Business and Professions Code - BPC - BPC § 10018.16

Summary

“Seller reserved listing agreement” means a listing agreement whereby the owner grants to a seller’s agent, for a specified period of time, the exclusive right to sell, find, or obtain a buyer for the real property, and the seller’s agent is entitled to the agreed compensation if

Text

“Seller reserved listing agreement” means a listing agreement whereby the owner grants to a seller’s agent, for a specified period of time, the exclusive right to sell, find, or obtain a buyer for the real property, and the seller’s agent is entitled to the agreed compensation if, during that period of time, the real property is sold, no matter who effected the sale, or when the seller’s agent receives and presents to the owner any enforceable offer from a ready, able, and willing buyer on terms that are authorized by the listing agreement or accepted by the owner. Compensation is not owed to the seller’s agent if the owner sells the property directly and not through any other broker. A “seller reserved listing agreement” may provide for compensation to the seller’s agent if the property is sold, other than directly by the
seller, within a specified period after termination of the listing agreement.

Retrieval chunks

• #1 | Business and Professions Code - BPC - BPC § 10018.16

  “Seller reserved listing agreement” means a listing agreement whereby the owner grants to a seller’s agent, for a specified period of time, the exclusive right to sell, find, or obtain a buyer for the real property, and the seller’s agent is entitled to the agreed compensation if, during that period of time, the real …