Selling real estate can be a lucrative and rewarding profession. However, it can also be very complicated: often involving the management of multiple clients and listings, and the innumerable details which go along with these. Whether you are a broker or an agent, investing in the correct insurance policies can protect you from the numerous liabilities inherent to your field.
Plans for Real Estate Brokers
The certifications necessary for real estate brokers qualify them to work independently or hire real estate agents to work for them. Thus, real estate broker coverage is slightly more complex than that for agents. The following policies will protect you, your business and your employees:
- Property insurance
- Errors and omissions
- General liability
Plans for Real Estate Agents
If you are an agent working under a broker, you may be covered under some of the plans listed above. Nonetheless, with so much at stake, it is never wise to rely on your employer to maintain the coverage needed to protect you. Therefore, agents should always carry their own errors and omissions plans.
You have worked hard to earn your certifications in real estate and to provide your clients with high quality services. Costly litigation can threaten all you have accomplished. Consult an expert in the field of real estate insurance to make sure you are prepared for any eventuality.