Senate Bill No. 877 amends various sections of the Oklahoma Real Estate License Code to enhance regulations surrounding real estate licensing and education. Key provisions include the requirement for real estate licensees to complete a specified number of continuing education hours, which must now include training on deed theft, defined in the bill. The Oklahoma Real Estate Commission is tasked with promulgating rules related to these educational requirements and ensuring that licensees receive notification about the risks of deed theft during real estate transactions. Additionally, the bill mandates that brokers memorialize their working relationship with buyers in writing, detailing the duration of the relationship and compensation agreements.

The bill also updates definitions related to real estate transactions, including a detailed definition of "deed theft," which encompasses various fraudulent activities aimed at unlawfully transferring ownership of real property. Other amendments include clarifying the responsibilities of brokers to their clients and ensuring that all parties involved in a transaction are treated with honesty and care. The act is set to take effect on November 1, 2025.