Realtors E-Newsletter
LOUISIANA REALTORS • December 19, 2016
Message from the CEO:
Norman Morris, CEO gives a quick recap of LR’s 2016 programs and accomplishments in the latest video Message from the CEO
2016 Executive Committee Holiday Greeting
The 2016 Executive Committee met for the last time on December 1st at LR offices in Baton Rouge. Members received certificates of appreciation and enjoyed a nice lunch following the meeting. Members represented on Executive Committee are as follows (left to right): Beth Cristina – Immediate Past President, Frank Trapani – President-Elect, David Gleason – Commercial Division Director, David McKey – Regional Vice President II, David Holloway – Legislative Division Director, Eloise Gauthier – Professional Development Division Director, Aaron Goolsby – Marketing & Member Services Division Director, Betty Sun – Professional Conduct Division Director, Tom Giroir – Regional Vice President-IV, Gladys Smith – Regional Vice President I, Carole Woodward – Regional Vice President III. Not pictured: Judy Holland- LARPAC Director and Scott Hughes- Association Executive.
E&O Insurance and What You Need to Know
The Louisiana Real Estate Commission (LREC) requires all licensees to be covered by Errors and Omissions (E&O) insurance. This insurance helps protect individuals and companies from the full cost of defending against a claim made by a client and damages awarded. This can be through a Firm policy that covers everyone or through Individual coverage. Some brokerages provide group coverage as a benefit so you should check with your office manager or broker about that and know your coverage before spending any additional money.
LR’s member benefit partner CRES Insurance Services offers an alternative option for E&O insurance along with other exclusive offerings and have provided a helpful article regarding frequently asked questions. If you would like to minimize your risk in the coming year, you should take a look at more information about your options and access that additional information, here. For questions contact CRES at 858-618-1648.
Education Requirements CE & Ethics
There is a lot of confusion regarding required education hours that typically surfaces this time of year. As the license renewal deadline approaches on December 31, many members find themselves scrambling for CE credit and we are also at the end of a Quadrennial Cycle for Code of Ethics. Many education vendors and local boards are still offering live classes and there are a variety of online CE providers with license renewal packages. Misinformation gets circulated all too easily and it is hard for REALTORS® to decipher what credits are needed and who tracks what and where so we’ve compiled this information for you.
Let’s first talk about CE. Annual continuing education is a requirement to keep and renew your real estate license. The Louisiana Real Estate Commission (LREC) is the regulatory body that approves classes for CE credit and will be the authority that enforces penalties should you not complete your education hours.
Q: How many CE hours are required for license renewal?
A: 12 hrs are required annually for your real estate license renewal. 4hrs of the 12hrs are to be completed with the 2016 Mandatory Topic. 8 hrs can then be completed with any combination of LREC approved CE classes.
Q: What is the 2016 Mandatory Topic?
A: There were 3 topic options in 2016 to satisfy the Mandatory Topic and will vary with each education vendor.
1) 4 hrs on Agency 2) 4 hrs on CFPB or 3) 2 hrs on Agency & 2 hrs on CFPB.
It is important to check that the class you take to fulfill the mandatory hours contains “2016 Mandatory Topic” in the class title. The topic is determined by LREC and changes from year to year. Failure to complete the Mandatory Topic can result in a fine. Alternative credit for mandatory topic will be indicated in the title of the class. For example: “2016 Mandatory Commercial Alternative-Land Use and Zoning,” which was provided to commercial practitioners.
Q: Where can I check my hours?
A: The best place to check your hours is from your own records. Always be sure to sign in and sign out when you attend a class. Then try to note the date, instructor, and location on your calendar or planner. Lastly, it is important that you keep a copy of your certificate. The other place to check your education record is www.lrec.state.la.us/licensee-search/. You should complete your 12 hrs prior to renewing your license.
Q: What do I do if a class I attended is not on my education record?
A: If you check your education record and see a class has not been reported, contact the education vendor. Note that vendors have up to 30 days following a CE class to report credit to LREC. You should contact the education vendor first if you lost your certificate and need a duplicate copy produced. It is possible that some vendors will charge for that. The certificate is to be kept for your records and will only need to be produced if you get audited. You do not need to send copies of the certificate to LREC unless you are audited.
Q: What happens if I don’t complete the 12 hrs?
A: Renewing your license before completing the CE hours is subject to a fine. Not completing 12 hrs of CE is also subject to a fine. If you cannot find a live class and still need hrs, it is best to purchase a 12 hr CE package through an online CE provider and complete as soon as possible.
Q: Do CE credits transfer from year to year?
A: No they do not. It is perfectly OK to take “extra.”
***If you were licensed in 2016, the education requirement is the 45 hours Post License class AND the 4 hr Mandatory Topic. If your 180 days deadline to complete the 45PL is after December 31, then you will need to complete all 12 hrs of CE with 4 hrs being the Mandatory Topic. This can be confusing so if you have a specific question, contact the LREC Education Department at 225-925-1923.
Now, let’s talk Code of Ethics/Quadrennial Cycle/Professional Standards.
(Yes, it is referenced by all of those names but it is not necessarily all the same thing)
Q: What is the Code of Ethics Training Requirement?
A: As a condition of REALTOR® membership, REALTORS® are required to complete ethics training of not less than 2 hours, 30 minutes of instructional time within four-year cycles. The training must meet specific learning objectives and criteria established by the National Association of REALTORS®. The current cycle for the Code of Ethics training requirement is January 1, 2013 to December 31, 2016.
Q: Where is Code of Ethics Training available?
A: Training may be completed through local or state REALTOR® associations or through another method, such as home study, correspondence, classroom courses, or online courses. Check with your local board of REALTORS® whether a class you have taken will count toward the training requirement. If you are in need of training, click here.
Q: Can REALTORS® get CE credit for Code of Ethics classes?
A: Yes and No. Many providers of the Code of Ethics classes have also applied for LREC credit for these classes. Credit hours for this topic can range between 2 hrs to 4 hrs. While the class can count toward regular CE, this requirement is a condition of REALTOR® membership NOT a requirement of your license renewal. You will need to check with your local board NOT LREC to insure the class you take or took will suffice for credit. If you have taken a course that you feel should satisfy this requirement, you will need to talk to your local board.
If you took a CE class or believe you should have received credit from Louisiana REALTORS, please call us at 1-800-266-8538 so someone can assist you.
Local Board President Installations
Congratulations to the incoming local board Presidents and local directors who are being installed at events taking place around the state. Louisiana REALTORS® looks forward to working with a great group of leaders in 2017!
REALTORS® Association of Acadiana – Angi Trahan
Northeast LA Association of REALTORS® – Al Peterson
Bayou Board of REALTORS® – Synde Devillier
Greater Central LA Association of REALTORS® – Jim Leggett
Greater Fort Polk Association of REALTORS® – Frances Jouban
New Orleans Metropolitan Association of REALTORS® – Josie Degrusha
Southwest LA Association of REALTORS® – Kathy Venable
2017 LR Leadership Applications
The 2017 LR Leadership Applications are now available. This statewide leadership program boasts an impressive group of professionals who have given back to their brokerages, their communities, and through serving on the local, state, and national levels of the REALTOR® organization. This program is comprised of a series of day and half retreats that provide speakers and programming to develop one’s leadership and business skills. The program requires an investment of your time and provides a great opportunity to travel to different locations and meet REALTORS® from around the state.
“Louisiana REALTORS Leadership (Class of 2013) has, to date, been the single most enjoyable and beneficial decision I’ve made in my career. It strengthened my leadership abilities, helped me in my everyday business by teaching me “read” clients more accurately, and introduced me to a group of men and woman from around the state who have become friends – and who are only a phone call away when I need advice or someone to act as a sounding board for an idea.” – Allen Duhe, 2016 REALTOR Association of Acadiana President & 2017 LR Professional Development Division Director.
“LR Leadership has inspired me to not only learn more about my association and my desire to serve, but also raised my awareness of how to apply those skills to my business as well. The bonds and friendships formed with my peers in leadership have exceeded all expectations I had when I started the program.” – Rick Roberts, 2012 LR President & 2017 NAR Director
The application deadline is Friday, January 6, 2017 and space is limited. For questions or if you want more information contact, Amy P. Fennell.
REGISTRATION OPEN FOR LEARNING TO LEAD CONFERENCE AND LR COMMITTEE SIGN UPS
Registration for the 2017 Learning to Lead conference
is now available online. This day and half event sets the tone for the priorities of the new year and aims to provide information and tools for incoming local board and state level leaders and volunteers to serve the real estate industry throughout 2017. This is no registration fee to attend and the room block at the Hilton Capitol Center ends on Monday, January 2, 2017. Reservations can be made by calling the hotel at 1-800-955-6962. You will need to provide the code LRA or ask for the “LA REALTORS Association” group.
CONTACT US
ICYMI: It’s not too late to sign up for LR committees!! If you want to volunteer your time and input at the state level we encourage you to sign up for a team. Meetings are conducted throughout the year and commitments vary depending on the area you volunteer in and the program of work involved. Committees are a good way to provide input and get to know members from around the state. For a list of committee descriptions, click here.
Holiday Hours: Our offices will be closed on Friday, December 23 and Monday, December 26 in observance of the Christmas holiday and Friday, December 30 and Monday, January 2, 2017 in observance of the New Year. On behalf of LR staff and leadership, we look forward to an exciting and productive 2017!
Candidate qualifying for Louisiana’s November 3 election began Wednesday, August 5, and concludes Friday, August 7. The three-day qualifying period will establish the candidates for all six U.S. House districts, as well as judicial, parish and municipal races across the state. This election cycle includes several changes to Louisiana’s congressional races and election calendar. The state’s U.S. House primaries, originally scheduled for May 16, were canceled following the U.S. Supreme Court’s decision in Louisiana v. Callais. The Louisiana Legislature subsequently adopted a new congressional map that reduced the number of Black-majority congressional districts from two to one. Under the revised election calendar, the November 3 U.S. House contests will use an open primary system. All qualified candidates will appear on the November ballot, regardless of party affiliation. A candidate receiving more than 50% of the vote will be elected. If no candidate receives a majority, the two candidates receiving the most votes will advance to a December 12 runoff. U.S. Senate The November general election will feature Republican nominee U.S. Rep. Julia Letlow and Democratic nominee Jamie Davis. Letlow's Senate campaign has also created an open seat in Louisiana's 5th Congressional District. 5th Congressional District Several candidates have announced campaigns for the 5th Congressional District seat: State Sen. Stewart Cathey State Rep. Michael Echols Louisiana Board of Regents Chair Misti Cordell State Rep. Gabe Firment Cathey, Echols and Firment currently serve in the Louisiana Legislature. Additional candidates may qualify before the deadline on Friday. The 5th District covers portions of northeastern and central Louisiana and extends into the Florida Parishes. 6th Congressional District Congressman Cleo Fields has announced that he will not seek reelection in the newly redrawn 6th Congressional District. Instead, Fields is running in a special election for his former state Senate seat, which became vacant following the death of Sen. Larry Selders of Baton Rouge. The newly drawn 6th Congressional District extends around the Baton Rouge area and includes portions of rural communities surrounding the capital region. State Sen. Rick Edmonds has announced his candidacy. State Sen. Blake Miguez has also been discussed as a potential candidate, although the candidate field will not be finalized until qualifying closes Friday. Federal law requires congressional candidates to reside in the state they seek to represent but does not require them to reside within the specific congressional district. 2nd Congressional District Congressman Troy Carter currently represents the 2nd Congressional District, which extends from the Baton Rouge area toward New Orleans. Under the newly adopted congressional map, the 2nd District remains Louisiana's sole Black-majority congressional district. East Baton Rouge Parish Judiciary All 15 judgeships on the 19th Judicial District Court are scheduled for election following the Legislature's creation of two new judicial election subdistricts. Each subdistrict will elect seven judges, with an additional judgeship elected parishwide. Litigation challenging the new judicial map remains pending. Judicial races are among the contests being monitored by Louisiana REALTORS® and local Political Action Teams. Judicial decisions can have implications for property rights, business activity, litigation and the overall legal environment in Louisiana. Local Elections Voters across Louisiana will also consider candidates for mayors, city and parish councils, school boards, police chiefs and other local offices. While these races typically receive less statewide attention than congressional and statewide contests, local elected officials make decisions affecting land use, zoning, permitting, infrastructure, taxation and housing policy. These issues can directly affect real estate activity and development within local communities. Candidate Lists and Election Information The candidate field will not be final until qualifying closes Friday, August 7. The official list of qualified candidates is available through the Louisiana Secretary of State's Candidate Inquiry portal. The complete election schedule, including key dates for voting, registration and absentee ballots, is available through the Secretary of State's election calendar. For Louisiana REALTORS®, the qualifying period provides an early look at the candidates who will appear on the November ballot and the races that may affect real estate, property rights, development and local communities across the state.
The Louisiana REALTORS® Board of Directors will elect six (6) LR At-Large Directors at its October 1st meeting. Qualifications and an application for the position can be found below.
From the Louisiana Department of Insurance: Insurance Commissioner Tim Temple recognizes fire districts that have received improved fire ratings since last year. Improved fire ratings lead to reduced fire insurance premiums for property owners in the associated area. “Improved fire protection ratings demonstrate the hard work and dedication of fire departments and community leaders. These improvements make homes and communities safer and can reduce fire insurance premiums,” Commissioner Temple said. “Some premium reductions are more than others, but any improvement to the safety and resilience of our communities is a win for everyone.” Fire protection grading is promulgated by the Property Insurance Association of Louisiana (PIAL) and approved by the Commissioner of Insurance. All fire districts are graded on a scale of 1 to 10 by PIAL, with 10 representing no fire protection and 1 representing the best level of protection. The PIAL considers several factors when determining a district’s grading, including the number of dispatchers on duty, the number of firefighters and fire trucks and the availability of water. “I’m extremely proud of the Louisiana Fire Service,” said Department of Public Safety Principal Assistant Chief Bryan J Adams. “They continue to step up, work hard and deliver exceptional service to protect our community. As we partner with them through training and the enrollment support they need to succeed, you can expect continued results like this. Our office is committed to staying at the forefront of collaboration with the Louisiana Fire Service—because we’re truly One Team.” Policyholders in the affected areas should contact their insurance producer if they have questions about how fire rating improvements may affect their fire insurance premiums. The average annual premium reduction examples below are calculated for a brick masonry home with an HO-3 policy insured for $250,000, with a $500 deductible.
