Agency
In Louisiana, which of the following is true regarding a licensee who represents no party (transaction broker/facilitator)?
AThey have no obligations to either party
BThey owe both parties limited duties: honesty, fairness, and disclosure of material facts — but no fiduciary duties✓ Correct
CThey represent the buyer exclusively
DThey represent whoever is paying the commission
Explanation
A Louisiana transaction broker (facilitator) represents neither party as a client but owes both parties limited duties — honesty, fairness, disclosure of material facts, and skill and care in completing the transaction — without the full fiduciary obligations of an agent.
Related Louisiana Agency Questions
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