Submitting a property to us is not an offer to sell the property, and our obligation to purchase the property can only be evidenced by a formal purchase agreement stating, signed by both buyer and seller, and specifying all material terms to the transaction. We reserve the right to decline to discuss the property for any reason or no reason at all. Unless previously agreed in writing otherwise, we reserve the right to contact the owner of the property directly, and our obligation to compensate any person in connection with the acquisition of any property may only be evidenced by a formal written agreement signed by us, a broker licensed by the California Department of Real Estate and the owner of the property which also complies with all applicable laws, including the regulations of the California Department of Real Estate.