Agency
In Louisiana, a licensee who represents multiple buyers competing for the same property must:
AAdvise each buyer to make their highest offer to beat the competition
BManage the conflict of interest with full disclosure and obtain informed consent, or withdraw from representing one or more buyers to avoid the conflict✓ Correct
CRepresent the first buyer and refuse to work with the others
DSecretly advise one buyer on the others' offers
Explanation
Representing multiple buyers for the same property creates a significant conflict of interest. Louisiana law requires full disclosure of the conflict and informed consent from all affected clients — or the agent should withdraw from representing some buyers to eliminate the conflict.
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Key Terms to Know
Lien
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Buyer's AgentA real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
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