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woman on phone stressed about possible real estate lawsuit

Don’t Try to Resolve Real Estate Issues that Could Become E&O Claims on Your Own

Have you ever received a call from unhappy buyers because of misinformation in an MLS listing? Trying to deal with issues like these can be a big headache—and lead to lawsuits. That’s why you want to get support early in the process when there is still time to help prevent claims and potential litigation.

CRES Legal Advisory Services for Risk Management, part of the CRES ClaimPrevent® program, got a call from a listing agent who was 10 minutes away from a conference call with unhappy buyers and their representatives. The buyers were upset because the MLS listed the property as having sewer hook-ups even though the property only had a septic system.

Wisely, the agent didn’t try to solve this on his own. By calling our Risk Management Legal Hotline, he got an immediate response from a real estate attorney who advised him before the meeting. Because of the quick attorney response and later follow-up, the parties reached a monetary settlement and avoided a lawsuit – and a claim on the agent’s record.

You could try to handle issues with upset buyers on you own, but we don’t recommend it. As a CRES real estate E&O + ClaimPrevent® client, you have access to the CRES Risk Management Legal Hotline. It’s part of the “plus” with CRES E&O. Most E&O doesn’t do anything for you until you have a claim. But with CRES, you have daily access to risk management legal services to help you PREVENT those claims and lawsuits whenever possible. Also, using the CRES Permit History reports could have shown that the property had a septic tank, not a sewer hookup. Another “plus” to help you increase service to your clients while reducing lawsuit risks.

We want to hear from you when you have potential issues. Calling the Legal Advisory Services Hotline helps fulfill reporting duties should a claim arise — and it allows us to advise you or connect you with expert counsel so that you don’t have to face issues alone.

What type of issues would you have liked to have the CRES Legal Advisory Services for Risk Management available to call on? Tell us in the comments below.

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