{"data":{"id":"us-ok/okla.-stat.-tit.-59-59-858-102","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 59, § 59-858-102","heading":"Definitions","body":"When used in this Code, unless the context clearly indicates\n\notherwise, the following words and terms shall be construed as\n\nhaving the meanings ascribed to them in this section:\n\n1. The term “real estate” shall include any interest or estate\n\nin real property, within or without the State of Oklahoma, whether\n\nvested, contingent or future, corporeal or incorporeal, freehold or\n\nnonfreehold, and including leaseholds, options and unit ownership\n\nestates to include condominiums, time-shared ownerships and\n\ncooperatives; provided, however, that the term real estate shall not\n\ninclude oil, gas or other mineral interests, or oil, gas or other\n\nmineral leases; and provided further, that the provisions of this\n\nCode shall not apply to any oil, gas, or mineral interest or lease\n\nor the sale, purchase or exchange thereof;\n\n2. The term “broker” shall include any person, partnership,\n\nlimited liability company, association, corporation, or business\n\nentity, foreign or domestic, who for a fee, commission, or other\n\nvaluable consideration, or who with the intention or expectation of\n\nreceiving or collecting a fee, commission, or other valuable\n\nconsideration, performs any of the following acts:\n\na. sells, exchanges, purchases, rents, or leases real\n\nestate,\n\nb. offers to sell, exchange, purchase, rent, or lease\n\nreal estate,\n\nc. negotiates or attempts to negotiate the listing, sale,\n\nexchange, purchase, rent, or lease of real estate,\n\nd. lists or offers, attempts, or agrees to list real\n\nestate for sale, exchange, rent or lease,\n\ne. auctions or offers, attempts, or agrees to auction\n\nreal estate,\n\nf. controls the acceptance or deposit of rent from a\n\nresident of a single-family residential real property\n\nunit,\n\ng. solicits listings of places for rent or lease,\n\nh. solicits for prospective tenants, purchasers, or\n\nsellers, or\n\ni. advertises or holds himself or herself out as engaged\n\nin such activities;\n\n3. The term “broker associate” shall include any person who has\n\nqualified for a license as a broker associate, and who is employed\n\nor engaged by, associated as an independent contractor with, or on\n\nbehalf of and with the permission of a broker to perform any act set\n\nout in the definition of a broker;\n\n4. The term “business day” means any calendar day except for\n\nSaturday, Sunday, or any public holiday recognized by state or\n\nfederal law;\n\n5. The term “contract” means any agreement or arrangement,\n\nincluding power of attorney, for the purchase, sale, or assignment\n\nof real estate;\n\n6. The term “homeowner” means any individual, entity, trust, or\n\npartnership holding title to residential property;\n\n7. The term “real estate sales associate” shall include any\n\nperson having a renewable license and employed or engaged by, or\n\nassociated as an independent contractor with, or on behalf of, a\n\nbroker to do or deal in any act, acts or transactions set out in the\n\ndefinition of a broker;\n\n8. “Provisional sales associate” shall include any person who\n\nhas been licensed after June 30, 1993, employed or engaged by, or\n\nassociated as an independent contractor with, or on behalf of, a\n\nbroker to do or deal in any act, acts or transactions set out in the\n\ndefinition of a broker and subject to an additional forty-five-\n\nclock-hour postlicensing educational requirement to be completed\n\nwithin the first twelve-month license term. However, the Oklahoma\n\nReal Estate Commission shall promulgate rules for those persons\n\ncalled into active military service for purposes of satisfying the\n\npostlicensing educational requirement. The license of a provisional\n\nsales associate shall be nonrenewable unless the postlicensing\n\nrequirement is satisfied prior to the expiration date of the\n\nlicense. Further, the terms sales associate and provisional sales\n\nassociate shall be synonymous in meaning except where specific\n\nexceptions are addressed in the Oklahoma Real Estate License Code;\nng the\n\npostlicensing educational requirement. The license of a provisional\n\nsales associate shall be nonrenewable unless the postlicensing\n\nrequirement is satisfied prior to the expiration date of the\n\nlicense. Further, the terms sales associate and provisional sales\n\nassociate shall be synonymous in meaning except where specific\n\nexceptions are addressed in the Oklahoma Real Estate License Code;\n\n9. The term “successful completion” shall include prelicense,\n\npostlicense, and distance education courses in which an approved\n\npublic or private school entity has examined the individual, to the\n\nsatisfaction of the entity and standards as established by the\n\nCommission, in relation to the course material presented during the\n\noffering;\n\n10. The term “renewable license” shall refer to a broker,\n\nbroker associate or sales associate who is a holder of such license\n\nor to a provisional sales associate who has completed the\n\neducational requirements within the required time period as stated\n\nin the Code;\n\n11. The term “nonrenewable license” shall refer to a\n\nprovisional sales associate who is the holder of such license and\n\nwho has not completed the postlicense educational requirement within\n\nthe required time period as stated in the Code;\n\n12. The term “surrendered license” shall refer to a real estate\n\nlicense which is surrendered, upon the request of the licensee, due\n\nto a pending investigation or disciplinary proceedings;\n\n13. The term “canceled license” shall refer to a real estate\n\nlicense which is canceled, upon the request of the licensee and\n\napproval of the Commission, due to a personal reason or conflict;\n\n14. The term “publicly market” shall include all advertisements\n\nand marketing conducted in a public or open manner or place;\n\n15. “Licensee” shall include any person who performs any act,\n\nacts or transactions set out in the definition of a broker and\n\nlicensed under the Oklahoma Real Estate License Code;\n\n16. The word “Commission” shall mean the Oklahoma Real Estate\n\nCommission;\n\n17. The word “person” shall include and mean every individual,\n\npartnership, association or corporation, foreign or domestic;\n\n18. Masculine words shall include the feminine and neuter, and\n\nthe singular includes the plural;\n\n19. The word “associate” shall mean a broker associate, sales\n\nassociate or provisional sales associate; and\n\n20. The term “wholesaler” means any individual or entity\n\nengaging in the business of securing, negotiating, or facilitating\n\nthe sale of residential real estate for the primary purpose of\n\ntransferring, assigning, or selling their equitable interest in the\n\nproperty, directly or indirectly, for financial profit. This\n\nincludes any person or entity that:\n\na. enters into a contract to purchase residential real\n\nestate with the intent of assigning or selling the\n\ncontractual rights to another party before taking\n\npossession or legal ownership of such residential real\n\nestate, and\n\nb. engages in double closing. As used in this paragraph,\n\n“double closing” means the wholesaler simultaneously\n\ncloses two separate transactions on the same property,\n\none with the original seller and one with the end\n\nbuyer, without the intent to reside in or otherwise\n\nmaterially improve such residential real estate.","path":["OK Code","Title 59"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os59.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"8e7d5b73483322e1d34e2920ea0c9a05a162878ebc949ca268cc79c9348133c9","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-59-59-858-101","next":"us-ok/okla.-stat.-tit.-59-59-858-201"},"notice":"GroundRules: Original legal text. Not legal advice."}