LA Real Estate case studies
LA Real Estate · Put your knowledge to work in context.
The Louisiana Real Estate Salesperson Examination is the licensing test administered in connection with the Louisiana Real Estate Commission (LREC), the state agency whose stated mission is "to serve and protect the public interest in real estate transactions and other real estate related activities" through fair administration and enforcement of the Louisiana Real Estate License Law and Commission Rules and Regulations. The credential is intended for candidates who want to work as licensed salespersons under a sponsoring broker, and it is also a prerequisite step for those who later pursue a broker license. The LA Real Estate case studies are 5 cases and about 3,299 words.
1The Expired License, the Coach, and the Cash Offer
Denise holds a Louisiana salesperson license sponsored by Riverside Realty, LLC (broker Bruce). On March 3 she shows a 315,000 Baton Rouge house to Marcus, who has signed nothing.
622 words, about 3 min2Both Sides in the Same Firm: Whose Number Is It?
Broker Kim's firm, Crescent Realty, holds an exclusive listing on a 445,000 Metairie townhouse. Buyer Priya signed an exclusive buyer representation agreement with Crescent three weeks ago.
623 words, about 3 min3Low Appraisal, Late Denial, and a $5,000 Deposit
Carla contracts to buy Dave's Shreveport house for 285,000 on the Louisiana Residential Agreement to Buy and Sell, depositing 5,000 with Crescent Title. The financing contingency requires Carla to apply within 7 days and to give the seller written notice of loan denial, with the lender's written statement, no later than 5 days before the act of sale.
682 words, about 3 min4Usufruct, Naked Ownership, and a Clouded Title in Lafayette
Thibodeaux, 90, owns a Lafayette duplex. In 2018 he donated the naked ownership to his daughter Adele by act before a notary and reserved a lifetime usufruct for himself.
705 words, about 4 min5Four Problems in One Week at Bayou Realty
Broker Wade owns Bayou Realty with six salespeople. Four items surface in one week: (1) salesperson Lila's Facebook ads for her 'Lila Group' show only 'The Lila Group - 555-0142,' with no brokerage name; (2) Wade pays a 3,000 printer invoice and a 1,500 team marketing bill out of the firm's escrow account holding 12,000 of buyers' deposits, saying he will 'true it up after the next closing'; (3) Lila's unlicensed assistant hosts open houses, quotes the list price, and tells buyers 'offer 10,000 under and the seller will take it'; (4) a mortgage broker offers Lila $1,000 for each buyer she refers who closes a loan.
667 words, about 3 min