Louisiana License Law
In Louisiana, the LREC's authority includes all of the following EXCEPT:
AIssuing and renewing real estate licenses
BSetting real estate commission rates for all transactions✓ Correct
CInvestigating complaints against licensees
DSuspending or revoking real estate licenses
Explanation
The LREC has broad authority over licensing, education requirements, investigation, and discipline of licensees. However, the LREC does NOT have authority to set commission rates — commissions are freely negotiable between parties, and any attempt to fix rates would violate antitrust law.
Related Louisiana Louisiana License Law Questions
- Which of the following activities does NOT require a Louisiana real estate license?
- A Louisiana licensee who is also a licensed mortgage loan originator (MLO) must ensure they comply with:
- A Louisiana real estate licensee may advertise their services under which name?
- The LREC's primary purpose is to:
- What is the purpose of the LREC's Real Estate Recovery Fund?
- In Louisiana, what is the license renewal period for real estate licensees?
- Louisiana continuing education requirements for license renewal include:
- A Louisiana licensee who fails to renew their license before expiration is:
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