Requires buyer broker agreements for certain real estate services

This bill requires real estate brokers in New York to provide buyers with a written "buyer broker agreement" before acting as their agent. The agreement must clearly disclose that compensation is negotiable and include details about payment terms, agency relationships, and any potential shared compensation. It directly affects homebuyers and real estate brokers during residential property transactions. Brokers must retain signed copies for three years, ensuring transparency about how agents are paid for their services.