Risk Management

image of bedroom without a closet

Can You List a Bedroom Without a Closet

Have you ever been at odds with a client about how many bedrooms there are in a house? How many bedrooms you include in a listing matters. More bedrooms can attract buyers and raise the price of the house. They could also get you into hot water for false representation if you over state them.Read More

woman with hands behind head relaxed on couch

Guest or Tenant? How to Deal with Someone Who Won’t Leave

What happens when somebody pays you to stay in a room short term and then doesn’t want to leave? That happened to one of our clients. She offered a place to stay in her home since hotel rates were so high. The person agreed to pay $600 for the short-term use of a bedroom. NowRead More

man on phone texting

Can You Text Changes to a Lease Agreement?

A couple was selling one home and moving into another that needed work. They arranged to lease the house they sold, while a contractor did the work on the new house. At closing, the sellers had a written 7-month lease agreement with a specified move-out date. Before the lease was up, the buyer and sellerRead More

cyber lock

Be Alert and Prepared for Real Estate Broker Identity Theft

Our E&O client recently contacted CRES Risk Management to report that somebody was using her name, license number and professional background on a fake website. The website was designed to lure unsuspecting real estate consumers into a scam involving timeshares. She wanted to know what she could do to protect herself. Be Aware of EmergingRead More

woman sitting at table in house

Can You List Property in Trust with an Uncooperative Co-owner?

There are benefits of putting a property in trust, but sometimes it can complicate matters—especially when trustees don’t agree. Have you ever had a court assigned listing for a parcel in trust? When all the parties work together, it can be a smooth process. But what happens when one of the trustees doesn’t cooperate? CanRead More

divorced couple sitting on couch holding broken heart images

Should a Real Estate Agent Disclose Divorce in a Home Sale?

It’s not uncommon for a couple getting divorced to sell their home, so it’s quite possible that you have been or will be involved in real estate sales  when the sellers are divorcing. In those cases, do you need to disclose that the sellers are getting divorced? Recently CRES Risk Management fielded a call fromRead More

neighbors shaking hands on verbal easement

How to Keep a Verbal Easement from Turning into a Lawsuit

Have you represented a property with a verbal easement? If so, did the buyer or seller get an Improvement Location Certificate (ILC)? If not, you could end up with a headache – or a lawsuit. We’ll share an agent’s actual experience and show you the best way to handle past and future sales. Recently, CRESRead More

indoor marijuana growing with fan

What Can Property Managers Do About Marijuana Cultivation?

Changes in state laws about marijuana use and cultivation means that growing marijuana may become an issue for real estate agents in several states. Recently, CRES Risk Management fielded a call from a client wanting to know how to deal with a marijuana cultivation issue. Our client is a property manager who learned that aRead More

paper with withdrawn stamp

How to Withdraw Counteroffers to Prevent Real Estate Lawsuits

The good news is that you’ve gotten multiple offers on an open listing. The bad news, you accidentally sent out two counter-offers. What should you do? One of our clients faced that exact situation. Our client realized that this put the seller in a potential situation of being under contract to sell to two buyers,Read More

male holding iphone

Should You Respond to the Threat of a Real Estate Lawsuit?

Seller carrybacks can be risky. Could helping a client with a carryback loan put you at risk of a real estate lawsuit? In this example it did. Our client was the selling agent who assisted a buyer with a purchase that included an $85,000 carryback loan. The seller later contacted the selling agent, asking ifRead More

RT @kwri: Without zeroing in on a very specific market, you won’t get the massive growth you’re looking for. https://t.co/6y8L0lUDAX RT @LisaFiliatrault: Fall Brings Price Drops for a Quarter of Homes https://t.co/NaOblKPJQQ #RealEstate