State Legislative Issues
Cedric Richmond's House Bill introduced to delay implementation of the Biggert-Waters Flood Insurance Reform Act of 2012.
Senate Bill 996, SMART Act
Mary Landrieu's full Senate Bill intended to delay the Biggert-Waters Flood Insurance Reform Act of 2012, as well as ammend the NFIP.
Senate Bill 996 SMART Act Summary
The Senate Bill 996 SMART Act Summary breaks down the sections of the bill which will ammend the NFIP.
Flood Insurance Reform Act of 2012 Fact Sheet
Fact sheet detailing sections 205 and 207 of the bill.
LR & LREC: What's the Difference?
Louisiana REALTORS® is a statewide, member-based trade association established to assist its members in the business of real estate.
The Louisiana Real Estate Commission is a state government commission established to regulate the licensing of real estate professionals and protect consumers.
|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.||Louisiana law requires that EVERY real estate sales associate and broker be licensed. An annual license fee is charged by the LREC.|
|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 REALTORS®.||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.|
|Errors & Omission Insurance|
|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 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.|
|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.||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.|
|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.||
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.