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!
Week 8 was one of the most consequential weeks of the session so far for Louisiana REALTORS® and the real estate industry. Two of the association’s flagship bills moved to the brink of final Senate action, rent stabilization was stopped again in committee, major insurance legislation continued to advance, and several bills affecting property rights, tort reform and transaction practice saw meaningful movement. The biggest developments of the week came on HB 468 and HB 1027 , both by Rep. Troy Hebert . HB 468 , the residential wholesaling bill, cleared the Senate Commerce Committee on April 28, had its amendments adopted on April 29, and was referred to the Legislative Bureau putting it one step away from the Senate floor. HB 1027 , the appraiser liability bill, followed the same path after its overwhelming House passage earlier this month and is also now pending Legislative Bureau review before final Senate consideration. Louisiana REALTORS® strongly supports both measures, which are designed to strengthen consumer protection, improve market clarity and reinforce confidence in the real estate transaction process. On the rent-control front, HB 472 by Rep. Alonzo Knox was brought back before the House Municipal, Local and Parochial Affairs Committee this week. Louisiana REALTORS® testified in opposition, and the committee voted 8-5 to defer the bill involuntarily. That is a meaningful win for property owners, housing providers, and the long-term health of Louisiana’s housing market. Louisiana REALTORS® remains firmly opposed to rent stabilization proposals, which may sound politically attractive, but have consistently been tied to reduced housing supply, deterioration in rental stock and long-term affordability problems in markets where they are adopted. Insurance remained one of the session’s most active and important policy areas. HB 1187, Rep. Paul Sawyer , dealing with Louisiana Citizens for emergency assessments, passed the full House 87-9 on April 29, and now heads to the Senate. Because Citizens' assessments can ultimately affect policyholders across the state, this bill has clear relevance for affordability and homeownership costs. HB 408, Rep. Edmond Jordan was heard in House Insurance Committee this week and remains pending. This bill would prohibit insurers from non-renewing residential policies when homeowners have taken documented steps to reduce risk, an issue with direct implications for insurability and failed closings in vulnerable markets. In addition, SB 241 by Sen. Valarie Hodges , which requires insurance adjusters and appraisers to include their license numbers in written communications, cleared House Insurance unanimously and is now headed to the House floor. Taken together, these measures reflect the legislature’s continued focus on insurance stability, transparency and accountability, all of which remain central to real estate activity in Louisiana. Week 8 also brought movement on broader tort reform and property-rights-related legislation. HB 437 , addressing expert witness fees, and HB 1089 , creating structured CARE Accounts for tort damages, both cleared House Civil Law and are now set for House floor debate next week. Meanwhile, SB 180 by Sen. Franklin Foil , allowing surviving spouses of disabled veterans to transfer a property tax exemption, is nearing final House passage after advancing to third reading. While not all of these bills directly regulate licensees, they reflect the broader civil liability and property tax environment that affects the cost and accessibility of owning property in Louisiana. Another key bill for the industry, HB 1166 by Rep. Kim Carver , remains very much alive and is now positioned for House floor debate on Tuesday, May 5 . The bill would require disclosures for vacant residential property, and it would close an existing gap in Louisiana law that currently exempts many vacant homes from standard seller disclosure rules. After being called and returned to the calendar earlier in the week, the bill is now finally set for debate. Louisiana REALTORS® also intends to use the bill as a vehicle for a structural amendment to the Louisiana Real Estate Commission that would move toward a more geographically balanced appointment process, with one member appointed from each congressional district and the remaining members appointed at large. That change would better ensure regional representation across Louisiana’s diverse real estate markets and help modernize the commission’s structure. Taken together, week 8 was a strong and consequential week for Louisiana REALTORS®. The association’s two flagship bills are now within reach of Senate floor passage, rent stabilization was turned back in committee, important insurance legislation continued moving, and HB 1166 remains positioned as both a major disclosure bill and a possible vehicle for meaningful LREC reform. Louisiana REALTORS® remains fully engaged at every stage of the process to protect private property rights, support practical regulation and advance policies that strengthen Louisiana’s real estate market. Lastly, this week, Louisiana REALTORS® wants to extend sincere thanks to Rep. Delisha Boyd — a real estate broker herself — for her tireless work shepherding HB 292 through the legislative process. The security deposit fairness bill, which allows landlords and tenants to mutually agree in writing to extend the timeline for returning a security deposit when damage is found, has passed to third reading and final passage in the Senate and is nearly on its way to the Governor's desk. This has been a meaningful win for both property owners and renters across Louisiana. Please view the weekly bill tracking report provided by our lobbying team over at Harris, DeVille and Associates.
Avoid costly fair housing violations with expert tips on compliant real estate advertising, from listing language to social media targeting strategies.
Week seven of the 2026 Regular Session was one of the most active weeks yet for legislation affecting the real estate industry. Louisiana REALTORS® remained heavily engaged as lawmakers advanced bills dealing with property disclosures, appraiser liability, rent regulation, insurance, blight, redevelopment and other issues that directly affect real estate professionals, property owners and consumers across the state. One of the most important bills this week was HB 1166 by Rep. Kim Carver , which would require disclosures for vacant residential property. The bill was reported from House Commerce with amendments on a 14-0 vote and then amended on the House floor, ordered engrossed, and passed to third reading. Louisiana REALTORS® testified on the bill in committee and worked closely with the author to better posture the legislation. Amendments advanced by our team were accepted by the author, helping improve the bill while preserving a practical disclosure framework that increases transparency without creating unnecessary confusion in the transaction process. Another closely watched issue this week was consumer-fee disclosure legislation. HB 617 by Rep. Mandie Landry moved this week, advancing from House Commerce and then the House floor, while HB 580 , another hidden-fee disclosure bill touching real estate transactions, remains pending. Louisiana REALTORS® is opposed to these measures in their current form to the extent they apply to real estate professionals because they are not well-tailored to the realities of real estate transactions, where many costs are negotiated, variable or controlled by third parties. Louisiana REALTORS® testified in opposition to the bills we oppose and is actively working with the author to better posture the legislation and remove real estate professionals from its scope altogether. On HB 472 by Rep. Alonzo Knox , the rent stabilization bill, the author is expected to try to bring the measure back before the committee next week with amendments. Even so, Louisiana REALTORS® remain opposed to the bill on principle. Price gouging is already illegal under existing law, and government-imposed rent regulation is not the right answer to housing affordability challenges. Louisiana REALTORS® testified in opposition to the bill and continues to oppose the measure because policies like this risk discouraging investment, reducing housing supply, and creating further market distortions rather than solving the underlying problem. HB 468 by Rep. Troy Hebert , which regulates the wholesale of residential real property, remains pending in the Senate Commerce Committee and continues to be an important bill for the industry. Likewise, HB 1027 by Rep. Troy Hebert , dealing with appraiser liability, had a strong week, passing the House 90-0 and moving to the Senate. Both measures are significant because they promote greater clarity, consumer protection and confidence in the real estate marketplace. Blight and redevelopment issues also remained active. HB 284 by Rep. John Wyble , which would allow certain local governments to expropriate blighted property through a declaration-of-taking process, remains subject to call and continues to raise serious concerns about private property rights. By contrast, HB 214 and HB 217 by Rep. Chance Henry , which create tax incentives for the rehabilitation of blighted property, represent a more constructive redevelopment approach by encouraging reinvestment rather than expanding government taking authority. Insurance legislation also remained a major focus this week, with multiple bills heard that could affect homeownership costs, market stability and post-storm recovery. Measures dealing with Louisiana Citizens assessments, pre-suit insurance claim review, the Fortified Homes Program and insurance market transparency all carry real implications for affordability and transaction viability. In Louisiana, insurance remains one of the most important issues affecting the real estate market, and Louisiana REALTORS® continues to closely track that legislation. Taken together, week seven showed that Louisiana REALTORS® remains actively engaged where it matters most: supporting practical transaction standards, protecting private property rights, testifying for and against legislation when necessary, pushing back on unworkable regulation and rent-control-style policies, and advancing policies that strengthen housing opportunity and market stability across Louisiana. Please view the weekly bill tracking report provided by our lobbying team over at Harris, DeVille and Associates.
