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 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.
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.