Agency
In Louisiana, a designated agency arrangement means:
AOne broker represents all clients in a transaction
BSeparate licensees within the same firm are designated to represent buyer and seller individually✓ Correct
CThe commission is split equally between two brokers
DThe broker appoints the LREC to handle disputes
Explanation
Designated agency in Louisiana allows a broker to appoint separate licensees within the same firm to act as exclusive agents for the buyer and seller, reducing conflicts of interest.
Related Louisiana Agency Questions
- 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:
- In Louisiana, a licensee who represents multiple buyers competing for the same property must:
- In Louisiana, an agent who receives an offer on behalf of the buyer must communicate the offer to the seller:
- In Louisiana, a buyer's agent who submits an offer on behalf of their buyer on a property where the buyer's agent's brother is the seller:
- A Louisiana real estate agent's duty of 'obedience' to their client means:
- Under Louisiana agency law, if a listing agent intentionally or negligently misrepresents a property's condition to a buyer, both the listing agent AND the broker may be liable because:
- In Louisiana, a real estate team member who is not licensed may NOT:
- In Louisiana, the broker's trust account must be used to hold:
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