Take a proactive approach to learn how to recognize risk in your business. It’s crucial to understand how state and federal laws and regulations apply to your real estate business. Stay up to date on legal changes, and find resources for establishing conscientious procedures at your company.
Be sure to check out these resources:
Find out about how risk management and legal liability issues can affect real estate professionals.
The Risk Management Committee has also created the following documents for use by brokerages in their efforts to manage legal risks. All of the documents are available for member firms to download and reformat as needed for their firm, including branding with their firm logo.
A real estate broker who becomes an agent of a seller or buyer, either intentionally through the execution of a written agreement, or unintentionally by a course of conduct, will be deemed to be a fiduciary. Read and download NAR's handout on the subject of fiduciary duty.
With well-crafted policies, regular training, and consultation with counsel, associations and members can minimize exposure to liability concerning key risk areas. Read an article from an association attorney about the issues to consider when using social media.
These claims scenarios from Victor Insurance Managers LLC, NAR’s recommended provider of errors & omissions insurance through NAR REALTOR Benefits®, provide the outcome of the claim and provide helpful risk management tips. These stories from the real estate trenches illustrate how errors and omissions insurance can protect a real estate professional who might be "caught in the crossfire."
Read the Claims Scenarios
Victor Insurance Managers LLC provides a first-class errors and omissions (E&O) insurance program to REALTOR® members.
Securus ID offers members discounts on industry-leading identity theft protection plans which include fully managed restoration services.
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