Agency Disclosure Explained Louisiana is one of several states that has adopted a mandatory agency disclosure form that outlines who represents whom in a real estate transaction.

By Mary Kay Hopkins, GRI, CRS, CRB, e-PRO, REALTOR®

Prospective buyers of properties listed on BarbeProperties.com need to understand that the Mary Kay Hopkins, LLC business model is such that I only represent one side of a transaction. In this case, I represent the seller. In anticipation of questions, I offer the following FAQ:

Why are you you putting this information about agency law on the website?

Those interested in these properties need to be aware "up front" that my fiduciary loyalties are to the seller.

Can a buyer call MKH with questions?

Yes. Louisiana Law provides for brokers and agents to conduct "ministerial acts" such as answering questions.

Can MKH show me a property listed on BarbeProperty.com?

If I were to show you the property, it would be with a written understanding, in compliance with state law, that I solely represent the seller.You would not want to convey information about motivation, negotiation strategy, etc. to me or the seller. Buyer's looking under these circumstances would need to:

1) sign the state required Agency Disclosure Form and

2) sign a statement verifying that you understand the agency relationship I have with the seller and that I do NOT represent you. This is necessary to satisfy Louisiana Law which states that absent a written contract to the contrary, an agent working with a buyer, represents that buyer. Specifically, the law reads: "§ 3892. Relationships between licensees and persons Notwithstanding the provisions of Civil Code Articles 2985 through 3032 or any other provisions of law, a licensee engaged in any real estate transaction shall be considered to be representing the person with whom he is working as a designated agent unless there is a written agreement between the broker and the person providing that there is a different relationship or the licensee is performing only ministerial acts on behalf of the person."

3) select an agent/broker to represent you

How do I obtain my own agency representation?

If you do not already have a real estate agent, you can locate one at the official website for the Southwest Louisiana Association of REALTORS website, SWLAR.com.

Where can I learn more about Louisiana's Agency Laws?

Here are some helpful links to the Louisiana Real Estate Commission website:


 
Mary Kay Hopkins, LLC 120 South Ryan Street Lake Charles, LA 70601

337-439-1079 e-mail: mkh@mkh.com

Feel free to call Mary Kay Hopkins with questions, but understand that
Mary Kay Hopkins, LLC solely represents the current owners.
For buyer representation, contact your personal REALTOR®.

Photo Credits: Fotolia.com and Mary Kay Hopkins
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