What's an Oklahoma Broker-in-Charge?

Oklahoma! Where the wind comes sweeping down the plain!  Musical numbers aside, Oklahoma is a unique state when it comes to real estate licenses. Most states have 2-3 different license types, one for new agents, an intermediary license, and one for brokers running their own business. Not Oklahoma! Oklahoma has six different licenses for people to help others buy and sell real estate.

Maybe you’re new to real estate and what to know more about being a broker. Maybe you’re already an Oklahoma agent and wondering if it’s the right time to get your broker’s license? Maybe you’re a real estate super-nerd and want to learn everything about real estate even if you are not licensed in Oklahoma and never plan to be. Maybe you clicked on the link because you love Oklahoma! the musical and decided to stick with me because of my welcoming and straightforward writing style! 

In any event, this blog post is to provide information on the different types of broker licenses you can get in Oklahoma. We’re not here to talk about the first two licenses you need to become a broker in Oklahoma. You’re going to learn the differences between Proprietor Brokers, Branch Brokers, and Broker Managers, the requirements for each, and a secret that most real estate schools won’t tell you! 

Broker or Broker in Charge?

This is going to be an easy misconception to dispel. When it comes to the name of the license issued by the Oklahoma Real Estate Commission, broker-in-charge is not a license in Oklahoma. That is just the name of the education course required for any of the four broker licenses. 

A broker in Oklahoma is the person legally authorized and responsible for real estate transactions. Provisional sales associates, sales associates, and broker associates are licenses that all operate under the supervision of a licensed real estate broker.  

What the heck is a Broker Associate?

A Broker associate license is an intermediate type of license. Like a broker’s license, you need to be licensed as a sales associate for 2 years, provide proof of 10 real estate transactions you were the agent on, and take the 15-hour Broker in Charge course  .

To get a broker license, you would also need to complete the 90-hour Advanced Real Estate Course and take a state broker license exam. The difference between the two is a little bit of education and test!

Luckily, Perry Real Estate College offers both courses in a package to help save time and money. There is no statute or regulation that says you have to be a broker associate. Sales associates with the required experience, transactions, and education can become brokers without having to be a broker associate.

So does Oklahoma have three licenses or six?!   

It depends on who you work for! The Oklahoma Real Estate Commission requires up to 6 different licenses that require different applications and designations. The first and second are the provisional sales associate and sales associate licenses, respectively. 

After 2 years as a sales associate (and some additional education), you can register as a broker associate or a broker if you want! When you become a broker though, you have to designate your license in one of three options based on where you plan on working as a broker.

You can designate your license as a sole Proprietor broker. That means you’re running your own show and your own brokerage firm. Associates operate under your control, and you get all the responsibilities and rewards of running your own business.

You could also designate your license as a Broker Manager if you are already working for a broker corporation, LLC, or corporate entity. You may not be on your own as you have a corporate structure to work with and support you, but you are responsible for the associated licenses of the corporation.

Lastly, you could be a Branch Broker or a branch office broker. This is somewhat similar to a broker manager, as you have similar responsibilities as a Proprietor Broker and a Broker manager, but they are limited to the branch office you operate out of. As a Branch Broker, you are associated with your Broker Manager’s or Proprietor Broker’s license.

So, what’s the secret?

Okay, it’s not really a secret because it is available on the OK Real Estate Commission’s website. If you have any of the 4 broker licenses, you must complete the 15-hour Broker-in-Charge course every 3 years you are licensed. The secret is you can get it at Perry Real Estate College as an individual course as well as in our Broker package!

If you have questions about which broker designation you need, feel free to reach out to us. If you have any questions about getting your real estate license in Oklahoma, you can reach us by call, text, email, or live chat too! It may not be a brand-new state anymore, but it certainly is Oklahoma O.K.!