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Dear Licensee,
In light of recent developments and the ongoing changes within our industry, we want to take a moment to address some important updates and resources that are pertinent to all of us.
Firstly, we acknowledge the uncertainty stirred by the recent headlines regarding the settlement with the National Association of Realtors. Rest assured, the Oklahoma Real Estate Commission is actively updating the buyer broker agreement to align with these changes. Expect to see the revised agreement and accompanying educational resources this June.
Additionally, our new testing protocol is now in effect. The licensing exam is divided into two parts: state and national. It's crucial that educators inform students of this structure, as passing both segments is necessary for licensure. Remember, should you need to retake the exam, you will only sit for the portion you did not pass.
We urge all licensees to update their contact information via the license portal promptly. With ongoing industry changes, staying informed is more critical than ever.
Post-tax season, we've noted queries about commission payments to business entities. We have included a resource link in this newsletter to assist you in setting this up.
Given the uptick in advertising-related complaints, we strongly encourage a review of our included advertising checklist to ensure compliance. Also, don't miss our free advertising webinar in May, which will offer further guidance and continuing education credit.
With the selling season here, remember the Supreme Court of Oklahoma's Mediation service—a free resource that can save you both time and expense in dispute resolution.
We also encourage you to stay informed about legislative developments affecting real estate with our link to the Oklahoma Association of Realtors' legislative tracker.
Lastly, the FTC has issued new guidelines on noncompete agreements. A link to their press release is included for your convenience.
We look forward to your participation in our May Commission meeting, which will be streamed live via Zoom.
Thank you for your continued dedication and professionalism.
Best Regards,
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