Agency
In Louisiana, a 'fiduciary' relationship in real estate agency means the agent must act with the highest degree of good faith, with the principal's interests taking:
AEqual priority to the agent's own interests
BPriority above the agent's own interests and above all other parties✓ Correct
CPriority only in commercial transactions
DPriority only when the transaction is above $500,000
Explanation
A fiduciary relationship requires the agent to act with the utmost loyalty, good faith, and care — placing the principal's interests above the agent's own and above all other parties in the transaction. This is the highest duty recognized in law.
Related Louisiana Agency Questions
- A Louisiana agent who represents the seller should inform prospective buyers that the agent:
- In Louisiana, a licensee's duty to account to their client requires them to:
- In Louisiana, when a broker represents both the buyer and seller in the same transaction with written consent from both parties, this is known as:
- A transaction broker in Louisiana:
- When a Louisiana real estate agent's brokerage closes or the agent changes brokers, pending client transactions should be:
- In Louisiana, a subagent is a licensee who:
- A Louisiana buyer's agent who advises their client to offer $15,000 below list price is exercising their duty of:
- The fiduciary duty of 'loyalty' in a Louisiana agency relationship requires the agent to:
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