§ 1670.50. — 1670.50. (Added by Stats. 2024, Ch. 516, Sec. 2.)

California § 1670.50.

• Jurisdiction: California
• Code CIV: Civil Code - CIV
• Div. 3.: DIVISION 3. OBLIGATIONS
• Title: 4.1.
• Part 2.: TITLE 4.1. Buyer-Broker Representation Agreements

Text

(a)
A buyer-broker representation agreement shall be executed between a buyer’s agent and a buyer as soon as practicable, but no later than the execution of the buyer’s offer to purchase real property.
(b)
The buyer-broker representation agreement shall include, but not be limited to, terms related to all of the following:
(1)
Compensation of the real estate broker.
(2)
Services to be rendered.
(3)
When compensation is due.
(4)
Contract termination.
(c)
Prior to execution of a buyer-broker representation agreement between the buyer and the buyers’s agent, the buyer’s agent shall provide the disclosure form required by Section 2079.14 to the buyer.
(d)
(1)
A buyer-broker representation agreement shall not last longer than three months from the date the agreement was made. This paragraph shall not apply to a buyer-broker representation agreement entered into between a real estate broker and a corporation, limited liability company, or partnership.
(2)
A buyer-broker representation agreement shall not renew automatically, and a renewal of a buyer-broker representation agreement shall be in writing and be dated and signed by all parties to the agreement. A renewal of a buyer-broker representation agreement subject to paragraph (1) shall not last
longer than three months from the date the renewal was made.
(3)
A buyer-broker representation agreement that is made in violation of this subdivision is void and unenforceable.
(e)
A person licensed pursuant to Division 4 (commencing with Section 10000) of the Business and Professions Code who violates this section shall be deemed to have violated that person’s licensing law.
(f)
For the purposes of this section, “buyer-broker representation agreement” means the same as it is defined in subdivision (p) of Section 2079.13.

Legislative History

Added by Stats. 2024, Ch. 516, Sec. 2. (AB 2992) Effective January 1, 2025.