SB 1068 Oklahoma Senate · 2025 Regular Session

Real estate brokers; requiring written memorialization of certain working relationship; establishing certain limitations. Effective date.

SB 1068 requires real estate brokers to provide written documentation of specific services provided directly to home buyers, rather than just listing home tours. The bill amends existing law to mandate this written agreement for services like property search assistance or negotiation support. It directly affects real estate brokers who work with buyers and the buyers themselves, ensuring clear records of the broker's role. The key provision replaces vague language about "touring a home" with explicit requirements for documenting buyer-specific services. The bill remains pending in committee as of March 2025.

Bill status in committee 1 of 4 stages cleared

Introduction

Feb 2025

Committee Review

Floor Vote

Governor

Introduced Feb 3, 2025 Last action Mar 4, 2025

Maddy AI version diff · 2 comparisons

What changed between versions

SB1068 (3-24-25) (ROSINO) FA1.PDF → Floor (Senate) · 5 edits

MODERATE

This bill amends Oklahoma's real estate broker duties law to clarify mandatory obligations for all parties in a transaction and add specific requirements for buyer-broker relationships. The changes require written memorialization of buyer-broker agreements before touring homes, establish default compensation agreement timeframes, and define what information brokers must keep confidential. These updates aim to increase transparency and protect consumers in real estate transactions.

Scope change

The bill expands clarity on broker duties to all parties in a transaction while adding specific written agreement requirements for buyer-broker relationships, particularly regarding home touring and compensation disclosure.

REQUIREMENT

Added requirement for written buyer-broker agreement before touring a home at broker direction

Established default 60-day timeframe for compensation agreements when no specific duration is specified

Added specific confidentiality protections for buyer willingness to pay more, financing terms, and motivating factors

Clarified that broker duties to all parties are mandatory and cannot be waived

TIMELINE

Set effective date of November 1, 2025

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Feb 27, 2025

Upper · Passed

Reported Do Pass Business and Insurance committee; CR filed

upper

Feb 3, 2025

Introduced

First Reading

upper

2 primary · 0 co-sponsors