Agency
A listing in Louisiana's Multiple Listing Service (MLS) constitutes an offer of compensation to:
AAll buyers who view the property
BCooperating brokers who bring buyers to purchase the property✓ Correct
CThe LREC as a filing fee
DOther sellers to exchange properties
Explanation
An MLS listing typically includes an offer of compensation to cooperating (buyer's) brokers who bring a buyer to purchase the listed property. This is the basis for cooperative compensation in MLS transactions.
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Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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