Under Louisiana law, when must a real estate licensee first provide the mandatory agency disclosure form to a prospective buyer?
Correct Answer
D) At the first substantive contact with the prospective buyer
Under LREC rules implementing La. R.S. 37:1467, a licensee must provide the agency disclosure form at the time of first substantive contact with a prospective buyer or seller. 'First substantive contact' is the point at which the licensee begins discussing specific property needs, financial qualifications, or motivation to buy or sell — not merely a casual introduction.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A non-agency relationship where the broker facilitates a real estate transaction without representing either party, owing limited duties of honesty, fairness, and competence to both.
The legal principle that holds a broker responsible for the actions of their agents and employees performed within the scope of the agency relationship.
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.
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