Oklahoma License Law
Under Oklahoma law, the unauthorized practice of real estate (performing licensed activities without a license) can result in:
AA warning letter only
BCivil penalties and possible criminal prosecution✓ Correct
COnly a cease-and-desist order
DCommunity service only
Explanation
Practicing real estate without a license in Oklahoma is illegal and can result in civil penalties imposed by OREC, injunctions, and potentially criminal prosecution under state law.
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Key Terms to Know
Transfer Tax
A tax imposed by state or local governments when real property ownership is transferred, typically based on the sale price.
SteeringAn illegal practice where a real estate agent directs buyers toward or away from certain neighborhoods based on the buyer's race, religion, national origin, or other protected characteristics.
BlockbustingAn illegal practice of inducing homeowners to sell by claiming that the entry of minority groups will lower property values.
RedliningAn illegal practice where lenders or insurers deny services or charge higher rates in certain neighborhoods based on the racial or ethnic composition of those areas.
State-Specific Concepts
License Law
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