Reduce Your Risk of Being Sued—Tip #3

Tip 3 of 12 Risk Reduction Techniques for your daily real estate practice

Controlling your Errors & Omissions should be the mission of all real estate professionals. That’s why we’ve compiled a list of 12 risk reduction techniques you can use to minimize your legal liability and maximize your earning potential.

TIP 3: Provide full disclosure (if material in nature).

Make sure buyers are aware of potential problematic areas. For example, if the vacant lot next door will be developed or if a property tends to flood, this needs to be disclosed to the buyers in writing to help avoid any future allegations.

View more risk management materials available to our Real Estate Errors & Omissions customers, including a preview to our E&O Risk Management seminar!

Please let us know what you think about our first three tips; we have 9 more to post, so stay tuned! While you’re at it, check out our other blog posts; one is regarding using standard forms in your real estate practice—a necessity when it comes to disclosure. And send us your real estate horror stories involving any disclosure problems you’ve encountered or heard about—we want to hear from you!