Real Estate Commission
|LR: A licensee
becomes a member of Louisiana REALTORS® when they join
a Member Board of REALTORS. Annual dues are collected for
local, state and national REALTOR membership.
law requires that EVERY real estate sales associate and broker
be licensed. An annual license fee is charged by the LREC.
|LR: Louisiana REALTORS administers
advanced real estate coursework and confers professional designations
such as the Graduate, REALTOR Institute (GRI). The majority
of these courses also qualify towards LREC pre-licensing or
continuing education credits. For information on earning a
professional designation such as the GRI, contact Louisiana
||LREC: LREC requires every candidate
for licensure to complete a battery of pre-licensing courses
and twelve (12) hours of continuing education each year to maintain
their license. The LREC maintains records for annual hours
of credit received. If you have any questions about the status
of your pre-licensing or continuing education credits, you
should contact the LREC.
& Omission Insurance
|LR: Louisiana REALTORS encouraged
the introduction of legislation, which mandates Errors &
Omission (E&O) insurance coverage for real estate licensees.
We do not endorse, sell or contract with E&O providers.
||LREC: LREC contracts with E&O
providers and monitors the E&O policies of licensees.
If you have a question about purchasing E&O insurance,
contact the LREC.
|LR: Louisiana REALTORS provides
legal advice through the Legal Assistance Hotline and maintains
a legal defense fund for REALTORS involved in lawsuits that
impact the real estate industry as a whole.
||LREC: The LREC provides assistance
for the consumer, seller and buyer, who may have been wronged
by a real estate licensee not abiding by the rules and laws
governed by the LREC.
|LR: Member Boards of REALTORS
are charged with enforcing the National Association of REALTORS
Code of Ethics. Louisiana REALTORS may also provide hearings
for Member Boards and at-large members. Through the Member
Board structure, members may be fined, reprimanded, suspended
or have their membership terminated.
||LREC: The LREC is charged with
enforcing the provisions of Title 37, Chapter 17 of the Louisiana
Revised Statute of 1950. The LREC establishes regulations
and procedures for the issuance of all real estate licensees
and all requirements to satisfy continuing education credit.
The LREC has the authority to revoke or suspend licenses.