California Codes, Business and Professions Code - BPC, Division 4 — Real Estate, Part 1 — Licensing of Persons, Chapter 1 — General Provisions, Section 10018.15

“Exclusive right to sell 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. An “exclusive right to sell listing agreement” may provide for compensation to the seller’s agent if the property is sold within a specified period after termination of the listing agreement.