Posts Tagged ‘Professional Liability Insurance for Real Estate Brokers’
Fiduciary duties are the highest duties known to the law. A real estate broker is legally responsible for certain specific duties to his principal, in addition to any duties or obligations set forth in a listing agreement or other contract of employment.
There is certain information that real estate brokers are legally required to disclose to buyers and sellers. Full disclosure provides parties with the information needed to properly negotiate the price and assess the property’s suitability for their needs.
Lawsuits can be filed against real estate agents and brokerages, no matter how carefully they perform their job. The lawsuits might be unfounded or frivolous, but legal expenses must be paid no matter who wins in court.