Updated December 28, 2022
An Oklahoma real estate agent listing agreement allows a real estate broker to market a person’s property in exchange for a commission. In Oklahoma, an Exclusive Right-To-Sell is the most popular type of listing agreement. This agreement gives the agent the exclusive right to sell the property within a time frame agreed upon in the contract (usually 6 months). Bound by the terms of the agreement, the agent must present all offers to the seller and carry out all duties and responsibilities with the seller’s best interests in mind. Once the sale is closed, the agent receives a percentage of the sale price as outlined in the contract.
Disclosure of Brokerage Duties (§ 59-858-355.1) – All real estate agents must describe and disclose in writing all agent duties and responsibilities mentioned in § 59-858-353.
Dual Agency (§ 59-858-355.1) – Brokerage services and disclosure laws apply across the board to dual agencies.
Property Disclosure Statement (§ 60-833) – The Oklahoma Real Estate Commission provides two (2) types of property disclosure forms and either must be completed:
- Owner Living on the Property – To be completed by a seller living on the premises and aware of any issues on the property.
- Residential Property Condition Disclaimer Statement. The former applies to sellers who are aware of property defects, allowing them to list each issue. The latter is a statement claiming that the seller has never lived on the premises and has no actual knowledge of any defects.
Search a Licensee – Search for a real estate agent using the OREC search engine.