RS 9:3893 Duties of licensees representing clients - Louisiana Statutes

§3893.  Duties of licensees representing clients

A.  A licensee representing a client shall:

(1)  Perform the terms of the brokerage agreement between a broker and the client.

(2)  Promote the best interests of the client by:

(a)  Seeking a transaction at the price and terms stated in the brokerage agreement or at a price and upon terms otherwise acceptable to the client.

(b)  Timely presenting all offers to and from the client, unless the client has waived this duty.

(c)  Timely accounting for all money and property received in which the client has, may have, or should have had an interest.

(3)  Exercise reasonable skill and care in the performance of brokerage services.

B.  A licensee representing a client does not breach a duty or obligation to the client by showing alternative properties to prospective buyers or tenants or by showing properties in which the  client is interested to other prospective buyers or tenants.

C.  A licensee representing a buyer or tenant client does not breach a duty or obligation to that client by working on the basis that the licensee shall receive a higher fee or compensation based on a higher selling price.

D.  A licensee shall not be liable to a client for providing false information to the client if the false information was provided to the licensee by a customer unless the licensee knew or should have known the information was false.

E.  Nothing in this Section shall be construed as changing a licensee's legal duty as to negligent or fraudulent misrepresentation of material information.

F.  Nothing in this Chapter or in Chapter 17 of Title 37 of the Louisiana Revised Statutes of 1950 shall be construed as to require agency disclosure with regard to a lease that does not exceed a term of three years and under which no sale of the subject property to the lessee is contemplated.

Acts 1997, No. 31, §1, eff. March 1, 1998; Acts 1999, No. 452, §1.