Louisiana Licensing Requirements
Study Guide with All Correct Answers.
Real Estate Activity - Answer 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:
- When some on is representing someone in real estate for pay
All of the following are considered real estate activity when performed for another - Answer
- 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 lease any real estate or the improvement
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 or information, ideas, and
materials to guide homeowners in the sale of their own property.
-Engaging in the business of charging an advanced fee or contracting for the collection of a fee
in connection with any contract whereby he undertakes primarily to promote the sale,
exchange, purchase, rental, pr leasing of real estate through its listing in a publication issued
primarily for such purpose, or for the referral of information concerning such real estate to
brokers-or both.
-Selling or attempting to sell or negotiate the sale of any business whose assets include real
estate or leases of real estate
If your are handling any business of real estate for a fee you need to have a licenses.
The following are exempt from having a license: - Answer - Service rendered by an attorney
at law on behalf of a client which may be required during the normal course of legal
representation.
- A receiver, trustee in bankruptcy, administrator, executor, tutor, or civil sheriff for any parish of
this state
, - A trustee selling under a deed of trust or a mortgage
- Any individual, corporation, partnership, trust, limited liability company, joint venture, or other
entity which sells , exchanges, leases, or manages its own property.
salaried person employed by a licensed real estate broker - Answer for and on behalf of the
owner of any real estate which the licensed broker has contracted to manage for the owner, if
the salaried employee is limited to
-Delivering a lease application, a lease, or any amendment thereof to a person
- Receiving a lease application, lease, or amendment thereof, a security deposit, rental payment,
or any related payment for delivery to and made payable to a property manager or owner
-Showing a rental unit to any person, as long as the person is acting under the direct
instructions of the broker- provided the broker is responsible for the actions of his employees.
- Providing information about a rental unit, a lease, an application for lease, or the status of a
security deposit or the payment of rent to any person
- Assisting in the performance or property management functions by carrying out
administrative, clerical, or maintenance tasks
Any person employed by a housing authority to manage its property or otherwise managing
property of Hud
Any person managing Agricultural property
Types of Licenses - Answer Active Licensees, and Inactive licensees
Licensee - Answer means anyone who has been issued a license by the Commission
Active Licensees - Answer are currently licensed and have the right to operate as a licensee
and have not been transferred to inactive status
Inactive licensees - Answer maintain their license on inactive status at the commission and
are not allowed to operate in the capacity of a broker or salesperson.
Types of Broker Licenses - Answer Individual Real Estate Broker, Qualifying Broker, Associate
Broker and Real Estate Salesperson
Individual Real Estate Broker - Answer 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 ( can be a sponsor)
Study Guide with All Correct Answers.
Real Estate Activity - Answer 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:
- When some on is representing someone in real estate for pay
All of the following are considered real estate activity when performed for another - Answer
- 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 lease any real estate or the improvement
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 or information, ideas, and
materials to guide homeowners in the sale of their own property.
-Engaging in the business of charging an advanced fee or contracting for the collection of a fee
in connection with any contract whereby he undertakes primarily to promote the sale,
exchange, purchase, rental, pr leasing of real estate through its listing in a publication issued
primarily for such purpose, or for the referral of information concerning such real estate to
brokers-or both.
-Selling or attempting to sell or negotiate the sale of any business whose assets include real
estate or leases of real estate
If your are handling any business of real estate for a fee you need to have a licenses.
The following are exempt from having a license: - Answer - Service rendered by an attorney
at law on behalf of a client which may be required during the normal course of legal
representation.
- A receiver, trustee in bankruptcy, administrator, executor, tutor, or civil sheriff for any parish of
this state
, - A trustee selling under a deed of trust or a mortgage
- Any individual, corporation, partnership, trust, limited liability company, joint venture, or other
entity which sells , exchanges, leases, or manages its own property.
salaried person employed by a licensed real estate broker - Answer for and on behalf of the
owner of any real estate which the licensed broker has contracted to manage for the owner, if
the salaried employee is limited to
-Delivering a lease application, a lease, or any amendment thereof to a person
- Receiving a lease application, lease, or amendment thereof, a security deposit, rental payment,
or any related payment for delivery to and made payable to a property manager or owner
-Showing a rental unit to any person, as long as the person is acting under the direct
instructions of the broker- provided the broker is responsible for the actions of his employees.
- Providing information about a rental unit, a lease, an application for lease, or the status of a
security deposit or the payment of rent to any person
- Assisting in the performance or property management functions by carrying out
administrative, clerical, or maintenance tasks
Any person employed by a housing authority to manage its property or otherwise managing
property of Hud
Any person managing Agricultural property
Types of Licenses - Answer Active Licensees, and Inactive licensees
Licensee - Answer means anyone who has been issued a license by the Commission
Active Licensees - Answer are currently licensed and have the right to operate as a licensee
and have not been transferred to inactive status
Inactive licensees - Answer maintain their license on inactive status at the commission and
are not allowed to operate in the capacity of a broker or salesperson.
Types of Broker Licenses - Answer Individual Real Estate Broker, Qualifying Broker, Associate
Broker and Real Estate Salesperson
Individual Real Estate Broker - Answer 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 ( can be a sponsor)
