Errors and omissions insurance protects real estate enterprises against losses resulting from errors made in the provision of professional services. It may be helpful to real estate brokers, agents, appraisers, and other real estate professionals, among others. As a result, if a customer files a lawsuit against your real estate company because of a mistake in the services provided, errors and omissions insurance for real estate might assist you in covering your legal expenses. Some instances of claims in which errors and omissions insurance might be beneficial to real estate brokers are as follows:
However, a structural problem in the property was not disclosed by the company holding an open house for a customer.
Inaccurate description of a property by an employee in a real estate listing.
When a customer is purchasing a property, a business may provide inaccurate legal advice to them.
