Agency
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:
ASingle agency
BExclusive agency
CDisclosed dual agency✓ Correct
DSubagency
Explanation
Disclosed dual agency occurs when a broker (with written consent from both parties) represents both buyer and seller in the same transaction. Louisiana law requires written disclosure and consent for dual agency arrangements.
Related Louisiana Agency Questions
- Under Louisiana law, an agency relationship terminates automatically upon:
- A Louisiana licensee working as a 'transaction broker' owes all of the following duties EXCEPT:
- In Louisiana, which of the following best describes the concept of 'informed consent' in a dual agency situation?
- A Louisiana real estate licensee who earns a referral fee for referring a mortgage broker to a client must ensure this fee is:
- In Louisiana, 'material facts' that must be disclosed by a licensee include which of the following?
- A Louisiana buyer's representative who learns the seller has already purchased another home and is under financial pressure to sell quickly must:
- In Louisiana, 'express agency' is created when:
- 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:
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