Prior to conducting a transaction, a licensee or registrant shall enter into a written contract, in duplicate, with the owner or consignor of the property to be sold, containing the terms and conditions upon which the licensee or registrant agrees to conduct the sale. Each contract shall include the license or registration number of the licensee or registrant conducting the transaction. The contract may be entered into electronically. The contracts shall be kept on file in the office of the licensee or registrant and shall be open to inspection as provided in this act.
63 P.S. § 735.15.1