Agency
In Louisiana, a buyer's agent is paid by the seller through the commission split. This arrangement means the buyer's agent:
AOwes duties to the seller because the seller pays them
BOwes fiduciary duties to the buyer — who they represent — regardless of who pays the commission✓ Correct
CRepresents whoever pays the commission
DMust disclose to the buyer that they are really working for the seller
Explanation
Who pays the commission does not determine whom the agent represents. A buyer's agent owes fiduciary duties to the buyer regardless of whether the commission is funded by the seller through a cooperative compensation arrangement.
Related Louisiana Agency Questions
- A Louisiana buyer's agent writes an offer for their buyer at $325,000 on a property listed at $340,000. The listing agent must:
- A Louisiana seller's agent may disclose the existence of other offers to a buyer (without disclosing specific terms) when:
- In Louisiana, a listing broker's duty of 'disclosure' to the buyer (who is a customer, not a client) includes:
- In Louisiana, a licensee's duty to account to their client requires them to:
- In Louisiana, a buyer who signs an exclusive buyer agency agreement has:
- A Louisiana listing agent who discovers a material defect in the listed property after the listing agreement is signed must:
- A Louisiana real estate licensee who provides a customer (rather than a client) with information about the market is providing:
- A Louisiana real estate agent who has successfully completed all required pre-licensing education and passed the state and national licensing exams must, before practicing real estate, also:
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