Realtors E-Newsletter

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.

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.

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.

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.

A: There were 3 topic options in 2016 to satisfy the Mandatory Topic and will vary with each education vendor.

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.

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.

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.

A: No they do not. It is perfectly OK to take “extra.”

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.

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.

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.

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.