Louisiana Brokerage Practice and Consumer Protection
This chapter covers Louisiana's day-to-day practice rules: sales escrow and trust accounts, supervision and advertising, and the Louisiana Real Estate Recovery Fund.
Sales Escrow and Trust Accounts
The sponsoring broker is responsible for the brokerage's sales escrow or trust account. Client funds such as deposits must be placed in that account, kept separate from the broker's own funds, and properly accounted for. Commingling or converting client funds violates Louisiana license law and can result in discipline.
Supervision and Advertising
Louisiana advertising must be conducted under the sponsoring broker and must not be false or misleading. A salesperson advertises in the name of the sponsoring broker's firm. Because the broker supervises the salesperson, violations by the salesperson can also expose the broker to discipline.
The Louisiana Real Estate Recovery Fund
The Recovery Fund reimburses members of the public who obtain a valid but unpaid court judgment against a licensee for certain violations, subject to statutory per-transaction and per-licensee limits. A licensee whose conduct causes a payout may have their license suspended until the fund is repaid.
State-specific details
State exam facts
- State regulator
- Louisiana Real Estate Commission (LREC)
- Exam vendor
- PSI
- Prelicensing education
- 90 hours of approved salesperson pre-license education
How many prelicensing hours does Louisiana require to become a real estate agent?
Louisiana requires a 90-hour salesperson pre-license course approved by the Louisiana Real Estate Commission before you sit for the state exam.
Who licenses real estate agents in Louisiana?
The Louisiana Real Estate Commission (LREC) licenses salespersons and brokers. LREC uses PSI to deliver the exam.
How is the Louisiana salesperson exam structured?
The Louisiana salesperson exam is delivered by PSI with a national portion and a Louisiana state portion, scored separately; you must pass both. Confirm the current scored-question counts in the PSI Candidate Information Bulletin.
Sources: https://lrec.gov/licensing/, https://www.psiexams.com/
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