In Louisiana, which type of agency relationship allows a licensee to assist both the buyer and the seller in the same transaction without representing either party as a fiduciary?
Correct Answer
D) Transaction brokerage
Louisiana recognizes transaction brokerage (also referred to as non-agency facilitation) as a status in which the licensee assists both buyer and seller without acting as a fiduciary for either. The licensee provides ministerial acts and facilitates the transaction but does not owe loyalty or confidentiality to either party in the same way an agent would.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship created when a principal's actions or words lead a third party to reasonably believe that an agent has authority, and the principal fails to correct this belief.
An agency relationship created when a principal approves or accepts an agent's previously unauthorized actions, effectively granting authority after the fact.
The legal requirement for real estate agents to inform all parties about who they represent in a transaction, typically provided at first substantive contact.
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