Louisiana Agency and Property Disclosure
Louisiana law requires a mandatory agency disclosure and, for residential sales, a seller property disclosure document. This chapter covers disclosure timing, dual agency, and the Louisiana Residential Property Disclosure Act.
Mandatory Agency Disclosure
Louisiana licensees must provide the mandatory agency disclosure information at the first point where a designated agency relationship is discussed or confidential information is exchanged, before entering an agency agreement. The disclosure explains the available relationships so consumers can make an informed choice about representation. Providing the disclosure does not itself create an agency relationship.
Dual Agency
A dual agent represents both the buyer and the seller in the same transaction. Louisiana permits dual agency only with the informed written consent of both parties, and the licensee must not disclose one party's confidential information (such as the highest price a buyer will pay) to the other. Consent is documented in the agency disclosure and the representation agreements; no advance LREC approval of individual transactions is required.
Residential Property Disclosure Act
Under the Louisiana Residential Property Disclosure Act (La. R.S. 9:3196 et seq.), most residential sellers must complete and deliver a property disclosure document describing the property's known condition and defects. Licensees must ensure the form is delivered as required and must never help a seller conceal a known material defect. The document discloses known conditions; it is not a warranty of future condition.