Senate Bill No. 1068 amends the existing duties and responsibilities of real estate brokers as outlined in 59 O.S. 2021, Section 858-353. The bill introduces new requirements for brokers to memorialize their working relationship with buyers in writing. This documentation must include the duration of the relationship, which cannot exceed one year, and the agreed-upon compensation for the broker's services. Additionally, the bill mandates that this written agreement be signed by both the buyer and the broker before the buyer tours a home.

The bill also stipulates that upon the expiration or termination of the working relationship, brokers and buyers may enter into a new agreement, provided it is documented in the same manner as required. Importantly, the new contracts cannot include automatic renewal terms without mutual consent from both parties. The effective date for this legislation is set for November 1, 2025.