Blog
Closing Issues & Managing the Risk
As a real estate agent, there’s nothing more exciting than closing on a real estate deal. But, sometimes things can go wrong — things which can delay closing or, worse, stop it from happening altogether. Many of these possible scenarios will be completely out of your control — for example, if a buyer loses his/herRead More
Effective Strategies to Avoid Real Estate Claims in Texas
If you’re a real estate professional, you know it’s important to manage risk and the threat of potential litigation in your business. No one knows this better than Tom O’Connell, who’s been defending real estate professionals in errors and omissions claims statewide in Texas for more than 30 years. Tom is an approved Texas panelRead More
Are Oral Contracts Legal in Real Estate?
Sometimes it pays to review the basics: You need a written contract when selling property. CRES ClaimPrevent Hotline was recently contacted by a client who wanted to know if an oral contract to sell land in California is enforceable. One of our attorneys noted that in theory the sale of land can be accomplished:Read More
Insurance Checklist for Real Estate Offices
Insurance for your real estate office can be confusing due to the liability created by independent contractor real estate licensees. We’re here to make it simple. Here’s what you need to have in addition to real estate Errors and Omissions (E&O) insurance, to protect your assets. Liability and Property Coverage Policies Depending on the sizeRead More
Your Real Estate Signage — Could it Cause a Lawsuit?
Signage is an important part of a real estate agent’s marketing toolkit. Professional signage, whether it’s posted outside of the property or elsewhere in the neighborhood to promote an open house, can increase your leads and attract potential buyers. Real estate signs sell properties faster. But, like everything in business, there are some risks associatedRead More
How to Avoid a Lawsuit When a Real Estate Agent is Injured and Unable To Work
As a real estate agent, being fit and healthy is very much a requirement to keep up with the competition. What happens when an unexpected injury or illness occurs that impacts your ability to do your job? Whether it’s an injury obtained on the job — like slips or falls or a car accident —Read More
Risks When Representing Clients With Wildfire Damaged Real Estate
How to manage 4 key areas of risk when a client’s home is destroyed by CA wildfires If you’re a California real estate professional, chances are you may have represented a buyer who purchased a home that ended up being destroyed by wildfires. If you haven’t already, you may in the future. Or, perhaps youRead More
Providing Information And Data To Your Clients: 6 Top Tips To Avoid A Lawsuit
In our litigious society today, real estate agents like you need to protect yourself against potential risks and lawsuits. One scenario where you face a high degree of risk is when you provide information and data to your clients. There are plenty of good reasons why, as a real estate agent, you would provide informationRead More
When To Disclose Crime Activity Around Your Real Estate Listings and Rentals
Are you aware of local crime rates, recent criminal activity, or if a sex offender lives near one of your client listings or rentals? Disclosing what you know about criminal activity around a listing to interested buyers will help you avoid misinterpreting the property’s value — and keep you out of legal trouble whether representingRead More
Representing Buyers of Income Property with Tenant Agreements
Buying a duplex can be appealing to clients for a number of reasons. Your buyers of multi-family homes need to know what happens to tenant agreements when property transfers to a new owner. CRES Risk Management recently heard from a client who was representing the buyer of a duplex. In this situation, one side ofRead More