Agency
In Louisiana, the agency relationship between a broker and client is created by:
AThe broker's MLS listing entry
BA written agency agreement (listing agreement or buyer agency agreement) signed by both parties✓ Correct
CVerbal agreement between broker and client
DThe broker's LREC license alone
Explanation
Under Louisiana law, agency relationships in real estate are created by written agreements — listing agreements (seller-broker) or buyer agency agreements (buyer-broker). While agency can sometimes arise from conduct, a written agreement is required for full fiduciary representation and to establish compensation.
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Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
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