1. What did the Oklahoma Broker Relationships Act replace?
Answer & explanation
Answer: B. §858-360(A) states the Act's duties replace and abrogate fiduciary or other common-law agency duties.
agency
Oklahoma Broker Relationships Act
The Oklahoma Broker Relationships Act replaces common-law agency with statutory duties. Under 59 O.S. 858-360, its duties replace and abrogate fiduciary duties that would otherwise arise, and a broker may not act as an agent, subagent, or dual agent or offer subagency. A firm may serve one or both parties; if it serves both, it must give both written notice before they sign a contract and owes each the same statutory duties. A party is not vicariously liable for a licensee's acts.
- Exam tip
- On Oklahoma's state portion, answers built on 'dual agency' or 'subagency' are almost always wrong. The Act replaced common-law agency and fiduciary duties.
- Example
- A firm lists a home and a buyer working with another associate at the same firm wants to see it; the firm gives both parties written notice that it serves both before any contract is signed.
Related terms & state variants
Sources
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Last verified: 2026-10-23