Most people don’t see real estate as a particularly risky field to work in. However, as with most professions, real estate agents are constantly at risk of facing a lawsuit.
Of all claims, negligence is tricky because it is typically done unintentionally. However, real estate agents are still legally held responsible for their actions, whether intentional or not. While it isn’t possible to completely steer clear of lawsuits, here are 3 easy ways to avoid real estate negligence claims.
Make a List
During the inspection period, it can be helpful to make a checklist to ensure every nook and cranny is thoroughly examined. Common property issues like foundation flaws, roof damage, and plumbing problems should all be disclosed to your clients sooner rather than later.
Honesty Is the Best Policy
When talking to clients, you should always put honesty before anything else. Many real estate agents prioritize sales over people, and that’s where negligence can easily come into play. Most negligence claims revolve around failure to disclose important information about the property. By answering questions truthfully and not withholding any information, these claims can be easily avoided. Your clients should always come first.
While you can’t prevent every lawsuit, you can prevent them from draining your bank account. Getting real estate liability insurance is the only way to fully protect yourself from a damaging negligence claim.