Under Louisiana Real Estate License Law, which of the following individuals must hold a real estate license to receive compensation for negotiating the sale of immovable property on behalf of another person?
Correct Answer
A) A licensed salesperson working under a supervising broker
Under Louisiana Real Estate License Law (La. R.S. 37:1430 et seq.), any person who negotiates the sale, purchase, lease, or exchange of immovable property on behalf of another and receives compensation for doing so must hold a valid Louisiana real estate license. A licensed salesperson working under a supervising broker meets this requirement and is the correct answer.
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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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