SECTION 605:10-3-7. Provisional sales associate post-license education requirement

(a)   Purpose. The purpose of the provisional sales associate post-license education requirement is to provide an educational program through which real estate provisional sales associate licensees can become more competent, knowledgeable and perfect their ability to engage in real estate activities for which they are licensed. Such activities involve facts and concepts which licensees must be knowledgeable in order to safely and confidently conduct real estate negotiations and transactions in the public's best interest.

(b)   Goals. The goals of the provisional sales associate post-license education requirements are:

(1)   To provide newly licensed individuals with the opportunity to obtain current information and knowledge to enable them to conduct real estate negotiations and transactions in a legal and professional manner in order to better protect public interest.

(2)   To assure that licensees are provided with relevant information pertaining to practices which directly relate to real estate business.

(3)   To assure that the provisional sales associate is provided with information regarding new and/or changing laws and regulations which affect the real estate business.

(4)   To assure that the consumers' interest is protected from unknowledgeable licensees.

(c)   Objectives. The objectives of post-license education are to:

(1)   Assist newly licensed individuals by having available a practical educational program wherein the information attained can be put into practice.

(2)   To help licensees expand and enhance their knowledge and expertise so as to continually be effective, competent, and ethical as they practice real estate.

(3)   To encourage licensees to gain additional education for specialization in particular areas of real estate.

(d)   Subject content. On and after July 1, 1993, a provisional sales associate shall be required to successfully complete prior to the first license expiration date, forty-five (45) clock hours of post-license education or its equivalent as determined by the Commission. Such course of study shall be referred to as the Provisional Post-license Course of Real Estate, Part II of II and shall encompass the following areas of study:

(1)   Real Estate Marketplace

(2)   Marketing Real Estate

(3)   Personal Marketing

(4)   The Qualifying Process

(5)   Prospecting and Negotiating

(6)   Financing Real Estate, Investments and Exchanges

(7)   Financial Documents

(8)   Duty to Account

(9)   Title Search

(10)   Risk Management

(11)   At least three (3) clock hours of Broker Relationships with Parties to a Transaction

(12)   Property Management

(13)   At least three (3) clock hours of Laws and Regulations Affecting Real Estate Practice, including Code and Rules

(14)   Disciplinary Action

(15)   At least three (3) clock hours of Contracts and Forms

(16)   At least three (3) clock hours of Professional Conduct and Ethics

(17)   At least three (3) clock hours of Fair Housing.

(e)   Equivalent course content. The Commission may approve and/or accept any offering or combination of offerings which consists of forty-five (45) clock hours or more or its equivalent as determined by the Commission provided by an entity which meets the purposes, goals and objectives of the provisional sales associate post-license education requirement.

(f)   Offerings.

(1)   The Commission may accept the following offerings as proof of meeting the post-license education requirement:

(A)   Any offering which is approved and presented by those entities enumerated in Title 59, O.S.,subsection B, of 858-307.2 of the "Code."

(B)   Any offering in real estate, or directly related area, approved and/or accepted by the real estate regulatory agency in another state; provided such offering is not excluded elsewhere in this Chapter.

(C)   Any offering in real estate, or directly related area, not accepted in paragraphs (A) or (B) of this subsection, which can be determined by the Commission to be in compliance with the intent of the rules of this Chapter.

(2)   The Commission has the authority to disapprove any offering which fails to meet the purposes, goals and objectives of this Section.

(g)   Licensee responsible for notification to Commission. Each provisional sales associate shall be responsible to furnish evidence to the Commission of having successfully completed a Commission approved forty-five (45) clock hour post-license education course or its equivalent as determined by the Commission. Upon successful completion of the post-license education requirement, evidence must be submitted on or before license expiration and on a form approved by the Commission.

(h)   Failure to complete post-license education requirement prior to license expiration. A provisional sales associate who fails to complete the post-license education requirement prior to the first expiration date of the provisional sales associate license, shall not be entitled to renew such license.

(i)   Evidence of completion. As evidence of having completed the education requirement, each provisional sales associate shall present one or more of the following as required by the Commission:

(1)   A certificate, and/or documents, statements and forms, as may reasonably be required by the Commission, or

(2)   A certified transcript; however, if such offering is taken as an accredited C.E.U. (Continuing Education Unit) a certificate may be accepted in lieu of the transcript.

(j)   Attendance and successful completion required for in-class credit. To complete any in-class offering, a person must physically be present during all of the offering time and successfully complete all course requirements and an examination.

(k)   Successful completion of materials and examination required for distance education credit. To complete a distance education offering, a person must successfully complete all course requirements to include all modules and an examination.

(l)   Course limitations. The following course limitations shall apply:

(1)   A provisional sales associate shall only be given credit for courses specifically approved by the Commission.

(2)   Educational courses taken for disciplinary reasons do not count towards the normal post-license education requirement.

(m)   Extension of time for completion of post-license course for provisional sales associate that has received orders for active military service. A provisional sales associate that has received orders for active military service may request an extension of time to complete the post-license education requirement if the request is received in writing prior to the expiration of the license. The request must be accompanied by a copy of the military orders for active military service. The extension of time shall be one (1) year from the date of return from active military service. In conformance with §858-309, a licensee on active military service shall request an inactive status prior to each term for which the license is to be issued. If an extension is approved, a provisional sales associate shall be allowed to renew their license by requesting an inactive status in writing prior to each term for which the license is to be issued.

[Source: Added at 10 Ok Reg 2087, eff 7-1-93; Amended at 15 Ok Reg 3322, eff 7-13-98; Amended at 16 Ok Reg 394, eff 1-1-99 (emergency); Amended at 16 Ok Reg 2561, eff 7-1-99; Amended at 18 Ok Reg 1759, eff 7-1-01; Amended at 18 Ok Reg 3485, eff 8-1-01 (emergency); Amended at 19 Ok Reg 2410, eff 7-1-02; Amended at 21 Ok Reg 2467, eff 7-1-04; Amended at 28 Ok Reg 1812, eff 7-1-11; Amended at 29 Ok Reg 1402, eff 7-1-12; Amended at 32 Ok Reg 2242, eff 11-1-15]