Requires buyer broker agreements for certain real estate services

This bill requires real estate brokers to present and obtain a signed written agreement before representing buyers in residential property transactions. The agreement must clearly disclose that compensation is negotiable, specify the type of agency relationship, outline compensation terms, and include contact information for all parties involved. Brokers must also keep copies of these signed agreements for at least three years. The legislation updates legal definitions to clarify what constitutes a buyer's agent and buyer broker agreement, while also adjusting disclosure requirements for when agents must provide agency forms to buyers and sellers.