Louisiana Agency Disclosure

When working with a real estate broker or licensee in Louisiana, it's important to understand the different agency relationships that can exist. This document provides an overview of these relationships and how they impact your real estate transactions.

What is Agency?

An agency relationship means that a real estate broker or licensee represents a client with their consent, whether expressed or implied, in an immovable property transaction. This means the agent is working in your best interest.

Types of Agency Relationships

Designated Agency

The law presumes that the real estate licensee you work with is your designated agent, unless you have a written agreement stating otherwise.

No other licensees in the office work for you unless disclosed and approved.
You should only discuss buying or selling with your designated agent.

Dual Agency

A dual agency occurs when the same agent represents both the buyer and the seller in a transaction.

Dual agency is only allowed if both parties provide informed written consent.

Agents in a dual agency must:

Treat all clients honestly.
Provide factual information about the property.
Disclose known material defects.
Assist in comparing financing options.
Provide comparable property sales data.
Explain real estate terms, inspections, and closing costs.

Confidentiality in Real Estate Transactions

Any confidential information shared with a real estate agent is protected unless:

Final Acknowledgment

By signing the Louisiana Agency Disclosure form, buyers and sellers acknowledge that they have read and understand the agency relationships and their rights in a real estate transaction.