California Business and Professions Code

§ 10018.17

BPC § 10018.17 Effective Jan 1, 2019Div. 4 · Part 1 · Ch. 1

Statute text

“Open listing agreement” means a listing agreement which grants no exclusive rights or priorities to the seller’s agent, and the agreed commission is payable to the seller’s agent only if that agent obtains and presents to the owner an enforceable offer from a ready, able, and willing buyer on the terms authorized by the listing agreement, which is accepted by the owner, before the property is otherwise sold either through another licensee or by the owner directly and before the listing agreement expires by its terms or is revoked by the seller’s agent or the owner.

Legislative history

Added by Stats. 2018, Ch. 285, Sec. 24. (AB 2884) Effective January 1, 2019.