees, or other pricing for their services. It is a per se violation of the Sherman Antitrust Act.
Florida brokers are required to maintain transaction records and escrow records for a minimum of five years.
A tie-in arrangement is an illegal antitrust practice in which a seller conditions the purchase of one product or service on the buyer's agreement to purchase a separate product or service.
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