Agency
Which of the following best describes a 'designated agency' arrangement in Louisiana?
AOne broker represents all parties to a transaction
BDifferent licensees within the same brokerage are designated to represent the buyer and seller separately✓ Correct
CAn agent is designated by the court to represent an estate sale
DA licensee is appointed by LREC to handle a disputed transaction
Explanation
Designated agency allows a broker to designate one licensee in the firm to represent the buyer and a different licensee to represent the seller, avoiding the conflicts inherent in dual agency.
Related Louisiana Agency Questions
- An agent who discovers that their seller-client made a material misrepresentation in the listing should:
- In Louisiana, an agent who receives an offer on behalf of the buyer must communicate the offer to the seller:
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- When does a listing agreement typically terminate in Louisiana?
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- In Louisiana, a buyer working with a real estate licensee but without a signed buyer representation agreement is typically treated as a:
- A Louisiana listing agent who knows the listing will expire without a sale and pressures the seller to accept a below-market offer to earn a commission is violating their duty of:
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