The purpose of this course is to provide students with both knowledge and understanding of Louisiana Real Estate Rules and Regulations (Rules and Regs). The Rules and Regulations have been developed over time by the Real Estate Commission (Commission or LREC) to protect the public by regulating the actions and practices of real estate agents. They were developed as a supplement to the Real Estate License Law to assist the Commission in the enforcement and administration of the license law. All persons who are licensed by the Commission to sell real estate in Louisiana are known as licensees.