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Oklahoma legislature, led by Senator Paul Rosino and Representative Mark Vancren, recently passed Senate Bill 104, which clarifies the difference between marketing practices and buyer inducements for the real estate industry, allowing REALTORS® the freedom to market their businesses like any other.
Prior to the law change, real estate licensees may not provide prizes or items of value to prospective homebuyers. When the new law is enacted on Nov. 1, 2019, REALTORS® will be allowed to use giveaways for marketing purposes as long as receiving the item is not contingent on individuals making an offer or purchasing a specific property.
