This bill amends Section 858-353 of the Oklahoma Real Estate License Code to enhance the duties and responsibilities of real estate brokers, particularly in their relationships with buyers. A significant addition is the requirement 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, including commissions and fees. Furthermore, both the buyer and the broker must sign this document before the buyer tours a home at the broker's direction.

Additionally, the bill stipulates that upon the expiration or termination of the working relationship, brokers and buyers can enter into a new agreement, provided it is documented similarly. Importantly, these new contracts cannot include automatic renewal terms without mutual consent from both parties. The bill is set to take effect on November 1, 2025, aiming to ensure transparency and clarity in broker-buyer relationships.