Louisiana Law
Associate broker
means a person who holds a broker's license and who is exclusively affiliated with and
sponsored by another licensed real estate broker to participate in any activity described in this
Section.
Commission
means the Louisiana Real Estate Commission.
Franchise agreement
means an agreement whereby one party, the franchisor, authorizes a real estate broker, the
franchisee, to use registered trademarks or other advertising tools to create a common identity
among several brokers nationally or regionally for marketing purposes
individual real estate broker
means an individual person licensed as a real estate broker and does not mean a licensed
corporation, limited liability company, or partnership licensed as a real estate broker
Qualifying broker
means the sponsoring broker for a licensed corporation, limited liability company, or partnership
and is the individual real estate broker designated by a licensed corporation, limited liability
company, or partnership, by resolution, as its representative in all matters relating to its real
estate business activities in Louisiana and in administrative and regulatory matters before the
commission.
Real estate activity
means any activity relating to any portion of a real estate transaction performed for another by
any person, partnership, limited liability company, association, or corporation, foreign or
domestic, whether pursuant to a power of attorney or otherwise, for a fee, commission, or other
valuable consideration, or with the intention, in the expectation, or upon the promise of receiving
or collecting a fee, commission, or other valuable consideration:
Sells, exchanges, purchases, manages, rents, or leases, or negotiates the sale, exchange,
purchase, rental, or leasing of real estate.
Offers or attempts or agrees to negotiate the sale, exchange, purchase, management, rental, or
leasing of real estate.
,Lists or offers or attempts or agrees to list for sale or lease any real estate or the improvements
thereon.
Buys or offers to buy, sells or offers to sell, or otherwise deals in options on real estate or the
improvements thereon.
Advertises or holds himself, itself, or themselves out as engaged in the business of selling,
exchanging, purchasing, managing, renting, or leasing real estate.
Assists or directs in the procuring of prospects or the negotiation or closing of any transaction,
other than mortgage financing, which results or is calculated to result in the sale, exchange,
managing, leasing, or renting of any real estate, other than a provider of information, ideas, and
materials to guide homeowners in the sale of their own property.
s engaged in the business of charging an advance fee or contracting for collection of a fee in
connection with any contract whereby he undertakes primarily to promote the sale, exchange,
purchase, rental, or leasing of real estate through its listing in a publication issued primarily for
such purpose, or for referral of information concerning such real estate to brokers, or both.
Sells or attempts to sell or offers or attempts to negotiate the sale of any business whose assets
include real estate or leases of real estate.
Lists or offers or attempts or agrees to list for sale any business whose assets include real
estate or leases of real estate.
Real estate sales person
means a person, other than an associate broker, sponsored by a licensed real estate broker to
participate in any activity described in this Section.
Timeshare developer
means an individual, partnership, limited liability company, corporation, or other legal entity, or
the successor or assignee thereof, who creates a timeshare plan or who is in the business of
making sales of timeshare interests which it owns or purports to own.
timeshare interest salesperson
means a person who directly sells or offers to sell any timeshare interest.
Timeshare Registrant
means timeshare interest salespersons or timeshare developers registered by the commission.
real estate school
includes any place or institution certified by the commission which is open to the public for the
instruction or training of individuals to engage in the selling of real estate.
, sponsering broker
means any individual real estate broker who sponsors associate brokers or real estate
salespersons who participate in any activity described in this Section.
Real estate continuing education vendor
means any school, place, individual, or institution certified by the Louisiana Real Estate
Commission which offers courses or seminars in real estate and related subjects to fulfill
continuing education requirements for license or certificate renewal purposes
Licensee
means any person who has been issued a license by the commission to participate in any
activity described in this Section.
active licensee
" means any currently licensed person whose license has not been transferred to inactive status
and who is authorized to act in the capacity of a real estate broker or salesperson as provided
for in this Chapter.
inactive licensee
means any currently licensed person whose license has been transferred to inactive status and
who is not authorized to act in the capacity of a real estate broker or salesperson as provided
for in this Chapter.
Property Manager
means one who, for a fee, commission, or other valuable consideration, manages real estate,
including the collection of rents, supervision of property maintenance, and accounting for fees
received for another.
Real Estate Transaction
means the selling, offering for sale, buying, offering to buy, soliciting for prospective purchasers,
managing, offering to manage, leasing, offering to lease, renting, or offering to rent any real
estate or improvements thereon, or any business or other entity whose assets include real
estate or leases of real estate.
seller
Associate broker
means a person who holds a broker's license and who is exclusively affiliated with and
sponsored by another licensed real estate broker to participate in any activity described in this
Section.
Commission
means the Louisiana Real Estate Commission.
Franchise agreement
means an agreement whereby one party, the franchisor, authorizes a real estate broker, the
franchisee, to use registered trademarks or other advertising tools to create a common identity
among several brokers nationally or regionally for marketing purposes
individual real estate broker
means an individual person licensed as a real estate broker and does not mean a licensed
corporation, limited liability company, or partnership licensed as a real estate broker
Qualifying broker
means the sponsoring broker for a licensed corporation, limited liability company, or partnership
and is the individual real estate broker designated by a licensed corporation, limited liability
company, or partnership, by resolution, as its representative in all matters relating to its real
estate business activities in Louisiana and in administrative and regulatory matters before the
commission.
Real estate activity
means any activity relating to any portion of a real estate transaction performed for another by
any person, partnership, limited liability company, association, or corporation, foreign or
domestic, whether pursuant to a power of attorney or otherwise, for a fee, commission, or other
valuable consideration, or with the intention, in the expectation, or upon the promise of receiving
or collecting a fee, commission, or other valuable consideration:
Sells, exchanges, purchases, manages, rents, or leases, or negotiates the sale, exchange,
purchase, rental, or leasing of real estate.
Offers or attempts or agrees to negotiate the sale, exchange, purchase, management, rental, or
leasing of real estate.
,Lists or offers or attempts or agrees to list for sale or lease any real estate or the improvements
thereon.
Buys or offers to buy, sells or offers to sell, or otherwise deals in options on real estate or the
improvements thereon.
Advertises or holds himself, itself, or themselves out as engaged in the business of selling,
exchanging, purchasing, managing, renting, or leasing real estate.
Assists or directs in the procuring of prospects or the negotiation or closing of any transaction,
other than mortgage financing, which results or is calculated to result in the sale, exchange,
managing, leasing, or renting of any real estate, other than a provider of information, ideas, and
materials to guide homeowners in the sale of their own property.
s engaged in the business of charging an advance fee or contracting for collection of a fee in
connection with any contract whereby he undertakes primarily to promote the sale, exchange,
purchase, rental, or leasing of real estate through its listing in a publication issued primarily for
such purpose, or for referral of information concerning such real estate to brokers, or both.
Sells or attempts to sell or offers or attempts to negotiate the sale of any business whose assets
include real estate or leases of real estate.
Lists or offers or attempts or agrees to list for sale any business whose assets include real
estate or leases of real estate.
Real estate sales person
means a person, other than an associate broker, sponsored by a licensed real estate broker to
participate in any activity described in this Section.
Timeshare developer
means an individual, partnership, limited liability company, corporation, or other legal entity, or
the successor or assignee thereof, who creates a timeshare plan or who is in the business of
making sales of timeshare interests which it owns or purports to own.
timeshare interest salesperson
means a person who directly sells or offers to sell any timeshare interest.
Timeshare Registrant
means timeshare interest salespersons or timeshare developers registered by the commission.
real estate school
includes any place or institution certified by the commission which is open to the public for the
instruction or training of individuals to engage in the selling of real estate.
, sponsering broker
means any individual real estate broker who sponsors associate brokers or real estate
salespersons who participate in any activity described in this Section.
Real estate continuing education vendor
means any school, place, individual, or institution certified by the Louisiana Real Estate
Commission which offers courses or seminars in real estate and related subjects to fulfill
continuing education requirements for license or certificate renewal purposes
Licensee
means any person who has been issued a license by the commission to participate in any
activity described in this Section.
active licensee
" means any currently licensed person whose license has not been transferred to inactive status
and who is authorized to act in the capacity of a real estate broker or salesperson as provided
for in this Chapter.
inactive licensee
means any currently licensed person whose license has been transferred to inactive status and
who is not authorized to act in the capacity of a real estate broker or salesperson as provided
for in this Chapter.
Property Manager
means one who, for a fee, commission, or other valuable consideration, manages real estate,
including the collection of rents, supervision of property maintenance, and accounting for fees
received for another.
Real Estate Transaction
means the selling, offering for sale, buying, offering to buy, soliciting for prospective purchasers,
managing, offering to manage, leasing, offering to lease, renting, or offering to rent any real
estate or improvements thereon, or any business or other entity whose assets include real
estate or leases of real estate.
seller
