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Just Two Choices

1. Single Party Broker
A Single-party broker has entered into a written brokerage agreement with a party in a transaction to provide services for the benefit of that Party.Duties of the Single Party Broker:
1. To perform the terms of the brokerage agreement
2. To treat all parties with honesty:
3. To comply with all requirements of the Oklahoma Real Estate License Code and all applicable statutes and rules
4. To exercise reasonable skill and care including:
a. timely presentation of all written offers at and counteroffers,
b. keeping the party for whom the single-party broker is performing services fully informed regarding the transaction.
c. timely accounting for all money and property received by the broker.
d. keeping confidential information received from a party confidential as required by 858-357 of this act,
e. performing all brokerage activities for the benefit of the party for whom the single-party broker is performing services unless prohibited by law,
f. disclosing information pertaining to the property as required by the Residential Property Condition Disclosure Act, and
g. obeying the specific directions of the party for whom the single-party broker is performing services that are not contrary to applicable statutes and rules or contrary to the terms of a contract between the parties to the transaction.
A Single Party Broker is authorized to accept delivery of a contract between the parties to a transaction on behalf of the party for whom the broker is performing single party brokerage services.
A party employing a Single Party broker may be held vicariously liable for that broker's actions.
Single Party Brokerage agreements must be in writing by law.
For A PDF file of this Course.
Brokerage Relationships Act Tapes
Last Update: 7 MAY 2001
Web Author: Vince Mooney, 918-665-0478
Copyright ©2001 by Vince Mooney Real Estate School & Seminars - ALL RIGHTS
RESERVED