Although the agent will typically prefer the exclusive right to sell the property, the seller may opt for “exclusive agency,” or an “open listing,” which allows the owner to find a buyer independently, and in the case of an open listing, enables them to seek assistance from other agencies. Once a suitable buyer has been found and ownership of the property has been transferred, the licensee will receive the commission outlined in this document.
- Dual Agency (§ 59-858-355.1) – Dual agency is when a broker wishes to represent both a buyer and a seller in a real estate transaction and is permitted in the state of Oklahoma.
- Purchase Agreement – An interested buyer may use this document to present an official offer on the seller’s property.
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Realtor Version
Oklahoma Real Estate Commission Listing Agreement – This contract was created by the Oklahoma Real Estate Commission and is used to grant brokers the exclusive rights to list their clients’ property.
Download: PDF
Disclosures / Waivers (4) |
1) Disclosure of Brokerage Duties
The agent’s duties and responsibilities must be disclosed in writing to all potential clients prior to the signing of a listing agreement.
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2) Brokerage Services to Both Parties
A firm providing brokerage services to a buyer and seller must inform both parties written notice prior to any exchange, lease, or sale of property.
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3) Property Disclosure Statement
Sellers are required to give a detailed statement on the condition of the property prior to signing a purchase agreement. A Property Disclaimer Statement must be provided if certain conditions outlined in § 60-833(1) are met.
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If the seller has never lived on the property and has no knowledge of any defect, this statement may be provided instead of the Property Disclosure Statement.
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