PSI Oklahoma Real Estate Practice Test

Who is required to have a real estate license according to Oklahoma Real Estate license law?

1. Attorney at law performing real estate services in his or her law practice

2. Any individual involved in property management

3. Only real estate agents with a sales history

4. Builders who sell new constructions

The correct answer is: Attorney at law performing real estate services in his or her law practice

In the context of Oklahoma real estate license law, certain exceptions exist regarding who is required to have a real estate license. An attorney at law performing real estate services in the scope of their law practice does not need to obtain a separate real estate license because the practice of law is distinct from real estate services. Attorneys can engage in activities such as negotiating contracts, conducting closings, or advising clients regarding property transactions without being licensed as real estate agents. The other choices present scenarios where licensure is generally required. Individuals involved in property management typically need a real estate license to act on behalf of property owners. Real estate agents must possess the appropriate license, regardless of their sales history, to practice legally in the field. Lastly, builders selling new constructions are also required to have a real estate license, as they are engaging in the sale of real property. Thus, the specific role of an attorney in their professional capacity provides the clear rationale for their exemption from needing a real estate license in this context.