News: Flood Insurance Reform Bill Reaches Key Agreements

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 [...]

News: Flood Insurance Reform Bill Reaches Key Agreements2020-12-20T00:23:24+00:00

New Law Makes Practicing Real Estate without a License a Crime

  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 [...]

New Law Makes Practicing Real Estate without a License a Crime2020-12-20T04:56:25+00:00

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, [...]

Advertising Fines Raised on Real Estate Agents2020-12-20T04:45:31+00:00

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 real estate 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. A real estate coach can give you the pointers you need to get your license. If you want to pass your real estate exam, here are 5 things [...]

Pass Your Real Estate Exam and Get Your License2020-12-20T04:57:21+00:00

5 Reasons People Fail the Real Estate Exam

Top 5 Reasons For Failing The Real Estate Exam 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. “Nothing worth doing is easy” - anonymous 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. If you don’t know, a real estate license exam is usually regulated by your [...]

5 Reasons People Fail the Real Estate Exam2020-12-20T05:03:04+00:00

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 [...]

Mortgage Continuing Education – What to do?2020-12-20T00:28:10+00:00

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 [...]

Proration – 3 Easy Steps2020-12-20T05:01:28+00:00

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 [...]

LREC Education Audit – What to Do if You Get a Letter2020-12-20T04:55:12+00:00

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 and put #officehours in the title Ask Chris your question on social media and use the hashtag [...]

New #OfficeHours Weekly Q&A Show with Chris Donaldson2020-12-20T05:08:46+00:00

Appraisal Continuing Education Opportunity – This Week!

Basic Appraisal Procedures - Appraisal Continuing Education CourseIf 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 EducationThis 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 processDefining the appraisal problemThe scope of work in detailCollection of property dataProper data analysisReconciliation and final value estimatesThe appraisal reportAnd more!To Register:Call our [...]

Appraisal Continuing Education Opportunity – This Week!2020-12-19T23:40:50+00:00