Professional Education News

4 12, 2017

Obtain And Maintain Flood Insurance

2017-12-04T18:32:12+00:00

As a result of flooding events over the past several years, many families and communities are all too familiar with the concept of flooding and insurance. One important element that we would like to cover in this article is the "obtain and maintain" insurance requirements for property owners that receive federal financial disaster assistance. The included information here benefits all interested parties, including real estate professionals and consumers. If you or someone you know has ever received federal disaster assistance as a result of a flooding event, then the information included here is important to pass along. As a real estate professional, we have included a sample PDF disclosure at the end of this article which may be considered for inclusion in listing packets and other related brokerage documents. The Importance of Flood Insurance Floods are the nation’s most common and costly natural disaster and cause millions of dollars in damage every year. As many Americans have discovered in recent years, homeowners or renters insurance will not typically cover flood damage. Furthermore, it is important to note that floods can happen anywhere! [...]

1 11, 2017

Broker Mandatory Dates Added Across Louisiana

2017-11-01T18:49:25+00:00

The broker mandatory course is a unique one-time requirement for all licensed Louisiana real estate brokers. In addition to the normal mandatory continuing education course, Brokers also have a unique broker mandatory course in 2017. This course must be completed in order to renew a broker license for 2018. This one-time requirement is also must be taken in a live classroom format. Online or similar courses will not be allowed for the broker mandatory. Therefore, it is important to locate and complete a broker mandatory course before the typical December 31 license renewal deadline. The LREC still requires the same 12 hours of continuing education for renewal for all Louisiana licensees. Licensed salespersons can choose to take the broker mandatory course as an elective, but it will not replace the 2017 mandatory course on insurance and contract timelines. Donaldson Adds Broker Mandatory Sections In order to better serve our Louisiana broker licensees, we here at Donaldson Real Estate School have committed to schedule and hold as many broker mandatory courses as possible. Since this course is required to be taken live [...]

6 10, 2017

Inclement Weather Update

2017-10-06T18:16:36+00:00

Here at Donaldson, we do our absolute best to make sure our classes go on as scheduled. However, we all know the reality of the threat inclement weather poses when you live on the Gulf Coast. Above all, we value our students' safety, as well as the safety of our staff. Due to Tropical Storm/Hurricane Nate, we will be rescheduling our Monday, October 9th, 2017 Real Estate Pre-License courses for later in the week. The good news is that, based on the path and speed of the storm, it appears the weather will not last very long. We will therefore be rescheduling our Monday, October 9th class to take place on Tuesday, October 10th. All 2 and 6 week classes in Metairie will be pushed backward one day: Tuesday, October 10th's class will be held Wednesday, October 11th Wednesday, October 11th's class will be held Thursday, October 12th Thursday's October 12th class will be held Friday, October 13th The Friday, October 13th Math Lab has also been rescheduled for the following Monday, October 16th. Baton Rouge and Mandeville's 8 week night classes [...]

28 07, 2017

News: Flood Insurance Reform Bill Reaches Key Agreements

2017-07-28T14:59:58+00:00

WASHINGTON - Flood insurance reform is an ongoing issue on the national stage.  The current flood insurance program expires on September 30, 2017. Here is the latest: The 21st Century Flood Reform Act The National Flood Insurance Program (NFIP) aims to reduce the impact of flooding on both private and public structures. This federally subsidized program provides affordable insurance to property owners. The NFIP also works with communities to adopt and enforce floodplain management regulations. This floodplain management helps reduce costs and help mitigate loss. To date, the NFIP insures over 5 million properties. As it stands now, this program is slated to expire in its current form on September 30, 2017. This expiration could potentially result in a severe shortage of affordable flood insurance, with catastrophic effects in certain areas of the country which are at higher risks for flooding. Therefore, lawmakers on both sides of the aisle are aware of the importance of reaching an agreement on permanent flood insurance reform before the program is allowed to expire. The 21st Century Flood Reform Act aims to strengthen and reauthorize the [...]

8 06, 2017

New Law Makes Practicing Real Estate without a License a Crime

2017-06-08T19:57:28+00:00

  New Law Makes Practicing without a License a Crime A new real estate law in Louisiana strengthens the penalties for unlawful real estate activities. This new real estate law makes it a misdemeanor for anyone practicing without a real estate license. Furthermore, it strengthens certain requirements for out of state licensees or brokers who wish to work or practice in Louisiana. An out-of-state licensee will need to either become licensed in Louisiana or work with a licensed broker in Louisiana. The new real estate law takes effect on August 1, 2017. Who Needs a Real Estate License? In the state of Louisiana, the current real estate law regarding licensing states: "Real estate activity" means any activity relating to any portion of a real estate transaction performed for another by any person, partnership, limited liability company, association, or corporation, foreign or domestic, whether pursuant to a power of attorney or otherwise, who for a fee, commission, or other valuable consideration or with the intention, in the expectation, or upon the promise of receiving or collecting a fee, commission, or other [...]

9 01, 2017

Advertising Fines Raised on Real Estate Agents

2017-05-17T19:23:18+00:00

Advertising Fines Raised on Lousiana Real Estate Agents A big change is coming for real estate licensees in Louisiana as the LREC has adopted new policy concerning advertising violations. The advertising fines are being raised, and real estate brokers will need to pay closer attention to their agents. If you have a real estate license in Louisiana, you need to read this article! Important keys to take from this article: Advertising fines are being raised for violations in Louisiana Real Estate Brokers will have to match the fines levied on their sales staff New policy to be enforced beginning June 1, 2017 Brokers and agents should review advertising guidelines as part of regular risk management plan A free downloadable guide is available at the end of this post Louisiana Real Estate Commission Raising Advertising Fines for Violations A big change is coming for real estate licensees in Louisiana as the LREC has adopted new policy concerning advertising violations. If you have a real estate license in Louisiana, you need to read this article! However, before we get into the changes, let's refresh ourselves as to the current [...]

14 12, 2016

Pass Your Real Estate Exam and Get Your License

2017-05-30T20:22:26+00:00

  How to Pass Your Real Estate Exam and Get Your License In my last post (which you can read here ) I detailed what I call the top reasons people fail the real estate exam. In that post certain behaviors and "strategies" - I'll use that term loosely - were discussed that I see all the time in exam applicants who fail. Now, let's accentuate the positive and give you some insights on how to PASS your real estate exam. For years our school has lauded our passing rates and student success as one of our many marketing points for people to attend our programs. Sure, it has been good business, but it is also true! In fact, we even offer to pay the retake fees for certain students who manage not to pass their exam the first time. It would seem ridiculous, unless we had a strategy that worked. If you want to pass your real estate exam, here are 5 things you should do starting right now: 1.  Develop proper study habits I know, no one wants to [...]

14 12, 2016

5 Reasons People Fail the Real Estate Exam

2017-05-17T19:27:05+00:00

Top 5 Reasons People Fail the Real Estate Exam “Nothing worth doing is easy” - anonymous In my more than 15 years preparing folks for the real estate licensing exam, I have pretty much seen it all. One of the wonderful things about what we get to do every day is meet people from all walks of life, all educational levels, with varying backgrounds and understanding of the real estate business as a whole. Due to this wide swath demographically, you also see many different “styles” of test preparation and study planning. For instance, you’ll see students who want to pass the exam and get their license so bad they will literally do whatever it takes (you should see my email inbox!). For many of these, effort and planning is not necessarily a problem. And then you have the habitual test taker, the time waster, the individual that I cannot for the life of me figure out what exactly it is they are trying to accomplish. Success or Failure? You have an option If you don’t know, a real estate [...]

19 10, 2016

Mortgage Continuing Education – What to do?

2017-05-17T19:27:41+00:00

Mortgage Continuing Education The end of the year brings all types of events: Family, Religious, Festivals, Fairs, and Mortgage Continuing Education Deadlines.  That’s right, in the mix of all the fun, do not forget about completing your mortgage CE, continuing education. Now, no one likes to do continuing education, but given that it is mandatory each year, being educated on Mortgage CE is also a must.   As mortgage professionals staying up to date on the latest news, trends and policies is a daily educational task.  So, taking 8 hours (for most states) out of the 2080 standard working hours in a year should also be viewed as an opportunity to increase your knowledge. Mortgage CE Requirements Knowing what your state requirements are for yearly mandatory continuing education is a great place to start.  The majority of Mortgage Loan Originators, MLO’s, will have 8 hours of CE with the one stipulation that you may not repeat the same course 2 years in a row.  However, 22 states have additional requirements anywhere from 1 to 3 hours (check the list here).  The [...]

10 08, 2016

Proration – 3 Easy Steps

2017-05-30T20:29:36+00:00

Breaking Down Proration Welcome to episode 3 on proration of The #AskDonaldson Show, where we answer your questions about real estate in order to help you pass the real estate exam and succeed in furthering your career.  Whether you are studying for the National portion, looking to get licensed in Louisiana, or obtaining your license in Mississippi; if you have a question - we have the answer.  Our goal is your success! In this episode we answer the question of - calculating proration in a real estate transaction.  Of course, we understand when it comes to financial math problems that this can cause some stress to real estate agents, so we have created a simple 3 Step process for solving the problem of proration.     Donaldson 3 Steps to Solving Proration:  Count Days  Daily Rate  Days x Daily Rate   So, let's break this down a little more.  First, in counting the number of days, remember that as real estate professionals we use the banker's calendar.  In the financial world, regardless of the month - 30 days are used, which equates [...]