category
Real Estate E&O Real Estate E&O
topic
Coverage Questions Coverage Questions

What are the risks in transacting Real Estate sales that a business or individual needs coverage for?

Real estate lawsuits are filed every day in every part of the country. With the complexities involved in real estate transactions, there are no guarantees that you’ll never receive a demand letter or be named in a lawsuit concerning your professional services as a real estate agent or broker.

The ten most common claims made against real estate licensees:

  1. Fraud
  2. Breach of Duty
  3. Breach of Contract
  4. Negligence
  5. Bodily Injury / Property Damage
  6. Misrepresentation regarding the Condition of the Property
  7. Consumer Protection Act
  8. Earnest / Escrow Money Dispute;
  9. Failure to Disclose Flooding or Leaks
  10. Misrepresentation regarding the Value or Use of the Property

Even if you’re named in a frivolous lawsuit where you did everything right, you can still incur substantial legal fees to defend yourself if you’re not covered by E&O insurance.

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