4 Hour Course
Course ID: 00004
Approved By: Louisiana Real Estate Commission
This is the Mandatory course that the Louisiana Real Estate Commission reguired for the year 2017. If you were not able to complete your Core credits last year, this course is available for you as a make-up course.
Real estate licensees are relied upon by clients to provide trustworthy advice during one of the most important financial decisions in many people's lives sales and purchase of property. Unless also licensed in insurance, you have to be careful not to provide guidance but to have any information you impart prior to a transaction be clear, reliable, accurate, and useful. For so many Louisiana residents, flood insurance is critical but poorly understood. This class will provide the same kind of training that the NFIP requires before being licensed to sell flood insurance, including the history, principles, recent changes, and outlooks for the future. The class provides a practical, step-by-step guide to flood maps and how to incorporate reading of flood maps into real estate decision-making.
This will be followed by an examination of the liability real estate professionals can bear when faced with errors and omissions (E&O) claims, focusing on both how to prevent claims and how E&O insurance works. A real estate licensee who is conscientious and careful (such as when giving information on flood insurance) can still be subjected to an E&O claim; this class helps you avoid some claims and prepare for any that may nevertheless arise.
The third topic addressed are the various forms and coverages that a homeowner must navigate when purchasing coverage for their home.
The final portion of the class will provide the latest developments on purchase agreements and provide a practical guide to sales and purchase timelines.