The Oklahoma Real Estate Commission (OREC) sends this information as posted below:
OKLAHOMA CITY (October 20, 2025) – Officials with the Oklahoma Real Estate Commission (OREC) today announced that landmark consumer protection legislation aimed at creating transparency and fairness in the practice of real estate wholesaling will take effect Nov. 1. Senate Bill 1075 sets forth comprehensive new requirements for all real estate wholesalers engaging in residential real estate transactions and arms Oklahoma homeowners with critical tools to make informed, empowered decisions.
“The passage of SB 1075 marks a significant milestone for Oklahomans and the real estate industry as a whole,” said Bailey Crotty, OREC Executive Director. “By working together with legislators and stakeholders, we’ve taken meaningful steps to protect homeowners and ensure that real estate transactions remain fair, transparent and ethical. This new law safeguards homeowners while setting forth clear expectations for wholesalers to continue their business in the state. We appreciate the lawmakers who championed this important measure for the benefit of all Oklahomans.”
Under the new law, real estate wholesalers must provide clear written disclosures to homeowners before any contracts are executed. These disclosures highlight the wholesaler’s intent to resell the property at a higher value, inform homeowners of their right to seek legal counsel and notify them of their right to cancel the contract within two business days without penalty.
SB 1075 also prohibits wholesalers from misrepresenting themselves as licensed professionals or acting as advisors when not licensed and strictly bars any attempts to place liens or cloud property titles.
“Currently, predatory wholesalers often use misleading tactics to pressure homeowners into quick sales,” Crotty added. “SB 1075 corrects those imbalances, deterring predatory practices while supporting transparency and trust in every transaction.”
To bolster oversight, the legislation defines “wholesaler” and mandates that all contracts contain vital details, including the wholesaler’s contact information, terms of payment and a standardized cancellation notice developed by OREC. If any required elements are missing, the contract becomes invalid and unenforceable, with homeowners entitled to any earnest money provided in the transaction. All earnest money deposits for wholesale transactions also must now be held in an Oklahoma FDIC-insured bank, reinforcing financial security for sellers.
For situations where a contract is canceled and a dispute arises, the courts will rule on the matter, with the Attorney General’s office empowered to step in if there are widespread or predatory issues.
OREC encourages homeowners to research their property’s value prior to engaging with any buyer. Homeowners can request free comparative market analyses from any licensed Oklahoma brokerage.
“Wholesaling plays a legitimate role in the real estate market,” said Matt Holder, OREC Education Director. “Every homeowner’s situation is different. Sometimes, time is the driving factor, and wholesalers can provide an option for sellers who need to move quickly. SB 1075 isn’t about stopping those transactions; it’s about making sure they’re conducted with transparency and fairness. Many wholesalers, especially those who also are licensed real estate professionals, already were taking the time to explain a seller’s options and help them achieve their goals. This new law adds safeguards for consumers and ensures that a baseline of clarity and professionalism becomes the standard across the industry.”
By enacting SB 1075, Oklahoma reaffirms its dedication to fostering a real estate market rooted in fairness, openness and confidence for every homeowner, in every community.
About the Oklahoma Real Estate Commission (OREC)
The Oklahoma Real Estate Commission is a non-appropriated state agency responsible for licensing and regulating over 24,000 licensees operating across residential, commercial, agricultural and industrial real estate. OREC investigates and prosecutes over 500 complaints each year, protecting Oklahoma real estate consumers by ensuring real estate professionals comply with state laws. The agency also approves schools and instructors for pre-licensing and continuing education and provides resources to keep consumers and licensees informed about legal, regulatory and industry changes. More information about OREC is available at orec.ok.gov.
About SB 1075
Signed in May 2025 and effective Nov. 1, 2025, Oklahoma Senate Bill 1075 is a new law that establishes clear rules for real estate wholesaling in Oklahoma, protecting property owners from deceptive or high-pressure practices while allowing legitimate wholesaling to continue in Oklahoma. SB 1075 requires wholesalers to provide written disclosures before any agreement is signed, including their intent to sell or assign an interest in the property for a higher price and a recommendation that the homeowner seek independent legal counsel. The law also prohibits wholesalers from acting as an advisor to the homeowner, presenting themselves as certified in a profession if they do not hold that certification and placing a lien on the homeowner’s property (also known as “clouding a title”). In addition, the law gives homeowners a right to cancel a wholesale real estate contract without penalty within two business days and states that any wholesale contract that fails to include the required disclosures will be unenforceable by the wholesalers, deemed invalid, and entitle the homeowner to keep any earnest money collected during the sale of their home. SB 1075 is implemented and enforced by the Oklahoma Real Estate Commission (OREC).
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