Advertising Fines Raised on Real Estate Agents

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 [...]

Pass Your Real Estate Exam and Get Your License

  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 [...]

5 Reasons People Fail the Real Estate Exam

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 [...]

Mortgage Continuing Education – What to do?

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 [...]

Proration – 3 Easy Steps

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 [...]

LREC Education Audit – What to Do if You Get a Letter

LREC education audit time can be a stressful experience as simply being accused of not completing your continuing education as prescribed by law can be very worrisome. Although sometimes it does happen, we hope this short guide will help you understand what to do in case you do find yourself with an LREC audit letter.   What is an LREC Education Audit Letter? Each year by December 31 in Louisiana, all licensees must renew their real estate license and also comply with the license renewal requirements. One of the most important of the license renewal requirements in Louisiana is proper completion of the required continuing education. Even though you are supposed to complete the required 12 hours of continuing education before renewing your real estate license, it is possible to actually renew your license without having the proper continuing education completed. The LREC education audit is designed to catch any gaps in a licensee's education record to ensure they are in full compliance. The reason for this is that under the LREC's online renewal system, there is no requirement that [...]

New #OfficeHours Weekly Q&A Show with Chris Donaldson

We Answer Your Real Estate Questions LIVE on the Web with the Premier Episode of #OfficeHours. THE Q&A Show for Real Estate Students Premiers Wednesday, April 6th at 6:30pm (CST) You have questions. We have answers. Join us for #OfficeHours! #Officehours is an all new weekly live webcast hosted by our CEO Chris Donaldson in which he will answer your questions live and on the air in a Q&A style format. If you are taking your real estate course online, at one of our many Donaldson campuses, or even elsewhere around the country - Chris is here to help you pass your real estate exam the first time! Join us LIVE on Wednesday, April 6th at 6:30pm for the first episode of #OfficeHours and let Chris answer your real estate questions. How to Watch: #Office Hours Google+ Event Page #OfficeHours YouTube Stream (Wednesday night, April 6th 6:30pm)   3 Ways you can Submit a Question for #OfficeHours: Email Chris your question to chris@donaldsoneducation.com and put #officehours in the title Ask Chris your question on social media and use the hashtag #officehours [...]

Appraisal Continuing Education Opportunity – This Week!

Basic Appraisal Procedures - Appraisal Continuing Education Course If you are a licensed or certified real estate appraiser, you are likely well aware of your continuing education requirements. Depending on specific state requirements, there are educational hours due on a regular basis (yearly, every two years, etc.) that must be completed in order to renew your license. Appraisal continuing education is an important part of the job of the appraiser, and failing to complete these requirements can result in fines, suspensions, or even losing your license! Basic Appraisal Procedures - 28 Hours of Available Continuing Education This week, starting on Thursday March 3rd Donaldson Educational Services will be running an appraisal course which qualifies for either pre-license or continuing education credit. The course is fully AQB approved, and provides an excellent opportunity to interact with a real instructor and complete your continuing education in an engaging and interesting format. The topics covered in Basic Appraisal Procedures includes: Steps in the appraisal process Defining the appraisal problem The scope of work in detail Collection of property data Proper data analysis Reconciliation [...]

Real Estate Broker Course – All New

Real Estate 203 - Broker Responsibility Course Donaldson's real estate broker course is ALL NEW and updated for 2016. If you are looking to achieve a real estate broker's license, this is the course you need to take. For most state regulators, this course will serve as a part of the overall licensing requirement to become a real estate broker. (For Louisiana's full real estate broker course requirements click HERE). Remember, in order to be licensed as a real estate broker you will need experience first as a real estate salesperson. The LREC Changed the real estate broker course requirements effective January 1, 2016 If you wish to apply for a real estate broker's license in 2016 and beyond, your program must include a newly updated broker responsibility course which meets the LREC's new requirements. Donaldson's all new course was developed specifically for this requirement, and will satisfy educational requirements along with the rest of the 150 hours needed to apply for a broker's license. What you will learn in Donaldson's real estate broker course As a part of your [...]

How to Get a Real Estate License

Common Questions Answered About Getting a Real Estate License Here at Donaldson Educational Services, we field thousands of inquiries each year on how to get a real estate license and the various options one might have in accomplishing that goal. In this post, we hope to answer a few of the most commonly asked questions to help guide you in the right direction as you make the important decision to move into the world of real estate! How Many Hours Do I Need? Various states have certain educational requirements, so we will use our home state of Louisiana as a guide. In Louisiana, you need 90 hours of pre-license education in order to qualify for a real estate license. Therefore, the first step for all real estate hopefuls is real estate school here at Donaldson! These 90 hours must be from a certified educational provider in Louisiana, and you will have to complete a real estate licensing program in order to receive a course certificate. You can read more information on the licensing process here What Are My Options for [...]