The real estate business is already one of the most heavily regulated. With all of the legal requirements
you must follow, it is a good idea to look at available errors and omissions insurance for real estate
agents. The truth is that most agents will run into a legal problem of some kind sooner or later. Due to
the cost and hassle of legal defense, the protection that these policies offer is well worth the price of the
The process of purchasing a piece of property is complicated and risky. The unscrupulous tactics used by
less ethical agents in the past have led to increasing regulations and requirements. This has caused the
amount of paperwork to increase. Consequently there is a greater chance that errors will occur. Be
prepared with an errors and omissions policy when these kinds of mistakes threaten your business.
Failing to Disclose
A good home inspection prior to purchase should find most of the major issues before the deal goes
through. Even so, not every problem is identified properly. Avoid being held accountable for hidden
flaws in a real estate transaction.
It still costs when you are not at fault
Many lawsuits are nuisance lawsuits. The damages are minor and you are not really the one at fault.
These problems usually go away during the discovery phase of a trial, but even having focusing on these
complaints takes time away from your business. The cost of a legal defense is still a cost. With errors and
omissions insurance for real estate agents, your insurance company takes care of these hassles and
often directly handles the details of your legal defense.