Per OREC: A team is any two or more licensees who work under the supervision of the same broker, work together on real estate transactions to provide brokerage services, represent themselves to the public as being a part of team and are designated by a team name.
As of November 1, 2017, all real estate teams are required to register with the Oklahoma Real Estate Commission for a one-time fee of $100. If you are advertising under a team name, including on social media, that team must be registered with the OREC.
Although more than 400 teams have registered, there are many teams out there who have not. OREC has several investigations against teams and brokerages for failing to register and will continue to investigate these complaints as they are brought forward. To avoid investigation and possible sanctions, please make sure your real estate team is registered. Click here for more information on team registration, and click here to download the team registration form.