OKLAHOMA REAL ESTATE COMMISSION

MISSION STATEMENT
The mission of the Commission is to safeguard the public interest by requiring high standards of knowledge and ethical practices of licensees to: discilpine licensees who engage in dishonest, fraudulent or criminal activities in conduct of real estate transaction; and to facilitate the prosecution of any person who is found in violation of the Oklahoma Real Estate License Code.

THE BOARD
The Commission is composed of seven members appointed by the Governor with the advice and consent of the Senate to serve a term of three years. Five members are licensed real estate brokers who have had at least five years active experience as a real estate broker prior to their appointment, one member is a lay person not in th real estate business, and one member is a representative of an approved real estate school located within the State of Oklahoma. No more than two members may be appointed from the same Congressional District according to the latest Congressional Redistricting Act.

DUTIES / RESPONSIBILITIES
The duties and responsibilities of the Commission are to prescribe minimum educational requirements for real estate sales associate and broker license applicants, to prescribe, approve, monitor and record continuing education offerings, monitor the activities of licensees to insure that operational standards are maintained with statutory limits and standards of conduct established by the Commission, to revoke or suspend a license when unprofessional standards are noted, and to maintain and administer an Education and Recovery Fund for the purpose of reimbursing persons suffering monetary damages because of misconduct on the part of a licensee, as well as to provide educational projects for the benefit of licensees and the public.

STATUTORY REFERENCES
Title 59, Sections 858-101 et seq, of the Oklahoma Statutes

PERFORMANCE CRITERIA / SERVICES PROVIDED

                                               FY-93      FY-94        FY-95
Criteria/Service:                             Actual      Actual     Budgeted
Examinations
 Broker examination sessions                   254          254          254
 Sales Associate examination sessions          254          254          254
 Broker examinations given                      40           68           68
 Sales Associate examinations given          2,300        1,925        1,925
 Formal sworn complaints received              110          127          127
 Inquiries (complaint & technical)           2,800 
License & Application Investigations
 Formal Sworn Complaints Received              110          127          127
 Complaint initiated investigations            130          149          149
 Commission initiated investigations            40           22           22
 Applicant investigations                       15           18           18
 Formal Hearings                                40           43           43
 Preliminary Investigations Sessions             0            8            8
 Special Investigations                          0           66           66
 Application Hearings                           15           18           18
 School Inspections                              0           20           20
 Real Estate Office Inspections                  0           40           40
 Subponenas Delivered                            0           22           22
 Licenses issued (original & renewals)       8,047        7,696        7,696
 Update Licenses Issued
  change of address, change of assoc.,       4,689        4,858        4,858
Education
 Workshops and Seminars conducted               80          102          102
 Pre-license course approvals                    3            5            5
 Continuing Education course approval        1,450        1,525        1,525
 Continuing Education Recordings            30,235       26,357       26,357
 File and inquiry maint. (# of licensees    23,511       23,840       23,840
 Request letters and Telephone request       4,021        4,021        4,021
 

EXPENDITURES BY FUND

                                             FY-93        FY-94       FY-95
Type of Fund:                               Actual       Actual     Budgeted
 State Appropriated Funds                       $0           $0           $0
 State Continuing/Revolving Funds:
   200 Revolving Fund                     $972,393     $942,888     $986,673
   210 Education & Recovery Fund            95,198       67,266      112,860
   Total of Revolving Funds             $1,067,591   $1,010,154   $1,099,533
 Federal Funds                                  $0           $0           $0
Total Expenditures by Fund              $1,067,591   $1,010,154   $1,099,533

EXPENDITURES BY OBJECT

                                             FY-93        FY-94       FY-95
Object of Expenditure                       Actual       Actual     Budgeted
Salaries and Benefits                     $606,450     $616,344     $611,973
Professional Services                      157,205      124,896      148,500
Travel                                      36,967       32,501       44,000
Lease-Purchase Expenditures                  7,363        6,208       10,500
Equipment                                   40,699       12,664       23,200
Payments to Local Govt. Subdivisions             0            0            0
Other Operating Expenses                   218,907      217,541      261,360
Total Expenditures by Object            $1,067,591   $1,010,154   $1,099,533

EXPENDITURES BY BUDGET ACTIVITY / SUB-ACTIVITY

                                             FY-93        FY-94       FY-95
Activity No. and Name                       Actual       Actual     Budgeted
 01 General Operations                    $887,633     $884,695     $926,473
 02 Education Program                       95,198       67,266       92,000
 03 Recovery Program                                                  20,860
 88 Data Processing                         84,760       58,193       60,200
Total Expenditures by Activity          $1,067,591   $1,010,154   $1,099,533

FULL-TIME-EQUIVALENT EMPLOYEES (FTE) and VEHICLES

                                             FY-93        FY-94       FY-95
Activity No. and Name                       Actual       Actual     Budgeted
 01 General Operations                        18.2         18.0         18.0
Total FTE                                     18.2         18.0         18.0

Number of Vehicles                               0            0            0
 

HISTORICAL PERSPECTIVE / REVIEW
The Real Estate Commission is a self-sustaining regulatory board established in 1949, which generates funds by examining and licensing real estate sales associates and real estate brokers. After several years of declining revenues in the mid to late 1980's, the legislature approved an increase in fees effective May 12, 1989 and later, in July 1989, the Commission automated many functions within the agency onto an in-house computer network system.


he commission funded a reference library through cooperation with the State Department of Education, which began operation during February 1992. The library contains books, tapes, and video tapes; many of which are available for loan, free of charge to licensees and real estate instructors. Television talkback seminars have been conducted by the commission for continuing education credit towards licensee's renewal to meet new educational requirements which go into effect July 1, 1993. In 1992-1993 the commission developed and published the basic and advanced pre-license syllabi, as well as the post-license syllabus for provisional sales associates.


The Commission, in 1991, created a new license type called Provisional Sales Associate. This type of license has additional education requirement of 45 hours that must be taken within the first three-year license period. The Commission adjusted the continuing education requirements accordingly, and both actions became effective July 1, 1993.


In 1992, the Commission received two educational awards at the Annual Conference of the National Association of License Law Officials. Of the 13 categories that were awarded at the conference, Oklahoma received one for the Commission's consumer education program "It's Your Move", and the other for the Commission's Instructor Development Workshops, which are presented annually for all real estate instructors.


In 1993, the Commission was given the authority to impose fines on licensees for violations of the Code of Rules and to apply for injunctions for unlicensed activity.