Q&A with Joe Pryor
Realtors association works
to benefit Oklahoma consumers
Q: What issues at the Capitol are affecting homeowners?
A: The Oklahoma Association of Realtors (OAR) is supporting legislation this session that better assures individuals who take the real estate license exam are prepared and updated on all the current laws, rules and regulations dealing with real estate transactions. Such a measure better serves the consumer when dealing with the complicated process of buying or selling a home. Another measure OAR supports this year is one that better clarifies the relationship a broker and consumer have when dealing with this important transaction.
Q: How does the association work to protect consumers?
A: The association is the voice and first source for information, expertise and advocacy related to the practice of real estate in Oklahoma. Established in 1921, it today has more than 8,300 members involved in all aspects of the real estate industry. When a Realtor becomes a member at the local level, they also join the state and national organizations, as well. This continuity best serves the industry by assuring a consistent message at all community levels. OAR seeks to uphold and protect consumers' rights through advocacy at the local level.
Q: How is the real estate market in Oklahoma faring?
A: Overall, well. In 2008, we held the line on property values and had a market correction instead of the snowball effect of subprime mortgages taking down prime mortgages along with them in a price collapse. Our economy, which has become more diversified, has, along with the traditional Oklahoma industries of energy and agriculture, not only weathered the recession, but also come back strongly. Expectations for strong housing growth are not only in the two largest cities but also many median population areas that are under-inventoried for demand. We should expect robust new construction throughout the state, driven by our strong economy and the low interest rates available. Some pockets of the state, especially in the southeast portion, still have issues with higher unemployment and a longer road to recovery, but hopefully this can be addressed in the near future.
PAULA BURKES, BUSINESS WRITER