law
Oklahoma Real Estate Commission (OREC)
The Oklahoma Real Estate Commission (OREC) licenses and disciplines everyone practicing real estate brokerage in Oklahoma under the Oklahoma Real Estate License Code (59 O.S. 858-101 et seq.) and its rules in Title 605 of the Administrative Code. It has seven members appointed by the Governor with Senate consent: five brokers with at least five years of experience, one lay member, and one real estate school representative, serving four-year terms. It can reprimand, fine, suspend, or revoke, but it does not award damages to consumers.
- Exam tip
- Memorize 7-4-5-1-1. A favorite 'NOT a power' answer is awarding compensatory damages to a consumer; consumers must sue in court and may then seek the Recovery Fund.
- Example
- A seller asks OREC to order her broker to repay a $2,000 deposit plus damages; OREC can discipline the broker but she must pursue the money in court.
Related terms & state variants
Sources
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Last verified: 2026-10-23