NFIP Extended Until December 3, 2021

Louisiana REALTORS • September 30, 2021

What REALTORS Need to Know About Risk Rating 2.0

The National Flood Insurance Program was extended until December 3, 2021.

This means that flood insurance policies are available through NFIP until that date. 


FEMA is in the first stages of implementing a new pricing system for National Flood Insurance Program (NFIP) policies called Risk Rating 2.0. This new methodology will bring many changes to how NFIP flood policies are priced. Agents should have discussions with their clients about sellers assigning their flood insurance policies to buyers so buyers can take advantage of any premium discounts a seller currently enjoys. Each insurance company will have their own forms to assign policies.


With Risk Rating 2.0, flood hazard zones, rating tables, and elevations will no longer be the only factors used in calculating a property’s flood insurance premium. Instead, FEMA will be utilizing technology with data that incorporates pluvial flooding (drainage and urban flooding due to heavy rainfall) and other coastal risks such as erosion. Risk Rating 2.0 will also factor additional geographical variables, such as the distance to water, the type and size of nearest bodies of water, the elevation of the property relative to the flooding source, and building specifics (e.g., replacement cost). FEMA asserts that NFIP premiums calculated under Risk Rating 2.0 will reflect an individual property’s flood risk.


Louisiana REALTORS® encourages REALTORS® and their clients to contact their insurance companies to determine what their new NFIP rates will be under Risk Rating 2.0. Many property owners are finding that their flood insurance rates will increase significantly under Risk Rating 2.0 while others are finding that their rates will remain relatively the same.


REALTORS® and their clients should reach out to their trusted insurance partners to learn how these changes will affect their individual NFIP policies so informed decisions can be made going forward. 

Consumer Guide Update: Buying Land and Building a New Home

By Louisiana REALTORS® • April 17, 2025
As previewed last week, NAR is pleased to share the latest consumer guide focused on buying land and building a new home. This guide covers how to find land for sale, explains construction loans, and weighs the pros and cons of building a custom home. As a reminder, all guides in this series are available for download—in both English and Spanish—on facts.realtor . Please allow a few days for the Spanish version of the latest resource to be translated and uploaded. For ease of reference, below is a list of the most recent guides: NEW: Buying Land and Building a New Home Deeds and Titles Alternative Listing Options Navigating Multiple Offers Homeowners Associations Thank you for continuing to engage with the “Consumer Guide” series and for sharing the resources with prospective clients to ensure they have the information they need to find success in their homebuying or selling journey. Remember that these guides are for informational purposes only and are not meant to enact or change any existing NAR policy. Be on the lookout for next week’s guide on Wednesday, which will cover property title theft.
5 Negotiation Secrets Smart Buyers Use to Get Better Deals

5 Negotiation Secrets Smart Buyers Use to Get Better Deals—And How a REALTOR® Can Help

By Louisiana REALTORS® • April 16, 2025
Negotiating a real estate deal can be overwhelming, especially for buyers who don’t have experience with the process. Here are five key negotiation strategies smart buyers use—and how working with a REALTOR® provides a competitive edge.

Consumer Guide Update: Deeds and Titles

By Louisiana REALTORS® • April 11, 2025
As previewed last week, NAR is pleased to share the latest consumer guide focused on deeds and titles. This guide covers the difference between a deed and a title, common types of deeds, and title searches and insurance. As a reminder, all guides in this series are available for download—in both English and Spanish—on facts.realtor . Please allow a few days for the Spanish version of the latest resource to be translated and uploaded. For ease of reference, below is a list of the most recent guides: NEW: Deeds and Titles Alternative Listing Options Navigating Multiple Offers Homeowners Associations Marketing Your Home Thank you for continuing to engage with the “Consumer Guide” series and for sharing the resources with prospective clients to ensure they have the information they need to find success in their homebuying or selling journey. Remember that these guides are for informational purposes only and are not meant to enact or change any existing NAR policy. Be on the lookout for next week’s guide on Wednesday, which will cover buying land / constructing a new home.
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