Oklahoma​ Out of State Broker Cooperation- An out-of-state licensee can share a commission with the Oklahoma licensee, as long as all licensed services for which the out-of-state licensee receives compensation are performed in out-of-state licensee's state of licensure.
- An out-of-state licensee can bring a lawsuit to recover a commission. |
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Oklahoma Real Estate ReciprocityAlabama, Arkansas, Iowa, Louisiana, Maryland, Nebraska, North Dakota, South Dakota.
Confirmed by the Oklahoma Real estate Commission |
Specific to Oklahoma Real Estate |
Oklahoma Reverse ReciprocityThese states specifically mention Oklahoma in their Reciprocity: Arkansas, Connecticut, Louisiana, Maryland, Minnesota, New York, Ohio These States recognize any other State licenses but may have additional requirements: Alaska, Alabama, Colorado, Georgia, Idaho, Indiana, Kansas, Kentucky, Maine, Nebraska, North Carolina, Rhode Island, South Dakota, Tennessee, Vermont, Washington |
Oklahoma Real Estate LinksNo Reciprocity Page (but reciprocity is discussed under "Applying for a License Under Another Jurisdiction" here) Licensing Info Page Oklahoma Real Estate Commission |
Oklahoma Real Estate Customs
Title companies, lenders, real estate agents, and attorneys may conduct closings.
Conveyance is by warranty deed. Mortgages are the usual security instruments.
Foreclosures may be by judicial action or by power of sale if properly allowed for in the security instrument.
Oklahoma uses ALTA policies and endorsements.
Buyers and sellers share the closing costs, except that the buyer pays the lender’s policy premium, the seller pays the documentary transfer tax, and the lender pays the mortgage tax.
Property taxes may be paid annually on or before the last day of the year or semi-annually.
Conveyance is by warranty deed. Mortgages are the usual security instruments.
Foreclosures may be by judicial action or by power of sale if properly allowed for in the security instrument.
Oklahoma uses ALTA policies and endorsements.
Buyers and sellers share the closing costs, except that the buyer pays the lender’s policy premium, the seller pays the documentary transfer tax, and the lender pays the mortgage tax.
Property taxes may be paid annually on or before the last day of the year or semi-annually.
