O
klahoma Real Estate Commission (OREC) – 20 Oct 2025
OREC today announced that Senate Bill 1075, a consumer‑protection measure for real‑estate wholesaling, will become effective 1 Nov 2025. The bill imposes new rules on all wholesalers dealing in residential property and equips homeowners with tools to make informed decisions.
Executive Director Bailey Crotty said, “SB 1075 is a major step for Oklahomans and the real‑estate industry. By collaborating with lawmakers and stakeholders, we’ve strengthened homeowner protection while setting clear expectations for wholesalers. We thank the legislators who championed this vital law.”
Key provisions of the law require wholesalers to give homeowners written disclosures before any contract is signed. Disclosures must state the wholesaler’s intent to resell the property at a higher price, advise the homeowner to seek legal counsel, and inform them of a two‑business‑day right to cancel the contract without penalty.
The bill also bars wholesalers from falsely presenting themselves as licensed professionals, from acting as advisors when unlicensed, and from placing liens or otherwise clouding a property title. Crotty noted, “Predatory wholesalers often use deceptive tactics. SB 1075 corrects these imbalances, deterring predatory practices while promoting transparency and trust.”
OREC has defined “wholesaler” and requires that every contract include the wholesaler’s contact details, payment terms, and a standardized cancellation notice created by OREC. Contracts missing any required element are void and unenforceable, and the homeowner is entitled to any earnest money paid. All earnest money deposits for wholesale transactions must now be held in an Oklahoma FDIC‑insured bank, ensuring financial security for sellers.
If a contract is canceled and a dispute arises, courts will decide the matter, and the Attorney General’s office may intervene in cases of widespread or predatory conduct.
OREC urges homeowners to research their property’s value before engaging any buyer. Free comparative market analyses are available from any licensed Oklahoma brokerage.
Education Director Matt Holder added, “Wholesaling serves a legitimate role in the market. Some sellers need to move quickly, and wholesalers can provide that option. SB 1075 isn’t about stopping those transactions; it’s about ensuring they’re conducted with transparency and fairness. Many wholesalers already explain options and help sellers achieve their goals. This law adds safeguards and sets a baseline of clarity and professionalism across the industry.”
By enacting SB 1075, Oklahoma reaffirms its commitment to a real‑estate market built on fairness, openness, and confidence for every homeowner in every community.
**About OREC**
OREC is a non‑appropriated state agency that licenses and regulates over 24,000 real‑estate professionals in residential, commercial, agricultural, and industrial sectors. The commission investigates and prosecutes more than 500 complaints annually, approves pre‑licensing and continuing‑education programs, and provides resources on legal and regulatory changes. More information at orec.ok.gov.
**About SB 1075**
Signed in May 2025 and effective 1 Nov 2025, Senate Bill 1075 establishes clear rules for real‑estate wholesaling in Oklahoma. It protects property owners from deceptive or high‑pressure practices while allowing legitimate wholesaling to continue. The law requires wholesalers to provide written disclosures before any agreement is signed, prohibits them from acting as advisors or presenting themselves as certified professionals if they are not, and forbids placing liens on a homeowner’s property. Homeowners gain a two‑business‑day right to cancel contracts without penalty, and any contract lacking required disclosures is unenforceable, entitling the homeowner to retain earnest money. OREC implements and enforces the law.
