The The Ritchie Law Firm is actively engaged in representing professionals in the real estate industry. Mr. Ritchie grew up in a family of real estate brokers and sales professionals. Mr. Ritchie obtained his real estate sales associate designation when he was 20 years old and going to college, during which time he was employed by a Broker and sold real estate while attending college. As a result of this background The The Ritchie Law Firm has been very active in real estate related legal issues from its inception.
Real Estate Appraisers
With the enactment of the Federal Financial Institutions Reform, Recovery, and Enforcement Act of 1989 real estate appraisers and the appraisal profession started on a path of more and more legislation by the states governing real estate appraisers. In Oklahoma the statutes pertaining to real estate appraisers are found in the Oklahoma Certified Real Estate Appraisers Act of Title 59. The Act creates a real estate appraiser licensing and certification procedure and process. The Act also sets forth an administrative procedure mechanism by which real estate appraisers may be charged and prosecuted for violations of the Act. The The Ritchie Law Firm represents real estate appraisers in appraisal complaint proceedings and civil lawsuits.
Proceedings involving real estate appraisers before the Appraisal Board start with a complaint being made against an appraiser. An investigation is then conducted and a decision made as to whether or not to start formal complaint proceedings in the form of an official complaint against the real estate appraiser. If an official complaint is prosecuted it is done in an administrative proceeding before the Board which is a formal trial. A professional attorney prosecutor is assigned to the case to prosecute the complaint against the appraiser. This is an official proceeding and the responding appraiser has all the rights and remedies available as in other administrative proceedings such as having an attorney, legal motions, briefing and argument, examination and cross-examination of witnesses, depositions, subpoenas and the like. Real Estate appraisers also have rights of appeal from decisions of the Board which are likewise formal legal proceedings. Many times a real estate appraiser faced with a charge does not recognize the formality of the matter and attempts to just go in and appear before the board. The real estate appraiser must realize that they are being formally prosecuted and this is not an informal matter. The results can be devastating, loss of appraisal license, suspension of appraisal license, fines and more.
Real Estate Brokers/Sales Professionals
Real Estate Brokers and Real Estate Sales Associates are, in the same manner as appraisers, governed by laws of the state which set forth the procedures and standards which must be followed to be licensed to engage in the real estate sales profession. Alleged violations of these laws and standards can be the subject of both administrative proceedings instituted by the Oklahoma Real Estate Commission and civil lawsuits by people against the Real Estate Broker and Real Estate Sales Associate. In both instances the proceedings are absolutely formal trials and the real estate professional should be represented by an attorney. These proceedings involve legal motions, briefing and argument, examination and cross-examination of witnesses, depositions, subpoenas and the like. The results can be devastating, loss of real estate broker's license, loss of real estate sales associate license, suspension, fines and more.
