Agency
In Louisiana, which of the following best describes the concept of 'informed consent' in a dual agency situation?
AA verbal agreement by both parties to proceed
BBoth parties must receive a written explanation of dual agency's limitations and consent in writing before the agent proceeds✓ Correct
CThe agent informing the parties after the transaction closes
DThe broker deciding that dual agency is appropriate without telling the parties
Explanation
Informed consent for dual agency requires that both parties receive a clear written explanation of the dual agency relationship, its limitations on the agent's ability to fully advocate for either party, and both parties must consent in writing before the agent proceeds.
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