What Brokers, Buyers, and Sellers Should Understand about California’s New Rules for Buyer-Broker Representation Agreements
By Austin B. Quinn – February 10, 2025 – The new year has brought with it many changes to real estate laws in California. Brokers will have to adapt to the new rules in AB 2992, a bill that requires every broker to have a written buyer-broker representation agreement before receiving a commission on the sale of real property. This applies to both residential and commercial property sales. The new law does not apply to leases, loan brokerage services, or the sale of state or federal land. Context Behind the New Rules The objective of AB 2992 is to provide greater transparency and…
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