{"data":{"id":"us-ok/okla.-stat.-tit.-59-59-858-353","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 59, § 59-858-353","heading":"Broker duties and responsibilities","body":"A. A broker shall have the following duties and\n\nresponsibilities to all parties in a transaction, which are\n\nmandatory and may not be abrogated or waived by a broker:\n\n1. Treat all parties with honesty and exercise reasonable skill\n\nand care;\n\n2. Unless specifically waived in writing by a party to the\n\ntransaction:\n\na. receive all written offers and counteroffers,\n\nb. reduce offers or counteroffers to a written form upon\n\nrequest of any party to a transaction, and\n\nc. present timely all written offers and counteroffers;\n\n3. Timely account for all money and property received by the\n\nbroker;\n\n4. Keep confidential information received from a party or\n\nprospective party confidential. The confidential information shall\n\nnot be disclosed by a firm without the consent of the party\n\ndisclosing the information unless consent to the disclosure is\n\ngranted in writing by the party or prospective party disclosing the\n\ninformation, the disclosure is required by law, or the information\n\nis made public or becomes public as the result of actions from a\n\nsource other than the firm. The following information shall be\n\nconsidered confidential and shall be the only information considered\n\nconfidential in a transaction:\n\na. that a party or prospective party is willing to pay\n\nmore or accept less than what is being offered,\n\nb. that a party or prospective party is willing to agree\n\nto financing terms that are different from those\n\noffered,\n\nc. the motivating factors of the party or prospective\n\nparty purchasing, selling, leasing, optioning or\n\nexchanging the property, and\n\nd. information specifically designated as confidential by\n\na party unless such information is public;\n\n5. Disclose information pertaining to the property as required\n\nby the Residential Property Condition Disclosure Act;\n\n6. Comply with all requirements of The Oklahoma Real Estate\n\nLicense Code and all applicable statutes and rules; and\n\n7. Disclose:\n\na. information pertaining to compensation and fees\n\nassessed on each transaction to the represented party,\n\nwhich shall be communicated in writing before the\n\neffective date of the contract for sale or lease, and\n\nb. the time frame for which the compensation agreement is\n\nvalid, not to exceed one (1) year. If no time frame\n\nis specified, the compensation agreement shall default\n\nto sixty (60) days.\n\nB. A broker shall have the following duties and\n\nresponsibilities only to a party for whom the broker is providing\n\nbrokerage services in a transaction which are mandatory and may not\n\nbe abrogated or waived by a broker:\n\n1. Inform the party in writing when an offer is made that the\n\nparty will be expected to pay certain costs, brokerage service costs\n\nand the approximate amount of the costs; and\n\n2. Keep the party informed regarding the transaction.\n\nC. When working with both parties to a transaction, the duties\n\nand responsibilities set forth in this section shall remain in place\n\nfor both parties.","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":"ec27b032fdce728be4c3e7ad01d8a0d5d0a85bbe58f40bc01341fd83c1d4b890","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-59-59-858-351","next":"us-ok/okla.-stat.-tit.-59-59-858-355.1"},"notice":"GroundRules: Original legal text. Not legal advice."}