Vote Smart's Synopsis:

Vote to pass a bill that establishes buyer-broker representation agreements in California.

Highlights:

• Requires agreements providing for the amount of compensation to be paid to a real estate licensee for the purchase of the specified residential property or a mobile home to contain the above-described statement (Sec. 1). 

• Defines a buyer-broker representation agreement as a written contract between a buyer and a buyer’s agent by which the buyer’s agent has been authorized to provide specified services for or on behalf of the buyer under the contract (Sec. 1). 

• Requires a buyer-broker representation agreement to include specified terms and require that the buyer’s agent provide the buyer a specified disclosure prior to execution of the agreement (Sec. 1).

Full Bill Text