OK Real Estate case studies
OK Real Estate · Put your knowledge to work in context.
The Oklahoma Real Estate Licensing Examination is the state exam administered as part of the process of obtaining a real estate sales associate license in Oklahoma. The Oklahoma Real Estate Commission (OREC) oversees licensing, and the exam is the final knowledge check a candidate clears after completing the required prelicense coursework and before submitting a license application. The OK Real Estate case studies are 5 cases and about 2,631 words.
1The Expired License and the Unlicensed Assistant
Broker Reyes supervises Dana, a sales associate at Sooner Sky Realty. Dana's license lapsed March 31 because she did not finish her required continuing education.
561 words, about 3 min2The Seller's Bottom Line and the Buyer Who Wants It All
Marta is the listing associate for Alan, who is divorcing and has told Marta in confidence that he would accept 285,000 even though the home is listed at 305,000. Chen, an unrepresented buyer, tours the home and asks Marta, "What is Alan's bottom line, and is he desperate to sell?" Chen then asks Marta to show him three other homes and "be my agent too, so I don't have to deal with two agents." Alan has already told Marta he will not consent to dual agency on his home.
536 words, about 3 min3The Counteroffer, the Late Earnest Money, and the Missed Inspection
Priya offers 318,000 for a home listed at 325,000 with 6,000 earnest money "due within 3 business days after acceptance," a 7-day inspection period, a 21-day financing contingency, and a 40-day closing. Seller counters at 323,000, shortens inspection to 4 days, and makes earnest money due "upon signing." Priya signs and emails the counter at 9 p.m.
520 words, about 3 min4The Closing Disclosure That Changed the Deal
Marcus is buying a 260,000 home with 10% down and a 234,000 loan. His Loan Estimate shows a 6.25% rate, 5,900 in closing costs, and a 4,000 seller concession.
504 words, about 3 min5Commingled Deposits and a Blanket "No Children" Policy
Nia is the broker-owner of Prairie Management. She deposits tenant security deposits and monthly rent into the company's operating account, uses deposit money to pay an owner for a roof repair, and once transferred $2,000 to payroll, replacing it eight days later.
510 words, about 3 min