Agency
Oklahoma's law requires that the OREC agency disclosure form be signed by:
AThe listing agent only
BAll parties (buyer and seller) to acknowledge receipt✓ Correct
COnly the party being represented
DOnly when dual agency occurs
Explanation
The OREC agency disclosure form must be signed by all parties to acknowledge that they have received and understood the information about agency relationships available to them. It serves as documentation of the required disclosure.
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- Oklahoma requires agency disclosure to be provided in which form?Agency
- Oklahoma's Broker Relationships Act requires brokers to provide the agency disclosure to a consumer:Oklahoma License Law
- Under Oklahoma's agency disclosure requirements, the Oklahoma Broker Relationships disclosure form must be provided:Agency
- Oklahoma's real estate agency disclosure law requires that licensees provide a written agency disclosure:Agency
- Oklahoma's Residential Property Condition Disclosure Act requires sellers to complete a disclosure form addressing:Property Ownership
- Oklahoma law requires a licensee to provide a copy of the signed purchase contract to all parties:Oklahoma License Law
- Oklahoma's Broker Relationships Act defines which relationships a broker may have with parties in a transaction. Under this law, a written agreement is required for:Oklahoma License Law
- Oklahoma's OREC agency disclosure requirement is intended primarily to ensure:Agency
Key Terms to Know
Dual Agency
A situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
State-Specific Concepts
Disclosure Requirements
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