This office lease provision states that the landlord and tenant each warrant and represent to the other party that there was no broker, finder or similar person, other than those listed, entitled to a commission, fee or other compensation, instrumental in consummating the lease. It also states that no conversations or prior negotiations were had by the landlord or tenant, respectively, or anyone acting on behalf of the landlord or the tenant, respectively, with any broker, finder or similar person, other than those listed, concerning the renting of the demised premises.
Louisiana Lease Provisions Relating to Brokers
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US-OL29A07
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FAQ
(1) ?Agency? means a relationship in which a real estate broker or licensee represents a client by the client's consent, whether express or implied, in an immovable property transaction. (2) ?Broker? means any person licensed by the Louisiana Real Estate Commission as a real estate broker.
How long does a broker or brokerage have to maintain records? A broker must retain records for a period of five years.
(8) "Designated agency" means the agency relationship that shall be presumed to exist when a licensee engaged in any real estate transaction, except as otherwise provided in this Chapter, is working with a client, unless there is a written agreement providing for a different relationship.
Unless the agent and the client agree otherwise in writing, the agent owes no further duties to a client after termination, expiration, or full performance of the brokerage relationship, except to: account for all moneys and property relating to the brokerage relationship; and to keep confidential all personal and ...
The broker must have written authority from the owner to advertise. Advertisements must contain the telephone number of the broker (company phone) and contain up to date information about the property. Salesperson's name and home telephone number may be used in the ad.
The Louisiana Law of Agency defines ministerial acts and activities as efforts made for the purposes of providing information (e.g. setting viewing appointments or hosting open houses, answering or returning phone calls from parties interested in a property).
Agency law is the common law doctrine controlling relationships between agents and principals. A principal-agent relationship is created when the agent is given authority to act for the principal.
(1) ?Agency? means a relationship in which a real estate broker or licensee represents a client by the client's consent, whether express or implied, in an immovable property transaction. (2) ?Broker? means any person licensed by the Louisiana Real Estate Commission as a real estate broker.
