What is the True Value of a REALTOR®?

Louisiana REALTORS® • December 27, 2022

There can be a fine line between doing something yourself and entrusting your goals to an expert. While there are a number of experts in a wide variety of fields, there are still some things we prefer to do on our own. Oftentimes these tasks can be achieved with little to no consequence. However, there are those times, situations, and parts of life where the risk may not be worth the reward. Whether it’s working on your car, diagnosing your symptoms, or planning your retirement, at some point it will be a good idea to leverage the expertise of a professional. 


Where that line sits is different for everyone. But there is a big difference between changing the oil in your garage and replacing a transmission; taking aspirin every few hours and doing surgery; monitoring your 401(k) and deciding which mutual funds will make your retirement dreams happen. The same is true when you are buying or selling your home. Looking online and doing your own research is one thing, but having a fiduciary representative looking after your best interests can save you a lot of headaches and a lot of money.


Just like a financial planner, your REALTOR®, whether you are buying or selling, has a fiduciary responsibility to you as their client. This responsibility, coupled with NAR’s strict Code of Ethics, means that you can have the peace of mind that your best interests and goals are at the forefront of every decision. While a REALTOR’S® fiduciary duty is the overarching benefit of your relationship, here are some more specific benefits of working with a REALTOR.


Contracts and Negotiations

Real estate transactions include complex and complicated legal processes. Having someone represent you who not only understands these processes, but can inform, advise, and negotiate to ensure that your investment is as successful as possible.


Real Estate Regulations

Staying current on changing real estate laws can be a full-time job in itself. If you are moving from state to state or simply across town, there can be a wide array of laws and regulations that you need to be aware of. This is your REALTOR’S® job. They are well-versed, and immersed in real estate regulations and will be aware of any and all pertinent information for your transaction.


Market Expertise and Consultation

If you’re shopping for a new house, your job is to know what you want; your REALTOR’S® job is to know where to find it. If you’re selling your home, it is their job to get you the best price possible in a timely manner. Both sides of this transaction are improved when you have someone on your side that understands the market. There are a lot of other factors that go into the purchase or sale of a home other than the number of bedrooms and total square feet. Being familiar with property tax regulations, school districts, nearby amenities, and many other elements all provide a much clearer picture for you as a client.

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From the Louisiana Department of Insurance: During a press conference today with Governor Jeff Landry, Insurance Commissioner Tim Temple announced that registration for the next round of the Louisiana Fortify Homes Program (LFHP) will open at 8 a.m. on Monday, June 1, and will include 3,000 grants. The registration period for this lottery will be open for three weeks, closing at 5 p.m. on Friday, June 19.  During the press conference, Gov. Landry signed HB 1187 by Rep. Paul Sawyer, which will allow Louisiana Citizens Property Insurance Corporation to transfer $50 million in additional Katrina bond assessment funds to the LFHP. Combined with the $30 million in funding the program will receive through taxes and fees on insurance entities, the LFHP will receive a total of $80 million this year. “By lowering overall losses, we can reduce insurance and reinsurance costs, draw more insurers into the market, motivate existing companies to write additional policies and lower insurance premiums,” said Commissioner Temple. “That is exactly what the Louisiana Fortify Homes Program is designed to do.” The list of coastal parishes that are eligible to participate is expanding to include Acadia, Jefferson Davis and Lafayette parishes. Additionally, homeowners who live in the portions of Ascension, Calcasieu, Iberia, Livingston, St. Martin, St. Tammany, Tangipahoa and Vermilion parishes that were previously not included in the program will now be eligible to participate. A map showing the full list of eligible parishes is available on FortifyHomes.La.Gov . “Louisiana is the fastest growing state in the country for Fortified roofs, and that growth is not by accident—it is the result of strong support from Governor Landry and legislators like Chairman Talbot, Chairman Firment and Representative Sawyer, targeted program design, and a clear recognition that strengthening homes is one of the most effective ways to reduce insurance losses,” said Commissioner Temple. “At the end of the day, this program is about more than just roofs. It is about protecting families, it is about strengthening communities, and it is about putting Louisiana in a stronger position—both physically and economically—to face the challenges ahead.” To participate in the lottery, homeowners must register during the June registration period. Homeowners who registered for a previous round but were not selected must register again to participate. People who register on the last day of the registration period have the same chance of being selected as those who register on the first day, so there is no need to rush to register as soon as the period opens. When registering, homeowners will need to upload their homestead exemption, insurance policy declarations page that includes wind coverage, and flood insurance declarations page if the residence is in a flood zone. Homeowners who need assistance obtaining a copy of their homestead exemption should contact their parish tax assessor. Homeowners can contact their homeowners and flood insurance companies or agents for a copy of their policy declarations page. Homeowners are required to create a profile in the LFHP system before registering for the lottery and may do so by visiting the LFHP website and clicking the Login button. Homeowners who previously created a profile may use the same one for this and future rounds. Once the lottery registration period closes, the LFHP will randomly select 3,000 participants and send email notifications to registrants about whether they were selected to participate. These selection notices will be sent via email beginning on Monday, June 22. There are several program requirements that homeowners should be aware of before registering. Those interested in the program are encouraged to review eligibility information and frequently asked questions at FortifyHomes.La.Gov to determine whether their home meets the requirements for the program. If selected to participate in the grant program, homeowners will be financially responsible for having the home evaluated by a FORTIFIED-certified Evaluator as well as costs for the roof upgrade including permits, inspections and construction costs beyond the amount of the grant The LFHP provides grants of up to $10,000 for homeowners to upgrade their roofs to standards set by the Insurance Institute for Business & Home Safety. The program helps Louisiana homeowners strengthen their roofs to better withstand hurricane-force winds.
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