No longer will local MLSs be used as advertising mediums for FSBO-minded sellers who want the exposure of the MLS for minimum costs in Oklahoma. Brokers who thought they were providing genuine "service" to consumers by entering them into the MLS without providing any other service have just found out that even the Governor doesn't think that's a good idea for consumers -- even if that's what they want.

SB673, the bill sponsored by the Oklahoma Association of REALTORS®, was signed into law yesterday by Governor Brad Henry.

"We couldn't be more pleased that the Governor chose to protect consumers by upholding the protections outlined in Oklahoma's Broker Relationships Act," OAR President Theresa Stewart of Ada said. "This is a victory for both the real estate industry and Oklahoma consumers."

The consumer protections outlined in Oklahoma's Broker Relationships Act, which are reiterated in SB673, include treating all parties with honesty, timely presentation of all written offers and counteroffers, timely accounting for all money and property received by the broker, providing a written estimate of closing costs and disclosing information about the property as required by the Residential Property Condition Disclosure Act.

OAR says it supported the bill because it strengthens statutes already in existence. "All along, we've said SB673 is about upholding Oklahoma's Broker Relationships Act, and this new law ensures that Oklahoma consumers will still receive the protections they deserve when dealing with a licensed real estate professional," Stewart says.

SB673 was authored by Senator Jay Paul Gumm, D-Durant, a former Realtor, and Representative Doug Miller, R-Norman. The bill passed the State Senate on May 19 with a 40-4 vote and passed the House of Representatives on May 25 with an 89-7 vote. Since SB673 contains an emergency clause, the law goes into effect immediately with the Governor's signature.

Texas is waiting on Governor Rick Perry to sign a similar bill that has already passed through the House and Senate. Rep. Joe Pickett, D-El Paso, who sponsored the legislation, attached the amendment to a housekeeping bill last month requiring real estate brokers to do more than use the MLS as an advertising medium for sellers. A former Realtor, Pickett called for all agents who list homes for sale to present offers from buyers to the sellers and to be available to answer clients' questions.

This action took the heat off of the Texas Real Estate Commission (TREC), which was considering rules to do the same. TREC attorneys were contacted by the Department of Justice and Federal Trade Commission to reconsider the rules, but when Pickett drove the bill through the legislature, it took federal attention away from TREC.

Governor Perry is expected to sign the bill within the next couple of weeks.

Published: June 8, 2005

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Blanche Evans is the award-winning senior editor of Realty Times, the Internet's leading independent real estate news service. She is featured daily on the Realty Times Video Network in the "Realty Viewpoint" segment. Blanche has been named one of the "25 Most Influential People In Real Estate" by REALTOR Magazine, and has been twice recognized as a "notable." In 2005, she was named "Top Reporter Covering the NAR" by Delahaye-Bacon's. Blanche is a renowned author of five real estate books. Her newest, Bubbles, Booms and Busts: Make Money In Any Real Estate Market, McGraw-Hill, was rave-reviewed by The New York Times. She was also selected from hundreds of real estate experts to contribute to Donald Trump's book, Trump: The Best Real Estate Advice I Ever Received: 100 Top Experts Share Their Strategies, Rutledge Hill Press, and is featured on page 68. Order Now Review - Honors In 2006, Blanche was selected among scores of candidates to author two consumer real estate guidebooks for the National Association of Realtors: The NAR Guide to Home Buying, and The NAR Guide to Home Selling, Wiley & Sons. She is currently planning two new books for the NAR and its members.       Known for her keen insight into real estate industry issues and for her ability to make complex subjects easy to understand, Blanche is a sought-after keynote and continuing education speaker. Real estate organizations from MLSs, to brokerages, to franchisors, to associations hire her to provide up-to-the-minute analysis of real estate industry news and advice on how to improve revenues. Her passionate delivery, peppered with stinging wit, is a huge hit with audiences and fans. Don Klein, CEO Greater Nashville Association of Realtors, Blanche Evans, Richard Courtney, president 2007, GRAR "The GNAR membership meeting last week featured Blanche Evans as the keynote speaker. Her comments and insights resonated extremely well with those in attendance and we have had many requests for copies of her PowerPoint Presentation. She was a terrific part of the membership meeting and convention program!" - Don Klein, CEO Greater Nashville Association of Realtors Coverage from WSMV, Nashville - 8-14-2007 That Interview Guy - Get Inside The Head Of Today's Generation 2007 AE Institute Session - To purchase 2006 AE Institute Session - Parts 1 2 3 4 5 6 7 8 9 HouseValues Mastermind call - Parts 1 2 Blanche's fireside chat with Jeremy Conaway, HAR - Click here. To contact Blanche, email her at . For more articles by Blanche, click here.