Louisiana License Law
A Louisiana broker must provide new salespersons with supervision that includes:
APerforming all transactions on the salesperson's behalf
BTraining on license law compliance, transaction procedures, and review of their real estate activities✓ Correct
CAttending every client meeting personally
DPersonally signing all purchase agreements
Explanation
Supervision of salesperson licensees requires the broker to provide training on license law compliance and transaction procedures, and to review and approve the licensee's real estate activities — not to perform the work for them.
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Key Terms to Know
Purchase Agreement
A legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
State-Specific Concepts
License Law
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